Distribution Solutions Group (NASDAQ:DSGR) Sees Strong Trading Volume – Here’s Why

Shares of Distribution Solutions Group, Inc. (NASDAQ:DSGR) saw unusually-high trading volume on Friday. Approximately 122,742 shares changed hands during mid-day trading, a decline of 22% from the previous session’s volume of 156,719 shares. The stock last traded at $35.0650 and had previously closed at $35.07.

Analyst Ratings Changes

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

Distribution Solutions Group Price Performance

The firm has a 50-day simple moving average of $34.89 and a 200-day simple moving average of $31.07. 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 firm has a market cap of $1.62 billion, a P/E ratio of 184.50 and a beta of 0.53.

Distribution Solutions Group (NASDAQ:DSGR) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.25. The company had revenue of $557.73 million during the quarter, compared to analysts’ expectations of $520.75 million. Distribution Solutions Group had a return on equity of 9.33% and a net margin of 0.44%. As a group, analysts forecast that Distribution Solutions Group, Inc. will post 1.35 EPS for the current year.

Institutional Trading of Distribution Solutions Group

Several large investors have recently added to or reduced their stakes in DSGR. Dimensional Fund Advisors LP raised its holdings in shares of Distribution Solutions Group by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 937,151 shares of the company’s stock worth $24,590,000 after purchasing an additional 26,595 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Distribution Solutions Group in the second quarter worth approximately $18,750,000. Nantahala Capital Management LLC purchased a new stake in shares of Distribution Solutions Group during the second quarter worth $13,526,790. Gamco Investors INC. ET AL boosted its stake in Distribution Solutions Group by 9.4% during the first quarter. Gamco Investors INC. ET AL now owns 279,945 shares of the company’s stock worth $7,346,000 after buying an additional 24,141 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Distribution Solutions Group by 15.8% during the first quarter. First Trust Advisors LP now owns 180,152 shares of the company’s stock worth $4,727,000 after purchasing an additional 24,633 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

About Distribution Solutions Group

Distribution Solutions Group, Inc (NASDAQ:DSGR) is a specialty distribution company that supplies maintenance, repair, operating and production-related products to industrial and commercial customers. Its offerings include fasteners, cutting tools, safety products, electrical and electronic components, automation supplies, and other products used to maintain facilities and manufacturing operations.

The company serves customers through several specialized distribution businesses, including Lawson Products, Gexpro Services, and TestEquity.