Distribution Solutions Group (NASDAQ:DSGR) Sets New 52-Week High - Here's What Happened

Key Points

• Distribution Solutions Group shares reached a new 52-week high of $35.10, with the stock trading near $35.06 and up modestly from its previous close.
• Analysts maintain a consensus “Hold” rating and a $35.00 price target, despite recent upgrades from “sell” or “strong sell” to “hold.”
• The company exceeded quarterly expectations, reporting $0.47 earnings per share versus a $0.22 estimate and revenue of $557.73 million versus a $520.75 million consensus forecast; institutional investors own 91.64% of the stock.

Distribution Solutions Group, Inc. (NASDAQ:DSGR - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday. The stock traded as high as $35.10 and last traded at $35.0550, with a volume of 41863 shares trading hands. The stock had previously closed at $35.02.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DSGR. Stephens set a $35.00 price target on Distribution Solutions Group in a research note on Thursday, July 16th. Weiss Ratings raised shares of Distribution Solutions Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 28th. Barrington Research set a $35.00 target price on shares of Distribution Solutions Group and gave the company a "market perform" rating in a research report on Friday, July 17th. Finally, Zacks Research raised shares of Distribution Solutions Group from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $35.00.

Distribution Solutions Group Trading Up 0.1%

The business has a fifty day moving average of $34.80 and a 200-day moving average of $30.27. 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 company has a market capitalization of $1.62 billion, a P/E ratio of 184.50 and a beta of 0.53.

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

Institutional Trading of Distribution Solutions Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc bought a new stake in Distribution Solutions Group during the third quarter worth $26,000. Groupe la Francaise lifted its stake in Distribution Solutions Group by 2.6% during the 2nd quarter. Groupe la Francaise now owns 47,775 shares of the company's stock valued at $1,307,000 after acquiring an additional 1,200 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in Distribution Solutions Group during the 2nd quarter worth $13,526,790. Pingora Partners LLC bought a new stake in shares of Distribution Solutions Group in the 2nd quarter worth $323,000. Finally, Bank of America Corp DE bought a new stake in shares of Distribution Solutions Group in the 2nd quarter worth $283,000. 91.64% of the stock is owned by institutional investors.

Distribution Solutions Group Company Profile

Distribution Solutions Group, Inc is a specialty distribution company that provides maintenance, repair, operations (MRO), industrial, electronic production, and supply-chain solutions to businesses. The company serves customers across industries including manufacturing, aerospace and defense, automotive, electronics, utilities, and other commercial and government markets.

Through its operating businesses, Distribution Solutions Group offers products such as industrial and maintenance supplies, safety equipment, fasteners, electrical and electronic components, wire and cable, interconnect products, test and measurement instruments, environmental test chambers, and electronic production supplies.

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