Distribution Solutions Group (NASDAQ:DSGR) Shares Gap Up - Here's Why

Key Points

• Distribution Solutions Group's shares opened higher at $29.65 after closing at $28.24, with a latest trading price of $29.72.
• Analysts have a consensus rating of "Moderate Buy" for the stock, with a raised average price target of $41.00.
• The company reported a missed EPS estimate of $0.35 for the last quarter, while revenue exceeded expectations at $502.44 million.

Shares of Distribution Solutions Group, Inc. (NASDAQ:DSGR - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $28.24, but opened at $29.65. Distribution Solutions Group shares last traded at $29.72, with a volume of 596 shares.

Analyst Ratings Changes

Several analysts have recently weighed in on DSGR shares. Barrington Research raised their target price on Distribution Solutions Group from $39.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, August 25th. Weiss Ratings reissued a "hold (c)" rating on shares of Distribution Solutions Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Distribution Solutions Group Price Performance

The company has a market cap of $1.38 billion, a P/E ratio of 331.11 and a beta of 0.61. The company's 50-day moving average price is $30.80 and its two-hundred day moving average price is $28.70. The company has a current ratio of 2.59, a quick ratio of 1.36 and a debt-to-equity ratio of 1.04.

Distribution Solutions Group (NASDAQ:DSGR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $502.44 million for the quarter, compared to the consensus estimate of $484.43 million. Distribution Solutions Group had a return on equity of 10.51% and a net margin of 0.22%. As a group, sell-side analysts expect that Distribution Solutions Group, Inc. will post 1.28 earnings per share for the current year.

Institutional Investors Weigh In On Distribution Solutions Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Swedbank AB boosted its holdings in Distribution Solutions Group by 2.1% in the first quarter. Swedbank AB now owns 675,000 shares of the company's stock worth $18,900,000 after purchasing an additional 13,708 shares during the period. Schwartz Investment Counsel Inc. lifted its position in shares of Distribution Solutions Group by 32.2% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 330,424 shares of the company's stock worth $9,077,000 after buying an additional 80,532 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Distribution Solutions Group by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 261,782 shares of the company's stock valued at $7,193,000 after buying an additional 6,038 shares during the period. Catawba River Capital boosted its holdings in shares of Distribution Solutions Group by 16.3% in the 2nd quarter. Catawba River Capital now owns 218,689 shares of the company's stock valued at $6,007,000 after buying an additional 30,685 shares during the period. Finally, Nantahala Capital Management LLC bought a new stake in shares of Distribution Solutions Group during the 2nd quarter valued at about $5,791,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Distribution Solutions Group Company Profile

Distribution Solutions Group, Inc, a specialty distribution company, engages in the provision of value-added distribution solutions in North America, Europe, Asia, South America, and the Middle East. The company provides its solutions to the maintenance, repair, and operations (MRO); original equipment manufacturer (OEM); and industrial technology markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.