DXP Enterprises (DXPE) ended the recent trading session at $111.84, demonstrating a +1.19% change from the preceding day's closing price. This change outpaced the S&P 500's 0.13% loss on the day. Elsewhere, the Dow saw a downswing of 0.39%, while the tech-heavy Nasdaq appreciated by 0.15%.
Coming into today, shares of the industrial products supplier had gained 22.76% in the past month. In that same time, the Industrial Products sector gained 5.75%, while the S&P 500 gained 3.39%.
Market participants will be closely following the financial results of DXP Enterprises in its upcoming release.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.3 per share and a revenue of $0 million, indicating changes of +17.52% and 0%, respectively, from the former year.
Any recent changes to analyst estimates for DXP Enterprises should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. DXP Enterprises is currently sporting a Zacks Rank of #2 (Buy).
With respect to valuation, DXP Enterprises is currently being traded at a Forward P/E ratio of 20.85. This expresses a discount compared to the average Forward P/E of 22.02 of its industry.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 23, finds itself in the top 10% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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DXP Enterprises, Inc. (DXPE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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