Distribution Solutions Group (NASDAQ:DSGR) Sees Strong Trading Volume – Here’s What Happened

Distribution Solutions Group, Inc. (NASDAQ:DSGR) shares saw unusually-strong trading volume on Thursday . Approximately 62,924 shares were traded during mid-day trading, an increase of 10% from the previous session’s volume of 56,997 shares.The stock last traded at $30.15 and had previously closed at $30.36.

Analysts Set New Price Targets

DSGR has been the topic of a number of research analyst reports. Barrington Research restated an “outperform” rating and set a $41.00 price target on shares of Distribution Solutions Group in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Distribution Solutions Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.00.

Distribution Solutions Group Stock Performance

The stock’s 50 day moving average is $27.97 and its 200 day moving average is $29.30. The company has a current ratio of 2.50, a quick ratio of 1.38 and a debt-to-equity ratio of 1.02. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -131.30 and a beta of 0.53.

Distribution Solutions Group (NASDAQ:DSGR) last announced its earnings results on Thursday, October 30th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Distribution Solutions Group had a negative net margin of 0.57% and a positive return on equity of 10.79%. Analysts anticipate that Distribution Solutions Group, Inc. will post 1.28 earnings per share for the current year.

Distribution Solutions Group announced that its board has authorized a stock buyback plan on Monday, November 17th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Distribution Solutions Group

A number of institutional investors have recently made changes to their positions in DSGR. BNP Paribas Financial Markets boosted its position in Distribution Solutions Group by 53.5% during the second quarter. BNP Paribas Financial Markets now owns 1,170 shares of the company’s stock valued at $32,000 after acquiring an additional 408 shares during the last quarter. Quarry LP acquired a new stake in shares of Distribution Solutions Group in the 3rd quarter valued at about $42,000. Covestor Ltd increased its position in Distribution Solutions Group by 27.3% in the 3rd quarter. Covestor Ltd now owns 2,232 shares of the company’s stock valued at $67,000 after buying an additional 478 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Distribution Solutions Group during the third quarter worth approximately $80,000. Finally, Tudor Investment Corp ET AL bought a new stake in Distribution Solutions Group during the 3rd quarter valued at $226,000. Institutional investors own 91.64% of the company’s stock.

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.