Distribution Solutions Group (NASDAQ:DSGR) Reaches New 52-Week High at $37.45

Distribution Solutions Group, Inc. (NASDAQ:DSGR) reached a new 52-week high during trading on Friday . The stock traded as high as $37.45 and last traded at $37.44, with a volume of 15364 shares traded. The stock had previously closed at $36.22.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Stephens reaffirmed an “overweight” rating and set a $42.00 target price on shares of Distribution Solutions Group in a research note on Monday, August 5th. Barrington Research increased their target price on Distribution Solutions Group from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday.

Distribution Solutions Group Trading Up 2.5 %

The firm has a market capitalization of $1.74 billion, a P/E ratio of -86.24 and a beta of 0.99. The stock has a 50-day simple moving average of $31.88 and a two-hundred day simple moving average of $32.88. The company has a current ratio of 2.72, a quick ratio of 1.42 and a debt-to-equity ratio of 0.82.

Distribution Solutions Group (NASDAQ:DSGR) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. Distribution Solutions Group had a positive return on equity of 7.39% and a negative net margin of 1.25%. The firm had revenue of $439.54 million during the quarter, compared to the consensus estimate of $437.40 million. During the same period in the previous year, the company posted $0.26 earnings per share. On average, equities research analysts anticipate that Distribution Solutions Group, Inc. will post 1.19 earnings per share for the current year.

Insider Transactions at Distribution Solutions Group

In other Distribution Solutions Group news, Director Robert Zamarripa acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were bought at an average cost of $30.24 per share, with a total value of $120,960.00. Following the completion of the acquisition, the director now directly owns 33,105 shares in the company, valued at approximately $1,001,095.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 76.60% of the company’s stock.

Hedge Funds Weigh In On Distribution Solutions Group

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its position in Distribution Solutions Group by 8.6% during the first quarter. BNP Paribas Financial Markets now owns 8,500 shares of the company’s stock valued at $302,000 after buying an additional 676 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Distribution Solutions Group by 4.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,417 shares of the company’s stock worth $335,000 after acquiring an additional 406 shares during the last quarter. Inspire Investing LLC purchased a new position in shares of Distribution Solutions Group during the 1st quarter worth $352,000. California State Teachers Retirement System grew its holdings in shares of Distribution Solutions Group by 15.7% during the 1st quarter. California State Teachers Retirement System now owns 11,530 shares of the company’s stock worth $409,000 after purchasing an additional 1,563 shares during the period. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of Distribution Solutions Group during the 4th quarter worth about $420,000. 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.