Distribution Solutions Group (NASDAQ:DSGR) Announces Earnings Results

Distribution Solutions Group (NASDAQ:DSGR) announced its quarterly earnings results on Thursday. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.19, FiscalAI reports. The firm had revenue of $557.73 million for the quarter, compared to the consensus estimate of $520.40 million. Distribution Solutions Group had a return on equity of 8.49% and a net margin of 0.27%.

Distribution Solutions Group Price Performance

Distribution Solutions Group stock traded up $0.02 during mid-day trading on Thursday, reaching $34.82. 138,491 shares of the company were exchanged, compared to its average volume of 332,047. The company has a fifty day simple moving average of $29.75 and a 200-day simple moving average of $28.29. Distribution Solutions Group has a 12 month low of $19.02 and a 12 month high of $35.06. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.63 and a quick ratio of 1.39. The firm has a market cap of $1.61 billion, a PE ratio of 290.17 and a beta of 0.54.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Distribution Solutions Group by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 915,030 shares of the company’s stock valued at $27,522,000 after purchasing an additional 6,882 shares in the last quarter. Nantahala Capital Management LLC lifted its stake in Distribution Solutions Group by 43.3% during the fourth quarter. Nantahala Capital Management LLC now owns 330,000 shares of the company’s stock worth $9,039,000 after purchasing an additional 99,661 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Distribution Solutions Group by 34.6% in the 4th quarter. First Trust Advisors LP now owns 155,519 shares of the company’s stock valued at $4,260,000 after purchasing an additional 39,974 shares in the last quarter. Blair William & Co. IL acquired a new stake in shares of Distribution Solutions Group in the 4th quarter valued at $3,092,000. Finally, Monimus Capital Management LP increased its stake in shares of Distribution Solutions Group by 13.0% in the 2nd quarter. Monimus Capital Management LP now owns 101,009 shares of the company’s stock valued at $2,775,000 after purchasing an additional 11,590 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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. 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.