Distribution Solutions Group (NASDAQ:DSGR) Trading 4.7% Higher - Here's Why

Distribution Solutions Group, Inc. (NASDAQ:DSGR - Get Free Report) rose 4.7% during mid-day trading on Monday . The stock traded as high as $29.64 and last traded at $29.58. Approximately 86,056 shares traded hands during trading, an increase of 40% from the average daily volume of 61,598 shares. The stock had previously closed at $28.24.

Wall Street Analysts Forecast Growth

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

Distribution Solutions Group Trading Up 4.7%

The company has a market cap of $1.37 billion, a price-to-earnings ratio of 328.67 and a beta of 0.61. The company has a current ratio of 2.59, a quick ratio of 1.36 and a debt-to-equity ratio of 1.04. The business's 50 day moving average price is $30.80 and its 200-day moving average price is $28.70.

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

Institutional Trading of Distribution Solutions Group

Several hedge funds have recently added to or reduced their stakes in DSGR. GAMMA Investing LLC grew its holdings in Distribution Solutions Group by 1,888.8% in the 1st quarter. GAMMA Investing LLC now owns 2,128 shares of the company's stock valued at $60,000 after buying an additional 2,021 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Distribution Solutions Group by 3.8% in the first quarter. Rhumbline Advisers now owns 14,710 shares of the company's stock valued at $412,000 after acquiring an additional 532 shares during the period. Nuveen LLC acquired a new position in shares of Distribution Solutions Group in the first quarter valued at about $876,000. Catawba River Capital grew its stake in shares of Distribution Solutions Group by 16.3% in the second quarter. Catawba River Capital now owns 218,689 shares of the company's stock valued at $6,007,000 after acquiring an additional 30,685 shares in the last quarter. Finally, Swedbank AB increased its position in Distribution Solutions Group by 2.1% during the first quarter. Swedbank AB now owns 675,000 shares of the company's stock worth $18,900,000 after acquiring an additional 13,708 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

About Distribution Solutions Group

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.

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