DXP Enterprises (DXPE) is a Great Momentum Stock: Should You Buy?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, capitalizing on established price movements [1][2]. Company Overview: DXP Enterprises (DXPE) - DXP Enterprises currently holds a Momentum Style Score of B, indicating a favorable momentum outlook [3]. - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [4]. Performance Metrics - Over the past week, DXP Enterprises' shares increased by 3.49%, outperforming the Zacks Manufacturing - General Industrial industry, which rose by 1.01% [6]. - In a longer timeframe, DXP's shares have risen by 98.11% over the past three months and 204.96% over the past year, significantly outperforming the S&P 500's gains of 3.88% and 24.54%, respectively [7]. - The average 20-day trading volume for DXP Enterprises is 292,081 shares, indicating a bullish trend when combined with rising stock prices [8]. Earnings Outlook - Recent earnings estimate revisions for DXP Enterprises show one upward revision for the full year, increasing the consensus estimate from $3.56 to$4.07 over the past 60 days [10]. - For the next fiscal year, there has been one upward revision with no downward revisions, indicating a positive earnings outlook [10]. Conclusion - Given the strong performance metrics and positive earnings outlook, DXP Enterprises is positioned as a 1 (Strong Buy) stock with a Momentum Score of B, making it a compelling investment option [12].