StockNews.com Initiates Coverage on AMCON Distributing (NYSEAMERICAN:DIT)

Posted by Amy Steele on May 23rd, 2024

Research analysts at StockNews.com started coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT – Get Free Report) in a report released on Tuesday. The brokerage set a “hold” rating on the stock.

AMCON Distributing Price Performance

DIT opened at $143.99 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 2.50 and a debt-to-equity ratio of 1.07. AMCON Distributing has a 12-month low of $135.70 and a 12-month high of $249.99. The company has a market cap of $90.71 million, a price-to-earnings ratio of 10.17 and a beta of 0.55.

AMCON Distributing (NYSEAMERICAN:DIT – Get Free Report) last posted its earnings results on Thursday, April 18th. The company reported $0.89 earnings per share (EPS) for the quarter. AMCON Distributing had a net margin of 0.32% and a return on equity of 8.11%. The company had revenue of $601.88 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in AMCON Distributing stock. Empowered Funds LLC boosted its stake in shares of AMCON Distributing (NYSEAMERICAN:DIT – Free Report) by 7.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,442 shares of the company’s stock after acquiring an additional 175 shares during the period. Empowered Funds LLC owned about 0.39% of AMCON Distributing worth $449,000 at the end of the most recent quarter. 11.14% of the stock is currently owned by hedge funds and other institutional investors.

About AMCON Distributing

(Get Free Report)

AMCON Distributing Company, together with its subsidiaries, engages in the wholesale distribution of consumer products in the Central, Rocky Mountain, and Mid-South regions of the United States. It operates through Wholesale Distribution and Retail Health Food segments. The Wholesale Distribution segment distributes consumer products, including cigarettes and tobacco products, candy and other confectionery, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products, and institutional foodservice products.