Distribution Solutions Group (NASDAQ:DSGR) Hits New 52-Week High – What’s Next?

Distribution Solutions Group, Inc. (NASDAQ:DSGR)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $39.43 and last traded at $39.34, with a volume of 50743 shares traded. The stock had previously closed at $38.37.

Analysts Set New Price Targets

Several brokerages have weighed in on DSGR. Stephens restated an “overweight” rating and set a $42.00 price target on shares of Distribution Solutions Group in a report on Monday, August 5th. Barrington Research boosted their price target on shares of Distribution Solutions Group from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, August 19th.

Distribution Solutions Group Stock Up 3.5 %

The firm’s 50 day moving average price is $35.99 and its two-hundred day moving average price is $33.99. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -93.29 and a beta of 0.97. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.50 and a quick ratio of 1.28.

Distribution Solutions Group (NASDAQ:DSGR) last issued its earnings results on Thursday, August 1st. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $439.54 million for the quarter, compared to the consensus estimate of $437.40 million. Distribution Solutions Group had a negative net margin of 1.25% and a positive return on equity of 7.42%. During the same quarter in the previous year, the firm earned $0.26 earnings per share. As a group, sell-side analysts forecast that Distribution Solutions Group, Inc. will post 1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Distribution Solutions Group

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Distribution Solutions Group in the 3rd quarter valued at approximately $150,000. Renaissance Technologies LLC increased its stake in shares of Distribution Solutions Group by 12.5% during the 2nd quarter. Renaissance Technologies LLC now owns 120,400 shares of the company’s stock valued at $3,612,000 after acquiring an additional 13,400 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Distribution Solutions Group by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 915,208 shares of the company’s stock worth $27,457,000 after purchasing an additional 14,059 shares during the period. Rhumbline Advisers raised its position in shares of Distribution Solutions Group by 11.1% in the 2nd quarter. Rhumbline Advisers now owns 13,986 shares of the company’s stock worth $420,000 after buying an additional 1,398 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Distribution Solutions Group by 13.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,489 shares of the company’s stock worth $1,305,000 after purchasing an additional 5,309 shares during the period. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

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.