Distribution Solutions Group (NASDAQ:DSGR) Sees Strong Trading Volume - Here's Why

Key Points

• Distribution Solutions Group shares traded 122,742 shares, down 22% from the prior session, while closing nearly unchanged at $35.065.
• Analysts remain cautious, with all four covering firms rating the stock “Hold” and setting an average price target of $35.00.
• The company exceeded quarterly expectations, reporting $0.47 in earnings per share versus a $0.22 consensus estimate and revenue of $557.73 million versus expectations of $520.75 million; institutional investors own 91.64% of the stock.

Shares of Distribution Solutions Group, Inc. (NASDAQ:DSGR - Get Free Report) saw strong trading volume on Friday. 122,742 shares were traded during trading, a decline of 22% from the previous session's volume of 156,719 shares. The stock last traded at $35.0650 and had previously closed at $35.07.

Analyst Ratings Changes

Several research analysts have commented on the company. Barrington Research set a $35.00 target price on Distribution Solutions Group and gave the stock a "market perform" rating in a report on Friday, July 17th. Zacks Research raised Distribution Solutions Group from a "strong sell" rating to a "hold" rating in a research report on Monday, July 20th. Weiss Ratings upgraded shares of Distribution Solutions Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Finally, Stephens set a $35.00 price target on shares of Distribution Solutions Group in a report on Thursday, July 16th. Four equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Distribution Solutions Group has an average rating of "Hold" and an average target price of $35.00.

Distribution Solutions Group Price Performance

The business's 50-day moving average price is $34.89 and its 200 day moving average price is $31.07. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a market capitalization of $1.62 billion, a PE ratio of 184.50 and a beta of 0.53.

Distribution Solutions Group (NASDAQ:DSGR - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.25. Distribution Solutions Group had a return on equity of 9.33% and a net margin of 0.44%. The firm had revenue of $557.73 million for the quarter, compared to analysts' expectations of $520.75 million. Research analysts forecast that Distribution Solutions Group, Inc. will post 1.35 earnings per share for the current year.

Hedge Funds Weigh In On Distribution Solutions Group

A number of large investors have recently modified their holdings of DSGR. Versant Capital Management Inc purchased a new position in Distribution Solutions Group in the 3rd quarter worth $26,000. Fortitude Family Office LLC purchased a new position in shares of Distribution Solutions Group during the third quarter valued at approximately $104,000. Farther Finance Advisors LLC increased its position in Distribution Solutions Group by 82,500.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,304 shares of the company's stock valued at $115,000 after purchasing an additional 3,300 shares during the period. Legal & General Group Plc bought a new position in Distribution Solutions Group in the second quarter worth about $164,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Distribution Solutions Group in the 1st quarter valued at approximately $229,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

About Distribution Solutions Group

Distribution Solutions Group, Inc NASDAQ: DSGR is a specialty distribution company that supplies maintenance, repair, operating and production-related products to industrial and commercial customers. Its offerings include fasteners, cutting tools, safety products, electrical and electronic components, automation supplies, and other products used to maintain facilities and manufacturing operations.

The company serves customers through several specialized distribution businesses, including Lawson Products, Gexpro Services, and TestEquity.

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