Stock Story -
What Happened?
Shares of industrial distributor DXP Enterprises (NASDAQ:DXPE) jumped 21.5% in the afternoon session after the company reported strong third-quarter earnings. DXP blew past analysts' sales, EPS, and EBITDA estimates as its acquisition-driven strategy continued to pay off. Notably, the company closed five acquisitions through the third quarter and already added two more for the next quarter. Zooming out, we think this was a good quarter with some key areas of upside.Is now the time to buy DXP? Find out by reading the original article on StockStory, it’s free.
What The Market Is Telling Us
DXP’s shares are somewhat volatile and have had 13 moves greater than 5% over the last year. But moves this big are rare even for DXP and indicate this news significantly impacted the market’s perception of the business.DXP is up 82.3% since the beginning of the year, and at $61.58 per share, has set a new 52-week high. Investors who bought $1,000 worth of DXP’s shares 5 years ago would now be looking at an investment worth $1,709.