DXP Enterprises (DXPE) Dips More Than Broader Market: What You Should Know

In the latest close session, DXP Enterprises (DXPE) was down 1.68% at $165.90. The stock's change was less than the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 0.66%. The industrial products supplier's shares have seen an increase of 10.05% over the last month, not keeping up with the Industrial Products sector's gain of 10.67% and outstripping the S&P 500's loss of 1.21%.Market participants will be closely following the financial results of DXP Enterprises in its upcoming release. The company's upcoming EPS is projected at $1.5, signifying a 4.90% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $548 million, reflecting a 9.89% rise from the equivalent quarter last year. DXPE's full-year Zacks Consensus Estimates are calling for earnings of $6.2 per share and revenue of $2.22 billion. These results would represent year-over-year changes of +14.39% and +10.1%, respectively. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for DXP Enterprises. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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, there's been no change in the Zacks Consensus EPS estimate. As of now, DXP Enterprises holds a Zacks Rank of #3 (Hold). In the context of valuation, DXP Enterprises is at present trading with a Forward P/E ratio of 27.22. Its industry sports an average Forward P/E of 26.38, so one might conclude that DXP Enterprises is trading at a premium comparatively. The Manufacturing - General Industrial industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 37% of all industries, numbering over 250. 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. Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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 UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks