Distribution Solutions Group (NASDAQ:DSGR) Stock Price Up 6.9% – Here’s What Happened

Distribution Solutions Group, Inc. (NASDAQ:DSGR)’s share price was up 6.9% during mid-day trading on Thursday . The stock traded as high as $27.30 and last traded at $27.3750. Approximately 214,340 shares were traded during trading, an increase of 56% from the average daily volume of 137,613 shares. The stock had previously closed at $25.60.

Analysts Set New Price Targets

A number of research firms recently issued reports on DSGR. Barrington Research reiterated an “outperform” rating and set a $35.00 price objective on shares of Distribution Solutions Group in a research report on Monday, March 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Distribution Solutions Group in a report on Monday, December 29th. Finally, Zacks Research cut Distribution Solutions Group from a “hold” rating to a “strong sell” rating in a research note on Friday, March 13th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $35.00.

Distribution Solutions Group Price Performance

The company has a 50 day moving average price of $28.22 and a 200-day moving average price of $28.59. The company has a quick ratio of 1.35, a current ratio of 2.56 and a debt-to-equity ratio of 1.02. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 144.78 and a beta of 0.51.

Distribution Solutions Group (NASDAQ:DSGR) last posted its earnings results on Thursday, March 5th. The company reported $0.18 EPS 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 business had revenue of $481.60 million for the quarter, compared to analyst estimates of $496.30 million. As a group, equities research analysts predict that Distribution Solutions Group, Inc. will post 1.28 EPS for the current fiscal year.

Insider Activity at Distribution Solutions Group

In other Distribution Solutions Group news, Director Robert Zamarripa purchased 14,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were bought at an average price of $21.23 per share, for a total transaction of $297,220.00. Following the completion of the acquisition, the director owned 47,105 shares in the company, valued at approximately $1,000,039.15. This trade represents a 42.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 79.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew 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 valued at $32,000 after buying an additional 408 shares during the last quarter. Covestor Ltd raised its position in shares of Distribution Solutions Group by 27.3% during the third quarter. Covestor Ltd now owns 2,232 shares of the company’s stock worth $67,000 after acquiring an additional 478 shares during the last quarter. Barclays PLC raised its position in shares of 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 acquiring an additional 1,201 shares during the last quarter. Quarry LP acquired a new position in shares of Distribution Solutions Group in the third quarter worth approximately $42,000. Finally, Inspire Investing LLC boosted its holdings in Distribution Solutions Group by 9.9% in the fourth quarter. Inspire Investing LLC now owns 16,917 shares of the company’s stock valued at $463,000 after acquiring an additional 1,517 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

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.