The latest trading session saw DXP Enterprises (DXPE) ending at $71.80, denoting a -1.86% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 1.57%. Meanwhile, the Dow lost 0.84%, and the Nasdaq, a tech-heavy index, lost 2.15%.
Coming into today, shares of the industrial products supplier had lost 4.58% in the past month. In that same time, the Industrial Products sector lost 16.32%, while the S&P 500 lost 12.16%.
The investment community will be closely monitoring the performance of DXP Enterprises in its forthcoming earnings report.
It's also important for investors to be aware of any recent modifications to analyst estimates for DXP Enterprises. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, there's been a 22.51% rise in the Zacks Consensus EPS estimate. As of now, DXP Enterprises holds a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, DXP Enterprises is holding a Forward P/E ratio of 13.86. This signifies a discount in comparison to the average Forward P/E of 17.34 for its industry.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 135, which puts it in the bottom 46% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DXPE in the coming trading sessions, be sure to utilize 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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