Distribution Solutions Group (NASDAQ:DSGR) Shares Gap Up After Strong Earnings

Distribution Solutions Group, Inc. (NASDAQ:DSGR) shares gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $27.75, but opened at $29.87. Distribution Solutions Group shares last traded at $28.92, with a volume of 15,937 shares traded.

The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. Distribution Solutions Group had a return on equity of 8.89% and a net margin of 0.13%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research lifted their target price on shares of Distribution Solutions Group from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th.

Institutional Investors Weigh In On Distribution Solutions Group

Several institutional investors have recently made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new position in shares of Distribution Solutions Group during the 4th quarter valued at $68,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Distribution Solutions Group in the third quarter worth about $87,000. SG Americas Securities LLC boosted its stake in shares of Distribution Solutions Group by 26.8% during the 4th quarter. SG Americas Securities LLC now owns 4,952 shares of the company’s stock worth $170,000 after acquiring an additional 1,046 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Distribution Solutions Group by 47.8% during the 4th quarter. Wells Fargo & Company MN now owns 5,055 shares of the company’s stock valued at $174,000 after acquiring an additional 1,634 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Distribution Solutions Group by 21.6% in the 3rd 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 in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Distribution Solutions Group Trading Up 4.1 %

The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 742.54 and a beta of 0.95. The company has a current ratio of 2.81, a quick ratio of 1.55 and a debt-to-equity ratio of 1.03. The company has a fifty day moving average of $32.21 and a two-hundred day moving average of $35.91.

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.