In the latest trading session, DXP Enterprises (DXPE) closed at $83.81, marking a +2.33% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.96%. On the other hand, the Dow registered a gain of 0.89%, and the technology-centric Nasdaq increased by 0.94%.
The stock of industrial products supplier has fallen by 2.52% in the past month, lagging the Industrial Products sector's gain of 2.02% and the S&P 500's gain of 0.5%.
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.
It is also important to note the recent changes to analyst estimates for DXP Enterprises. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.38% upward. DXP Enterprises currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, DXP Enterprises is holding a Forward P/E ratio of 15.45. This represents a discount compared to its industry average Forward P/E of 22.35.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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