Distribution Solutions Group (NASDAQ:DSGR) Hits New 12-Month High – What’s Next?

Shares of Distribution Solutions Group, Inc. (NASDAQ:DSGR) hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $35.29 and last traded at $35.0250, with a volume of 100 shares. The stock had previously closed at $34.95.

Analysts Set New Price Targets

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

Distribution Solutions Group Stock Performance

The company has a current ratio of 2.47, a quick ratio of 1.33 and a debt-to-equity ratio of 1.23. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 24.45 and a beta of 0.54. The stock’s 50-day simple moving average is $34.95 and its 200-day simple moving average is $30.52.

Distribution Solutions Group (NASDAQ:DSGR) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.28. Distribution Solutions Group had a net margin of 0.54% and a return on equity of 10.32%. The business had revenue of $573.62 million for the quarter, compared to analyst estimates of $558.60 million. Analysts forecast that Distribution Solutions Group, Inc. will post 1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Distribution Solutions Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc acquired a new stake in shares of Distribution Solutions Group during the third quarter worth $26,000. Global Retirement Partners LLC increased its holdings in Distribution Solutions Group by 1,993.5% during the 3rd quarter. Global Retirement Partners LLC now owns 963 shares of the company’s stock worth $34,000 after purchasing an additional 917 shares in the last quarter. Signaturefd LLC boosted its holdings in Distribution Solutions Group by 123.6% during the third quarter. Signaturefd LLC now owns 1,004 shares of the company’s stock worth $35,000 after purchasing an additional 555 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Distribution Solutions Group during the 3rd quarter valued at $104,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Distribution Solutions Group by 82,500.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,304 shares of the company’s stock worth $115,000 after purchasing an additional 3,300 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

About Distribution Solutions Group

Distribution Solutions Group, Inc. is a specialty distribution company serving industrial, manufacturing and other business customers. It supplies products and related services that help customers maintain operations, support production and manage supply-chain needs. The company operates through three businesses: Lawson Products, which provides maintenance, repair and operations supplies; Gexpro Services, which supports original equipment manufacturers with supply-chain and distribution services; and TestEquity, which distributes test and measurement equipment, electronic production supplies and environmental test chambers.