DXP Enterprises (DXPE) Outperforms Broader Market: What You Need to Know

DXP Enterprises (DXPE) closed at $99.71 in the latest trading session, marking a +1.38% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.06% for the day. Elsewhere, the Dow saw an upswing of 0.41%, while the tech-heavy Nasdaq depreciated by 0.39%. Shares of the industrial products supplier have appreciated by 17.36% over the course of the past month, outperforming the Industrial Products sector's gain of 6.94%, and the S&P 500's gain of 5.88%.Market participants will be closely following the financial results of DXP Enterprises in its upcoming release. 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 revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. 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 past month, the Zacks Consensus EPS estimate has remained steady. DXP Enterprises is currently sporting a Zacks Rank of #2 (Buy). Valuation is also important, so investors should note that DXP Enterprises has a Forward P/E ratio of 18.56 right now. This denotes a discount relative to the industry average Forward P/E of 22.2. The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow DXPE in the coming trading sessions, be sure to utilize Zacks.com. Should You Invest in DXP Enterprises, Inc. (DXPE)?Before you invest in DXP Enterprises, Inc. (DXPE), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)Want 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