The latest trading session saw DXP Enterprises (DXPE) ending at $85.28, denoting a +0.33% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.05%, and the Nasdaq, a tech-heavy index, added 1.26%.
Shares of the industrial products supplier have appreciated by 2.5% over the course of the past month, outperforming the Industrial Products sector's loss of 6.87% and the S&P 500's loss of 4.77%.
Market participants will be closely following the financial results of DXP Enterprises in its upcoming release.
Any recent changes to analyst estimates for DXP Enterprises should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 22.51% increase. DXP Enterprises is currently a Zacks Rank #1 (Strong Buy).
From a valuation perspective, DXP Enterprises is currently exchanging hands at a Forward P/E ratio of 16.1. This valuation marks a discount compared to its industry's average Forward P/E of 20.19.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 154, this industry ranks in the bottom 38% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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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