Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Is DXP Enterprises (DXPE) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
DXP Enterprises is one of 189 companies in the Industrial Products group. The Industrial Products group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DXP Enterprises is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DXPE's full-year earnings has moved 0.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, DXPE has gained about 30.9% so far this year. At the same time, Industrial Products stocks have gained an average of 10.1%. This shows that DXP Enterprises is outperforming its peers so far this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is RBC Bearings (RBC). The stock has returned 29.8% year-to-date.
In RBC Bearings' case, the consensus EPS estimate for the current year increased 1.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, DXP Enterprises belongs to the Manufacturing - General Industrial industry, a group that includes 41 individual stocks and currently sits at #33 in the Zacks Industry Rank. On average, stocks in this group have gained 7.6% this year, meaning that DXPE is performing better in terms of year-to-date returns. RBC Bearings is also part of the same industry.
DXP Enterprises and RBC Bearings could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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DXP Enterprises, Inc. (DXPE): Free Stock Analysis Report RBC Bearings Incorporated (RBC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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