Stock Buyback Program Authorized by Distribution Solutions Group (NASDAQ:DSGR) Board

Distribution Solutions Group (NASDAQ:DSGR) announced that its board has authorized a share buyback plan on Monday, November 17th, RTT News reports. The company plans to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Distribution Solutions Group Price Performance

NASDAQ DSGR traded up $0.22 during trading hours on Monday, reaching $26.44. The company’s stock had a trading volume of 181,345 shares, compared to its average volume of 60,884. Distribution Solutions Group has a fifty-two week low of $21.87 and a fifty-two week high of $40.08. The stock has a market cap of $1.22 billion, a PE ratio of 293.78 and a beta of 0.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.36 and a current ratio of 2.59. The company’s 50-day moving average is $29.02 and its two-hundred day moving average is $28.96.

Distribution Solutions Group (NASDAQ:DSGR) last announced its earnings results on Thursday, October 30th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Distribution Solutions Group had a net margin of 0.22% and a return on equity of 10.51%. Analysts forecast that Distribution Solutions Group will post 1.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DSGR shares. Weiss Ratings reissued a “sell (d)” rating on shares of Distribution Solutions Group in a report on Thursday. Barrington Research reiterated an “outperform” rating and issued a $41.00 price objective on shares of Distribution Solutions Group in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Distribution Solutions Group currently has an average rating of “Hold” and a consensus price target of $41.00.

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.