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Is DXP Enterprises (DXPE) Stock Outpacing Its Industrial Products Peers This Year?
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For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. DXP Enterprises (DXPE - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
DXP Enterprises is a member of the Industrial Products sector. This group includes 181 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DXP Enterprises is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DXPE's full-year earnings has moved 17.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, DXPE has moved about 55.5% on a year-to-date basis. Meanwhile, stocks in the Industrial Products group have gained about 17.3% on average. This means that DXP Enterprises is performing better than its sector in terms of year-to-date returns.
Powell Industries (POWL - Free Report) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 160.9%.
Over the past three months, Powell Industries' consensus EPS estimate for the current year has increased 8.1%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, DXP Enterprises is a member of the Manufacturing - General Industrial industry, which includes 41 individual companies and currently sits at #100 in the Zacks Industry Rank. Stocks in this group have gained about 9.1% so far this year, so DXPE is performing better this group in terms of year-to-date returns.
In contrast, Powell Industries falls under the Manufacturing - Electronics industry. Currently, this industry has 14 stocks and is ranked #155. Since the beginning of the year, the industry has moved +25.6%.
DXP Enterprises and Powell Industries could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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Is DXP Enterprises (DXPE) Stock Outpacing Its Industrial Products Peers This Year?
For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. DXP Enterprises (DXPE - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
DXP Enterprises is a member of the Industrial Products sector. This group includes 181 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DXP Enterprises is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DXPE's full-year earnings has moved 17.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, DXPE has moved about 55.5% on a year-to-date basis. Meanwhile, stocks in the Industrial Products group have gained about 17.3% on average. This means that DXP Enterprises is performing better than its sector in terms of year-to-date returns.
Powell Industries (POWL - Free Report) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 160.9%.
Over the past three months, Powell Industries' consensus EPS estimate for the current year has increased 8.1%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, DXP Enterprises is a member of the Manufacturing - General Industrial industry, which includes 41 individual companies and currently sits at #100 in the Zacks Industry Rank. Stocks in this group have gained about 9.1% so far this year, so DXPE is performing better this group in terms of year-to-date returns.
In contrast, Powell Industries falls under the Manufacturing - Electronics industry. Currently, this industry has 14 stocks and is ranked #155. Since the beginning of the year, the industry has moved +25.6%.
DXP Enterprises and Powell Industries could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.