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DXP Enterprises Upgraded to Strong Buy on Bright Prospects
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On Jul 11, Zacks Investment Research upgraded DXP Enterprises, Inc. (DXPE - Free Report) to a Zacks Rank #1 (Strong Buy). Going by the Zacks model, companies sporting a Zacks Rank #1 have strong chances of outperforming the broader market.
DXP Enterprises is one of top picks in the Machinery General Industrial industry, which is currently amongst the top 21% of the 265 Zacks categorized industries. In the last one year, the company’s shares have yielded a return of 89.14%, outperforming the gain of 29.39% recorded by the industry.
Why the Upgrade?
In the past four quarters (including the results of the first quarter), the company pulled off an average positive earnings surprise of 368.89%. In the first quarter of 2017, its earnings beat the Zacks Consensus Estimate by 466.67%. Sequentially, revenues generated improved 7.3% on higher segmental sales. Also, earnings before interest, tax, depreciation and amortization grew 4.6%.
In the quarters ahead, we believe that DXP Enterprises will benefit from its diversified business structure and operations in various end markets. A focused approach toward improving its product portfolio, including rotating equipments, bearing & power transmission, metal cutting tools, safety products, and related services and industrial supplies will prove beneficial for the company going forward. Also, it aims at expanding its businesses in Canada and Mexico.
DXP Enterprise seeks to acquire businesses as well as refinance its debt structure in the quarters ahead. In 2017, the company anticipates benefiting from the improving operating conditions in industrial end market as well as from recovering oil and gas businesses.
Investors seem to be optimistic about DXP Enterprises’ future prospects, as evident from the positive revisions in earnings estimates for the stock. Over the last 60 days, the Zacks Consensus Estimate for the company increased 97.5% to 79 cents for 2017 and 37.8% to $1.24 for 2018.
DXP Enterprises has a market capitalization of $589 million. Other stocks worth considering in the industry include Atlas Copco AB (ATLKY - Free Report) , Barnes Group, Inc. (B - Free Report) and IDEX Corporation (IEX - Free Report) . While Atlas Copco sports a Zacks Rank #1, both Barnes and IDEX Corporation carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Atlas Copco’s earnings estimates for 2017 and 2018 were revised upward in the last 60 days. Also, the company delivered a positive earnings surprise of 27.59% in the last quarter.
Barnes Group pulled off an average positive earnings surprise of 8.94% for the last four quarters. Also, its earnings are predicted to grow 9% in the next three to five years.
IDEX Corporation’s earnings estimates for 2017 and 2018 were revised upward in the last 60 days. Also, the company’s average earnings surprise for the last four quarters was a positive 5.11%.
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Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
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DXP Enterprises Upgraded to Strong Buy on Bright Prospects
On Jul 11, Zacks Investment Research upgraded DXP Enterprises, Inc. (DXPE - Free Report) to a Zacks Rank #1 (Strong Buy). Going by the Zacks model, companies sporting a Zacks Rank #1 have strong chances of outperforming the broader market.
DXP Enterprises is one of top picks in the Machinery General Industrial industry, which is currently amongst the top 21% of the 265 Zacks categorized industries. In the last one year, the company’s shares have yielded a return of 89.14%, outperforming the gain of 29.39% recorded by the industry.
Why the Upgrade?
In the past four quarters (including the results of the first quarter), the company pulled off an average positive earnings surprise of 368.89%. In the first quarter of 2017, its earnings beat the Zacks Consensus Estimate by 466.67%. Sequentially, revenues generated improved 7.3% on higher segmental sales. Also, earnings before interest, tax, depreciation and amortization grew 4.6%.
In the quarters ahead, we believe that DXP Enterprises will benefit from its diversified business structure and operations in various end markets. A focused approach toward improving its product portfolio, including rotating equipments, bearing & power transmission, metal cutting tools, safety products, and related services and industrial supplies will prove beneficial for the company going forward. Also, it aims at expanding its businesses in Canada and Mexico.
DXP Enterprise seeks to acquire businesses as well as refinance its debt structure in the quarters ahead. In 2017, the company anticipates benefiting from the improving operating conditions in industrial end market as well as from recovering oil and gas businesses.
Investors seem to be optimistic about DXP Enterprises’ future prospects, as evident from the positive revisions in earnings estimates for the stock. Over the last 60 days, the Zacks Consensus Estimate for the company increased 97.5% to 79 cents for 2017 and 37.8% to $1.24 for 2018.
DXP Enterprises, Inc. Price and Consensus
DXP Enterprises, Inc. Price and Consensus | DXP Enterprises, Inc. Quote
Other Stocks to Consider
DXP Enterprises has a market capitalization of $589 million. Other stocks worth considering in the industry include Atlas Copco AB (ATLKY - Free Report) , Barnes Group, Inc. (B - Free Report) and IDEX Corporation (IEX - Free Report) . While Atlas Copco sports a Zacks Rank #1, both Barnes and IDEX Corporation carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Atlas Copco’s earnings estimates for 2017 and 2018 were revised upward in the last 60 days. Also, the company delivered a positive earnings surprise of 27.59% in the last quarter.
Barnes Group pulled off an average positive earnings surprise of 8.94% for the last four quarters. Also, its earnings are predicted to grow 9% in the next three to five years.
IDEX Corporation’s earnings estimates for 2017 and 2018 were revised upward in the last 60 days. Also, the company’s average earnings surprise for the last four quarters was a positive 5.11%.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>