Shares of Distribution Solutions Group, Inc. (NASDAQ:DSGR – Get Free Report) saw strong trading volume on Wednesday . 362,264 shares traded hands during trading, an increase of 151% from the previous session’s volume of 144,414 shares.The stock last traded at $34.7550 and had previously closed at $34.70.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. Zacks Research raised shares of Distribution Solutions Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Stephens set a $35.00 price target on Distribution Solutions Group in a report on Thursday, July 16th. Weiss Ratings upgraded Distribution Solutions Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 28th. Finally, Barrington Research set a $35.00 target price on Distribution Solutions Group and gave the stock a “market perform” rating in a research report on Friday, July 17th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $35.00.
Distribution Solutions Group Stock Performance
Distribution Solutions Group (NASDAQ:DSGR – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.25. The business had revenue of $557.73 million for the quarter, compared to analysts’ expectations of $520.75 million. Distribution Solutions Group had a net margin of 0.44% and a return on equity of 9.33%. Equities analysts expect that Distribution Solutions Group, Inc. will post 1.35 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in shares of Distribution Solutions Group by 53.5% during the second quarter. BNP Paribas Financial Markets now owns 1,170 shares of the company’s stock valued at $32,000 after acquiring an additional 408 shares during the period. Quarry LP acquired a new stake in Distribution Solutions Group in the third quarter worth approximately $42,000. Legal & General Group Plc acquired a new stake in Distribution Solutions Group in the second quarter worth approximately $164,000. Arrowstreet Capital Limited Partnership bought a new position in Distribution Solutions Group during the 1st quarter valued at $229,000. Finally, Millennium Management LLC acquired a new position in shares of Distribution Solutions Group during the 3rd quarter valued at $245,000. 91.64% of the stock is currently owned by institutional investors.
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. 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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