Distribution Solutions Group (NASDAQ:DSGR) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Distribution Solutions Group (NASDAQ:DSGR) issued its quarterly earnings data on Thursday. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.19, FiscalAI reports. The business had revenue of $557.73 million for the quarter, compared to analyst estimates of $520.40 million. Distribution Solutions Group had a net margin of 0.27% and a return on equity of 8.49%.

Distribution Solutions Group Stock Up 0.1%

Shares of NASDAQ:DSGR traded up $0.02 during trading on Thursday, hitting $34.82. 138,491 shares of the company were exchanged, compared to its average volume of 332,047. Distribution Solutions Group has a fifty-two week low of $19.02 and a fifty-two week high of $35.06. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 290.17 and a beta of 0.54. The company has a current ratio of 2.63, a quick ratio of 1.39 and a debt-to-equity ratio of 1.07. The firm has a fifty day moving average price of $29.75 and a two-hundred day moving average price of $28.29.

Hedge Funds Weigh In On Distribution Solutions Group

Several hedge funds and other institutional investors have recently made changes to their positions in DSGR. BNP Paribas Financial Markets increased its holdings in Distribution Solutions Group by 53.5% during 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 during the last quarter. Quarry LP acquired a new stake in Distribution Solutions Group in the third quarter valued at $42,000. Millennium Management LLC bought a new position in shares of Distribution Solutions Group in the 3rd quarter valued at about $245,000. PharVision Advisers LLC acquired a new position in shares of Distribution Solutions Group during the 3rd quarter worth about $250,000. Finally, Amundi acquired a new position in shares of Distribution Solutions Group during the 4th quarter worth about $250,000. 91.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DSGR has been the subject of a number of research reports. Weiss Ratings upgraded Distribution Solutions Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Zacks Research upgraded 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 objective on Distribution Solutions Group in a research report on Thursday, July 16th. Finally, Barrington Research set a $35.00 price objective on Distribution Solutions Group and gave the stock a “market perform” rating in a research report on Friday, July 17th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Distribution Solutions Group has an average rating of “Hold” and an average target price of $35.00.

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.