DXP Enterprises (DXPE) Stock Slides as Market Rises: Facts to Know Before You Trade

In the latest close session, DXP Enterprises (DXPE) was down 2.22% at $119.94. The stock trailed the S&P 500, which registered a daily gain of 0.27%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.37%. Prior to today's trading, shares of the industrial products supplier had gained 6.26% outpaced the Industrial Products sector's gain of 1.35% and the S&P 500's gain of 1.85%.Analysts and investors alike will be keeping a close eye on the performance of DXP Enterprises in its upcoming earnings disclosure. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.3 per share and revenue of $0 million, indicating changes of +17.52% and 0%, respectively, compared to the previous year. Investors should also take note of any recent adjustments to analyst estimates for DXP Enterprises. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, DXP Enterprises holds a Zacks Rank of #3 (Hold). With respect to valuation, DXP Enterprises is currently being traded at a Forward P/E ratio of 23.14. This valuation marks no noticeable deviation compared to its industry average Forward P/E of 23.14. The Manufacturing - General Industrial industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 48, putting it in the top 20% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report DXP Enterprises, Inc. (DXPE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks