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Here's Why DXP Enterprises (DXPE) Fell More Than Broader Market
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In the latest trading session, DXP Enterprises (DXPE - Free Report) closed at $54.02, marking a -1.62% move from the previous day. This move lagged the S&P 500's daily loss of 1.46%. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.
The industrial products supplier's stock has climbed by 12.61% in the past month, exceeding the Industrial Products sector's gain of 3.91% and the S&P 500's gain of 1.6%.
The investment community will be closely monitoring the performance of DXP Enterprises in its forthcoming earnings report.
Investors should also pay attention to any latest changes in analyst estimates for DXP Enterprises. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has moved 12.98% higher. At present, DXP Enterprises boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, DXP Enterprises is currently trading at a Forward P/E ratio of 15.38. This denotes a discount relative to the industry's average Forward P/E of 20.32.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Here's Why DXP Enterprises (DXPE) Fell More Than Broader Market
In the latest trading session, DXP Enterprises (DXPE - Free Report) closed at $54.02, marking a -1.62% move from the previous day. This move lagged the S&P 500's daily loss of 1.46%. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.
The industrial products supplier's stock has climbed by 12.61% in the past month, exceeding the Industrial Products sector's gain of 3.91% and the S&P 500's gain of 1.6%.
The investment community will be closely monitoring the performance of DXP Enterprises in its forthcoming earnings report.
Investors should also pay attention to any latest changes in analyst estimates for DXP Enterprises. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has moved 12.98% higher. At present, DXP Enterprises boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, DXP Enterprises is currently trading at a Forward P/E ratio of 15.38. This denotes a discount relative to the industry's average Forward P/E of 20.32.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.