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. Has DXP Enterprises (DXPE) been one of those stocks this year? 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 179 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. DXP Enterprises is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for DXPE's full-year earnings has moved 17.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that DXPE has returned about 24% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of 11% on a year-to-date basis. This means that DXP Enterprises is performing better than its sector in terms of year-to-date returns.

One other Industrial Products stock that has outperformed the sector so far this year is Kaiser Aluminum (KALU). The stock is up 11.1% year-to-date.

The consensus estimate for Kaiser Aluminum's current year EPS has increased 6.2% over the past three months. 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 43 individual companies and currently sits at #67 in the Zacks Industry Rank. On average, this group has gained an average of 8.1% so far this year, meaning that DXPE is performing better in terms of year-to-date returns.

Kaiser Aluminum, however, belongs to the Metal Products - Procurement and Fabrication industry. Currently, this 6-stock industry is ranked #199. The industry has moved +5.5% so far this year.

Investors interested in the Industrial Products sector may want to keep a close eye on DXP Enterprises and Kaiser Aluminum as they attempt to continue their solid performance.

Zacks Names #1 Semiconductor Stock

This under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.

With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.

See This Stock Now for Free >>

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 Report

Kaiser Aluminum Corporation (KALU): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research