Yahoo Finance DXP Enterprises (DXPE) Beats Stock Market Upswing: What Investors Need to Know
The latest trading session saw DXP Enterprises (DXPE) ending at $53.23, denoting a +1.95% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.32% for the day. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.2%.
The industrial products supplier's shares have seen an increase of 52.08% over the last month, surpassing the Industrial Products sector's gain of 7.87% and the S&P 500's gain of 5.11%.
Market participants will be closely following the financial results of DXP Enterprises in its upcoming release.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for DXP Enterprises. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. DXP Enterprises currently has a Zacks Rank of #3 (Hold).
With respect to valuation, DXP Enterprises is currently being traded at a Forward P/E ratio of 16.52. This represents a discount compared to its industry's average Forward P/E of 21.98.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 77, this industry ranks in the top 31% of all industries, numbering over 250.
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.
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 Report
