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

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barrington Research boosted their price objective on Distribution Solutions Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of Distribution Solutions Group in a research report on Monday, August 5th.

Distribution Solutions Group Trading Up 0.9 %

Shares of NASDAQ:DSGR opened at $37.96 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.55 and a current ratio of 2.81. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 949.11 and a beta of 0.96. Distribution Solutions Group has a 1-year low of $25.03 and a 1-year high of $41.47. The company has a 50 day moving average price of $38.26 and a 200 day moving average price of $34.95.

Distribution Solutions Group (NASDAQ:DSGR) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The company had revenue of $468.02 million for the quarter, compared to analyst estimates of $469.80 million. Distribution Solutions Group had a net margin of 0.13% and a return on equity of 8.89%. During the same quarter last year, the company posted $0.17 EPS. On average, research analysts anticipate that Distribution Solutions Group will post 1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Distribution Solutions Group

A number of hedge funds and other institutional investors have recently modified their holdings of DSGR. Barclays PLC raised its holdings in Distribution Solutions Group by 342.0% during the 3rd quarter. Barclays PLC now owns 17,007 shares of the company’s stock worth $654,000 after buying an additional 13,159 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Distribution Solutions Group during the third quarter valued at approximately $87,000. BNP Paribas Financial Markets raised its holdings in shares of Distribution Solutions Group by 21.6% during the third quarter. BNP Paribas Financial Markets now owns 5,014 shares of the company’s stock valued at $193,000 after acquiring an additional 891 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Distribution Solutions Group in the 3rd quarter valued at approximately $251,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Distribution Solutions Group by 13.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,536 shares of the company’s stock worth $829,000 after purchasing an additional 2,569 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.