Distribution Solutions Group (NASDAQ:DSGR) Hits New 1-Year High – Here’s Why

Distribution Solutions Group, Inc. (NASDAQ:DSGR – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $35.29 and last traded at $35.0250, with a volume of 100 shares traded. The stock had previously closed at $34.95.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings upgraded Distribution Solutions Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Zacks Research upgraded shares of Distribution Solutions Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Barrington Research set a $35.00 target price on shares of Distribution Solutions Group and gave the company a “market perform” rating in a research report on Friday, July 17th. Finally, Stephens set a $35.00 target price on Distribution Solutions Group in a research report on Thursday, July 16th. Four analysts have rated the stock with a Hold rating. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.00.

View Our Latest Stock Analysis on DSGR

Distribution Solutions Group Price Performance

The company’s 50 day simple moving average is $34.94 and its 200-day simple moving average is $30.46. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 145.94 and a beta of 0.54.

Distribution Solutions Group (NASDAQ:DSGR – Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.28. The firm had revenue of $573.62 million during the quarter, compared to the consensus estimate of $558.60 million. Distribution Solutions Group had a net margin of 0.44% and a return on equity of 9.33%. On average, equities research analysts predict that Distribution Solutions Group, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DSGR. BlackRock Inc. purchased a new stake in shares of Distribution Solutions Group during the 2nd quarter worth about $18,750,000. Nantahala Capital Management LLC acquired a new stake in shares of Distribution Solutions Group during the 2nd quarter valued at about $13,526,790. Norwood Investment Partners LP bought a new position in Distribution Solutions Group during the 2nd quarter valued at about $4,252,597. Groupe la Francaise acquired a new stake in shares of Distribution Solutions Group in the first quarter valued at $1,222,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Distribution Solutions Group in the 2nd quarter valued at $1,080,000. 91.64% of the stock is currently owned by institutional investors.

About Distribution Solutions Group

(Get Free Report)

Distribution Solutions Group, Inc is a specialty distribution company serving industrial, manufacturing and other business customers. It supplies products and related services that help customers maintain operations, support production and manage supply-chain needs.

The company operates through three businesses: Lawson Products, which provides maintenance, repair and operations supplies; Gexpro Services, which supports original equipment manufacturers with supply-chain and distribution services; and TestEquity, which distributes test and measurement equipment, electronic production supplies and environmental test chambers.

Distribution Solutions Group was formed in 2022 through the combination of Lawson Products and Gexpro Services, with TestEquity joining the group later that year.

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