Distribution Solutions Group (NASDAQ:DSGR – Get Free Report) was downgraded by Barrington Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday,Zacks.com reports.
Several other equities research analysts have also recently weighed in on the company. Stephens set a $35.00 target price on Distribution Solutions Group in a report on Thursday. Weiss Ratings cut shares of Distribution Solutions Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, July 10th. Finally, Zacks Research downgraded Distribution Solutions Group from a “hold” rating to a “strong sell” rating in a report on Thursday, June 11th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Distribution Solutions Group currently has an average rating of “Reduce” and a consensus target price of $35.00.
View Our Latest Stock Analysis on Distribution Solutions Group
Distribution Solutions Group Trading Up 0.2%
Distribution Solutions Group (NASDAQ:DSGR – Get Free Report) last posted 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). Distribution Solutions Group had a return on equity of 8.49% and a net margin of 0.27%.The company had revenue of $496.00 million during the quarter, compared to the consensus estimate of $489.30 million. On average, equities analysts expect that Distribution Solutions Group will post 1.31 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Distribution Solutions Group
Several institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its position in Distribution Solutions Group by 53.5% in the second quarter. BNP Paribas Financial Markets now owns 1,170 shares of the company’s stock worth $32,000 after buying an additional 408 shares in the last quarter. Quarry LP purchased a new position in shares of Distribution Solutions Group during the 3rd quarter valued at about $42,000. Tudor Investment Corp ET AL bought a new position in shares of Distribution Solutions Group during the 3rd quarter valued at approximately $226,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Distribution Solutions Group during the 1st quarter valued at approximately $229,000. Finally, R Squared Ltd bought a new position in shares of Distribution Solutions Group during the 4th quarter valued at approximately $238,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.
Distribution Solutions Group News Roundup
Here are the key news stories impacting Distribution Solutions Group this week:
- Positive Sentiment: DSGR agreed to be acquired by affiliates of LKCM Headwater Investments for $35.00 per share in cash, giving investors a clear exit price and effectively putting a floor under the stock. Distribution Solutions Group to Be Taken Private by Affiliates of LKCM Headwater Investments for $35.00 Per Common Share in Cash
- Positive Sentiment: The merger announcement likely explains the stock’s strength, as shares are trading close to the deal value and volume has picked up on the news.
- Neutral Sentiment: TestEquity, a DSGR business, announced expanded environmental chamber sales representation across the Midwest, which is modestly supportive but not likely a major stock driver by itself. TestEquity Expands Environmental Chamber Sales Reach with Millennium Alliance Representation Across the Midwest
- Negative Sentiment: Stephens downgraded DSGR from strong-buy to hold, signaling less upside from an analyst perspective now that the acquisition price is largely known. Zacks.com report on Stephens downgrade
- Negative Sentiment: Multiple law firms, including Kaskela Law, Halper Sadeh, and Ademi LLP, launched investigations into whether the $35.00 per share buyout price is fair to shareholders, raising the risk of litigation and potential deal scrutiny. Kaskela Law Firm shareholder investigation
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.
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