Distribution Solutions Group (NASDAQ:DSGR) Reaches New 52-Week High – Here’s What Happened

Shares of Distribution Solutions Group, Inc. (NASDAQ:DSGR) hit a new 52-week high on Thursday . The company traded as high as $34.37 and last traded at $34.6680, with a volume of 55463 shares. The stock had previously closed at $27.48.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DSGR. Stephens reissued an “overweight” rating and issued a $36.00 price objective on shares of Distribution Solutions Group in a research note on Tuesday, May 5th. Weiss Ratings cut Distribution Solutions Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 10th. Zacks Research downgraded shares of Distribution Solutions Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 11th. Finally, Barrington Research lowered their price objective on shares of Distribution Solutions Group from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $34.50.

Distribution Solutions Group Trading Up 25.3%

The company has a quick ratio of 1.39, a current ratio of 2.63 and a debt-to-equity ratio of 1.07. The firm has a 50 day moving average price of $27.37 and a 200 day moving average price of $27.66. The stock has a market capitalization of $1.59 billion, a PE ratio of 286.81 and a beta of 0.56.

Distribution Solutions Group (NASDAQ:DSGR) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). The firm had revenue of $496.00 million for the quarter, compared to the consensus estimate of $489.30 million. Distribution Solutions Group had a net margin of 0.27% and a return on equity of 8.49%. Equities analysts expect that Distribution Solutions Group, Inc. will post 1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Distribution Solutions Group

A number of large investors have recently made changes to their positions in the stock. Nantahala Capital Management LLC purchased a new position in shares of Distribution Solutions Group in the second quarter valued at $5,791,000. Agman Capital LLC purchased a new stake in Distribution Solutions Group during the 4th quarter worth about $4,954,000. Blair William & Co. IL purchased a new stake in Distribution Solutions Group during the 4th quarter worth about $3,092,000. Highlander Partners L.P. bought a new position in Distribution Solutions Group in the 4th quarter worth about $2,353,000. Finally, Goldman Sachs Group Inc. boosted its stake in Distribution Solutions Group by 364.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 78,365 shares of the company’s stock worth $2,146,000 after purchasing an additional 61,500 shares during the period. 91.64% of the stock is owned by institutional investors.

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. 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.