StockNews.com Initiates Coverage on AMCON Distributing (NYSEAMERICAN:DIT)

Analysts at StockNews.com initiated coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research note issued on Monday. The firm set a “hold” rating on the stock.

AMCON Distributing Price Performance

Shares of AMCON Distributing stock opened at $140.00 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.15 and a current ratio of 3.05. The firm has a market capitalization of $88.20 million, a price-to-earnings ratio of 9.89 and a beta of 0.51. AMCON Distributing has a 12-month low of $119.34 and a 12-month high of $210.53.

AMCON Distributing (NYSEAMERICAN:DIT) last announced its earnings results on Thursday, July 18th. The company reported $2.46 earnings per share (EPS) for the quarter. AMCON Distributing had a net margin of 0.23% and a return on equity of 5.65%. The business had revenue of $717.85 million for the quarter.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC raised its stake in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,200 shares of the company’s stock after purchasing an additional 200 shares during the quarter. CM Management LLC owned 1.30% of AMCON Distributing worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 11.14% of the company’s stock.

AMCON Distributing Company Profile

AMCON Distributing Company, together with its subsidiaries, engages in the wholesale distribution of consumer products in the Central, Rocky Mountain, and Mid-South regions of the United States. It operates through Wholesale Distribution and Retail Health Food segments. The Wholesale Distribution segment distributes consumer products, including cigarettes and tobacco products, candy and other confectionery, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products, and institutional foodservice products.