The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. DXP Enterprises (DXPE) 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? Let's take a closer look at the stock's year-to-date performance to find out.
DXP Enterprises is a member of the Industrial Products sector. This group includes 182 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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).
The Zacks Consensus Estimate for DXPE's full-year earnings has moved 17.2% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, DXPE has gained about 40.8% so far this year. In comparison, Industrial Products companies have returned an average of 16.4%. This shows that DXP Enterprises is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is Powell Industries (POWL). The stock is up 120.6% year-to-date.
Over the past three months, Powell Industries' consensus EPS estimate for the current year has increased 7.8%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, DXP Enterprises belongs to the Manufacturing - General Industrial industry, which includes 42 individual stocks and currently sits at #149 in the Zacks Industry Rank. This group has gained an average of 11.6% so far this year, so DXPE is performing better in this area.
In contrast, Powell Industries falls under the Manufacturing - Electronics industry. Currently, this industry has 14 stocks and is ranked #165. Since the beginning of the year, the industry has moved +20.6%.
Investors with an interest in Industrial Products stocks should continue to track DXP Enterprises and Powell Industries. These stocks will be looking to continue their solid performance.
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DXP Enterprises, Inc. (DXPE): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).