Barrington Research Reaffirms “Outperform” Rating for Distribution Solutions Group (NASDAQ:DSGR)

Distribution Solutions Group (NASDAQ:DSGR)‘s stock had its “outperform” rating restated by equities researchers at Barrington Research in a research report issued on Monday,Benzinga reports. They currently have a $41.00 price target on the stock. Barrington Research’s target price indicates a potential upside of 37.12% from the stock’s current price.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Distribution Solutions Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $41.00.

Distribution Solutions Group Price Performance

DSGR opened at $29.90 on Monday. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -129.99 and a beta of 0.51. The firm has a 50-day moving average price of $29.47 and a 200-day moving average price of $29.40. Distribution Solutions Group has a twelve month low of $21.87 and a twelve month high of $33.80. The company has a quick ratio of 1.38, a current ratio of 2.50 and a debt-to-equity ratio of 1.02.

Distribution Solutions Group declared that its Board of Directors has authorized a stock repurchase plan on Monday, November 17th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted 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 purchasing an additional 408 shares during the last quarter. Quarry LP bought a new position in shares of Distribution Solutions Group in the 3rd quarter worth approximately $42,000. Covestor Ltd boosted its stake in shares of Distribution Solutions Group by 27.3% during the 3rd quarter. Covestor Ltd now owns 2,232 shares of the company’s stock worth $67,000 after acquiring an additional 478 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Distribution Solutions Group during the third quarter valued at about $80,000. Finally, Tudor Investment Corp ET AL purchased a new stake in Distribution Solutions Group in the 3rd quarter worth approximately $226,000. 91.64% of the stock is owned by institutional investors.

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.