Barrington Research Reaffirms “Outperform” Rating for Distribution Solutions Group (NASDAQ:DSGR)

Distribution Solutions Group (NASDAQ:DSGR)‘s stock had its “outperform” rating reaffirmed by research analysts at Barrington Research in a research report issued on Monday,Benzinga reports. They currently have a $35.00 price target on the stock. Barrington Research’s price objective would indicate a potential upside of 36.53% from the company’s current price.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Distribution Solutions Group in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Distribution Solutions Group has an average rating of “Hold” and an average price target of $35.00.

Distribution Solutions Group Trading Up 32.8%

Shares of DSGR traded up $6.33 during midday trading on Monday, hitting $25.64. The stock had a trading volume of 1,102,897 shares, compared to its average volume of 127,153. The business has a 50-day simple moving average of $28.54 and a two-hundred day simple moving average of $28.76. The company has a current ratio of 2.56, a quick ratio of 1.35 and a debt-to-equity ratio of 1.02. The firm has a market cap of $1.18 billion, a P/E ratio of 142.42 and a beta of 0.51. Distribution Solutions Group has a fifty-two week low of $19.02 and a fifty-two week high of $33.80.

Distribution Solutions Group (NASDAQ:DSGR) last issued its earnings results on Thursday, March 5th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.14). Distribution Solutions Group had a return on equity of 9.02% and a net margin of 0.42%.The firm had revenue of $481.60 million during the quarter, compared to analyst estimates of $496.30 million. As a group, equities analysts forecast that Distribution Solutions Group will post 1.28 EPS for the current year.

Distribution Solutions Group announced that its board has approved a stock repurchase plan on Monday, November 17th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, Director Robert Zamarripa bought 14,000 shares of Distribution Solutions Group stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average price of $21.23 per share, with a total value of $297,220.00. Following the acquisition, the director owned 47,105 shares of the company’s stock, valued at approximately $1,000,039.15. This represents a 42.29% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 76.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Distribution Solutions Group

A number of hedge funds have recently made changes to their positions in DSGR. BNP Paribas Financial Markets raised its position in shares of Distribution Solutions Group by 53.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,170 shares of the company’s stock worth $32,000 after acquiring an additional 408 shares in the last quarter. Covestor Ltd lifted its holdings in Distribution Solutions Group by 27.3% during the 3rd quarter. Covestor Ltd now owns 2,232 shares of the company’s stock worth $67,000 after purchasing an additional 478 shares in the last quarter. Barclays PLC grew its position in Distribution Solutions Group by 8.5% during the fourth quarter. Barclays PLC now owns 15,327 shares of the company’s stock worth $420,000 after buying an additional 1,201 shares in the last quarter. Quarry LP purchased a new stake in Distribution Solutions Group during the third quarter valued at about $42,000. Finally, Inspire Investing LLC increased its holdings in shares of Distribution Solutions Group by 9.9% in the fourth quarter. Inspire Investing LLC now owns 16,917 shares of the company’s stock worth $463,000 after buying an additional 1,517 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Distribution Solutions Group Company Profile

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. It operates through three segments: Lawson, Gexpro Services, and TestEquity. The Lawson segment distributes of specialty products and services to the industrial, commercial, institutional, and government MRO market.