Distribution Solutions Group (NASDAQ:DSGR) Trading Down 5.6% – Here’s What Happened

Shares of Distribution Solutions Group, Inc. (NASDAQ:DSGR) traded down 5.6% on Friday . The stock traded as low as $36.20 and last traded at $36.33. 30,952 shares changed hands during trading, a decline of 41% from the average session volume of 52,547 shares. The stock had previously closed at $38.50.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Stephens restated an “overweight” rating and issued a $42.00 price objective on shares of Distribution Solutions Group in a research report on Monday, August 5th. Barrington Research raised their price target on shares of Distribution Solutions Group from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, August 19th.

Distribution Solutions Group Stock Down 4.9 %

The company has a market cap of $1.71 billion, a price-to-earnings ratio of -85.56 and a beta of 0.97. The business has a fifty day moving average of $37.78 and a two-hundred day moving average of $34.50. The company has a current ratio of 2.50, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88.

Distribution Solutions Group (NASDAQ:DSGR) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $439.54 million for the quarter, compared to analysts’ expectations of $437.40 million. Distribution Solutions Group had a negative net margin of 1.25% and a positive return on equity of 7.42%. During the same quarter last year, the company earned $0.26 EPS. As a group, equities analysts anticipate that Distribution Solutions Group, Inc. will post 1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DSGR. Price T Rowe Associates Inc. MD increased its position in shares of Distribution Solutions Group by 4.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,417 shares of the company’s stock worth $335,000 after purchasing an additional 406 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Distribution Solutions Group by 8.6% during the first quarter. BNP Paribas Financial Markets now owns 8,500 shares of the company’s stock worth $302,000 after buying an additional 676 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Distribution Solutions Group by 11.1% during the 2nd quarter. Rhumbline Advisers now owns 13,986 shares of the company’s stock worth $420,000 after acquiring an additional 1,398 shares during the period. California State Teachers Retirement System boosted its position in shares of Distribution Solutions Group by 15.7% during the 1st quarter. California State Teachers Retirement System now owns 11,530 shares of the company’s stock valued at $409,000 after acquiring an additional 1,563 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Distribution Solutions Group in the third quarter valued at about $150,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.