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When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.
Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- that could keep the momentum in the stock going.
Investors looking to make a profit from stocks that are currently on the move may find our "Recent Price Strength" screen pretty useful. This predefined screen comes handy in spotting stocks that are on an uptrend backed by strength in their fundamentals, and trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.
There are several stocks that passed through the screen and
DXP Enterprises
(DXPE) is one of them. Here are the key reasons why this stock is a solid choice for "trend" investing.
A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. DXPE is quite a good fit in this regard, gaining 14.4% over this period.
However, it's not enough to look at the price change for around three months, as it doesn't reflect any trend reversal that might have happened in a shorter time frame. It's important for a potential winner to maintain the price trend. A price increase of 6.7% over the past four weeks ensures that the trend is still in place for the stock of this industrial products supplier.
Moreover, DXPE is currently trading at 82.3% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.
Looking at the fundamentals, the stock currently carries a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock's near-term price movements.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here
Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance.
So, the price trend in DXPE may not reverse anytime soon.
In addition to DXPE, there are several other stocks that currently pass through our "Recent Price Strength" screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
Zacks Investment Research
Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:
DXP Enterprises DXPE: This company which is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada, Mexico and Dubai, has seen the Zacks Consensus Estimate for its current year earnings increasing 12.7% over the last 60 days.
DXP Enterprises, Inc. Price and Consensus
DXP Enterprises, Inc. price-consensus-chart | DXP Enterprises, Inc. Quote
The Progressive PGR: This company which is a leading independent agency writer of private passenger auto coverage, and the market share leader for the motorcycle products since 1998, has seen the Zacks Consensus Estimate for its current year earnings increasing 11% over the last 60 day.
The Progressive Corporation Price and Consensus
The Progressive Corporation price-consensus-chart | The Progressive Corporation Quote
SK Telecom Co. SKM: This company which is the world's first commercial CDMA digital cellular service, has seen the Zacks Consensus Estimate for its current year earnings increasing 7.5% over the last 60 days.
SK Telecom Co., Ltd. Price and Consensus
SK Telecom Co., Ltd. price-consensus-chart | SK Telecom Co., Ltd. Quote
Axis Capital Holdings AXS: This company which provides a broad range of specialty insurance and reinsurance solutions to its clients on a worldwide basis, has seen the Zacks Consensus Estimate for its current year earnings increasing 6.7% over the last 60 days.
Axis Capital Holdings Limited Price and Consensus
Axis Capital Holdings Limited price-consensus-chart | Axis Capital Holdings Limited Quote
Canadian Imperial Bank of Commerce CM: This leading North American financial institution that offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, in the United States and around the world, has seen the Zacks Consensus Estimate for its current year earnings increasing 6.1% over the last 60 days.
Canadian Imperial Bank of Commerce Price and Consensus
Canadian Imperial Bank of Commerce price-consensus-chart | Canadian Imperial Bank of Commerce Quote
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Investment Research
Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.
Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.
A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score (part of the Zacks Style Scores system) helps identify great momentum stocks by paying close attention to trends in a stock's price or earnings, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.
DXP Enterprises (DXPE) is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:
A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 0.7%, the stock of this industrial products supplier is certainly well-positioned in this regard.
While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. DXPE meets this criterion too, as the stock gained 2.8% over the past 12 weeks.
Moreover, the momentum for DXPE is fast paced, as the stock currently has a beta of 1.6. This indicates that the stock moves 60% higher than the market in either direction.
Given this price performance, it is no surprise that DXPE has a Momentum Score of A, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.
In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped DXPE earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here
Most importantly, despite possessing fast-paced momentum features, DXPE is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. DXPE is currently trading at 0.47 times its sales. In other words, investors need to pay only 47 cents for each dollar of sales.
So, DXPE appears to have plenty of room to run, and that too at a fast pace.
In addition to DXPE, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
Zacks Investment Research
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.
In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.
One company value investors might notice is DXP Enterprises (DXPE). DXPE is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value. The stock is trading with a P/E ratio of 14.11, which compares to its industry's average of 20.93. Over the past 52 weeks, DXPE's Forward P/E has been as high as 17.28 and as low as 7.02, with a median of 12.69.
Another valuation metric that we should highlight is DXPE's P/B ratio of 2. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 5.29. Over the past year, DXPE's P/B has been as high as 2.40 and as low as 1.32, with a median of 1.81.
Finally, investors should note that DXPE has a P/CF ratio of 8.40. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 20.99. Within the past 12 months, DXPE's P/CF has been as high as 9.92 and as low as 5.18, with a median of 7.60.
Value investors will likely look at more than just these metrics, but the above data helps show that DXP Enterprises is likely undervalued currently. And when considering the strength of its earnings outlook, DXPE sticks out at as one of the market's strongest value stocks.
Zacks Investment Research
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Allegion (ALLE) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.
Allegion is one of 219 companies in the Industrial Products group. The Industrial Products group currently sits at #13 within the Zacks Sector Rank. 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. Allegion is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALLE's full-year earnings has moved 2.5% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ALLE has returned about 8.2% since the start of the calendar year. At the same time, Industrial Products stocks have gained an average of 4.7%. As we can see, Allegion is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, DXP Enterprises (DXPE), has outperformed the sector so far this year. The stock's year-to-date return is 42.4%.
The consensus estimate for DXP Enterprises' current year EPS has increased 12.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Allegion belongs to the Security and Safety Services industry, a group that includes 20 individual stocks and currently sits at #95 in the Zacks Industry Rank. On average, this group has gained an average of 16.6% so far this year, meaning that ALLE is slightly underperforming its industry in terms of year-to-date returns.
In contrast, DXP Enterprises falls under the Manufacturing - General Industrial industry. Currently, this industry has 44 stocks and is ranked #170. Since the beginning of the year, the industry has moved +4.6%.
Investors interested in the Industrial Products sector may want to keep a close eye on Allegion and DXP Enterprises as they attempt to continue their solid performance.
Zacks Investment Research
Sept 4 (Reuters) - DXP Enterprises Inc DXPE.O:
DXP ENTERPRISES, INC. ANNOUNCES ACQUISITION OF HARTWELL ENVIRONMENTAL CORPORATION
Source text for Eikon: (Full Story)
Further company coverage: DXPE.O
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