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DXP Enterprises Hits New 52-Week High on Solid Q1 & View

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Shares of DXP Enterprises, Inc. (DXPE - Free Report) reached a new 52-week high of $42.00 during its trading session on May 16. This apex improved upon the last 52-week high of $40.77 on Jan 25.

In the last three months, shares of the company yielded 17.07% return, outperforming the gain of 5.28% seen by the Zacks categorized Machinery General Industrial industry.

On May 16, DXP Enterprises closed its trading session at $41.67, yielding a year-to-date return of roughly 19.9%. The trading volume for the session was approximately 0.80 million shares. Positive earnings estimate revisions for 2017 and 2018, along with an expected earnings growth rate of 20% for the next five years indicate the stock’s potential for further price appreciation.

Growth Drivers

In three out of last four quarters, DXP Enterprises reported better-than-expected results. Average earnings surprise was a positive 368.89%. In the recently reported first-quarter 2017 results, the company’s earnings of 17 cents per share surpassed the Zacks Consensus Estimate of 3 cents by 466.67% and came in above a loss of 35 cents in the year-ago quarter.

DXP Enterprises believes its Industrial and Oil & Gas markets are finally showing signs of improvement. It anticipates better results in the quarters ahead on the back of greater innovation and improved operational efficacy.

Over the last 60 days, the Zacks Consensus Estimate for DXP Enterprises increased 81.8% to 40 cents for 2017 and 30.4% to 90 cents for 2018.

DXP Enterprises, Inc. Price and Consensus

 

DXP Enterprises, Inc. Price and Consensus | DXP Enterprises, Inc. Quote

Zacks Rank & Key Picks

With a market capitalization of $719.2 million, DXP Enterprises currently carries a Zacks Rank #2 (Buy). Other stocks worth considering in the machinery industry include Applied Industrial Technologies, Inc. (AIT - Free Report) , Graco Inc. (GGG - Free Report) and Parker-Hannifin Corporation (PH - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Applied Industrial Technologies’ financial performance was impressive, with an average positive earnings surprise of 9.78% for the last four quarters. Also, earnings estimates for fiscal 2017 and fiscal 2018 were revised upward over the last 60 days.

Graco delivered an average positive earnings surprise of 13.88% for the last four quarters. Also, bottom-line expectations for 2017 and 2018 improved over the past 60 days.

Parker-Hannifin Corporation’ financial performance was impressive, with an average positive earnings surprise of 14.94% for the last four quarters. Also, earnings estimates for fiscal 2017 and fiscal 2018 were revised upward over the last 60 days.

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