Distribution Solutions Group, Inc. (NASDAQ:DSGR) Sees Significant Decrease in Short Interest

Distribution Solutions Group, Inc. (NASDAQ:DSGR) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 280,500 shares, a decrease of 5.6% from the October 15th total of 297,100 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily trading volume, of 46,400 shares, the days-to-cover ratio is presently 6.0 days.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DSGR shares. Stephens reissued 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 lifted their price objective on Distribution Solutions Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th.

Institutional Investors Weigh In On Distribution Solutions Group

Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Distribution Solutions Group in the third quarter worth about $87,000. SG Americas Securities LLC bought a new position in shares of Distribution Solutions Group in the 3rd quarter valued at approximately $150,000. BNP Paribas Financial Markets lifted its holdings in Distribution Solutions Group by 21.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,014 shares of the company’s stock worth $193,000 after purchasing an additional 891 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Distribution Solutions Group during the third quarter worth approximately $251,000. Finally, Price T Rowe Associates Inc. MD grew its holdings 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 valued at $335,000 after purchasing an additional 406 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

Distribution Solutions Group Trading Up 0.9 %

Shares of NASDAQ DSGR opened at $37.96 on Tuesday. The business has a 50 day simple moving average of $38.26 and a 200 day simple moving average of $34.95. Distribution Solutions Group has a 52 week low of $25.03 and a 52 week high of $41.47. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 949.11 and a beta of 0.96. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.55 and a current ratio of 2.81.

Distribution Solutions Group (NASDAQ:DSGR) last posted its earnings results on Thursday, October 31st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). Distribution Solutions Group had a return on equity of 8.89% and a net margin of 0.13%. The business had revenue of $468.02 million during the quarter, compared to the consensus estimate of $469.80 million. During the same period in the prior year, the firm earned $0.17 earnings per share. On average, research analysts predict that Distribution Solutions Group will post 1.39 earnings per share for the current fiscal year.

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.