Distribution Solutions Group (NASDAQ:DSGR) to Buyback $30.00 million in Shares

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

Analysts Set New Price Targets

Several research firms recently commented on DSGR. Weiss Ratings reissued a “sell (d)” rating on shares of Distribution Solutions Group in a research note on Thursday, November 13th. Barrington Research reissued an “outperform” rating and issued a $41.00 price target on shares of Distribution Solutions Group in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.00.

Distribution Solutions Group Price Performance

Shares of NASDAQ:DSGR opened at $26.54 on Thursday. The company has a quick ratio of 1.36, a current ratio of 2.59 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $1.23 billion, a PE ratio of 294.89 and a beta of 0.61. The firm’s 50 day moving average price is $28.84 and its 200-day moving average price is $28.95. Distribution Solutions Group has a twelve month low of $21.87 and a twelve month high of $40.08.

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%. Equities research analysts expect that Distribution Solutions Group will post 1.28 EPS for the current year.

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.