Distribution Solutions Group (NASDAQ:DSGR) Sees Strong Trading Volume – Still a Buy?

Distribution Solutions Group, Inc. (NASDAQ:DSGR) shares saw unusually-high trading volume on Thursday . Approximately 62,924 shares were traded during trading, an increase of 10% from the previous session’s volume of 56,997 shares.The stock last traded at $30.15 and had previously closed at $30.36.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DSGR. Barrington Research reiterated an “outperform” rating and set a $41.00 price target on shares of Distribution Solutions Group in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Distribution Solutions Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.00.

Distribution Solutions Group Price Performance

The firm has a market cap of $1.40 billion, a P/E ratio of -131.30 and a beta of 0.53. The business’s fifty day simple moving average is $27.97 and its 200-day simple moving average is $29.30. The company has a current ratio of 2.50, a quick ratio of 1.38 and a debt-to-equity ratio of 1.02.

Distribution Solutions Group (NASDAQ:DSGR) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). Distribution Solutions Group had a negative net margin of 0.57% and a positive return on equity of 10.79%. As a group, analysts forecast that Distribution Solutions Group, Inc. will post 1.28 EPS for the current fiscal year.

Distribution Solutions Group announced that its Board of Directors has initiated a share buyback plan on Monday, November 17th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Distribution Solutions Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in shares of Distribution Solutions Group by 3.8% in the first quarter. Rhumbline Advisers now owns 14,710 shares of the company’s stock worth $412,000 after buying an additional 532 shares during the period. Schwartz Investment Counsel Inc. grew its holdings in Distribution Solutions Group by 32.2% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 330,424 shares of the company’s stock worth $9,077,000 after acquiring an additional 80,532 shares during the last quarter. Catawba River Capital increased its position in shares of Distribution Solutions Group by 16.3% in the second quarter. Catawba River Capital now owns 218,689 shares of the company’s stock valued at $6,007,000 after acquiring an additional 30,685 shares during the period. AlphaQuest LLC purchased a new stake in shares of Distribution Solutions Group during the second quarter worth about $234,000. Finally, Covestor Ltd grew its stake in shares of Distribution Solutions Group by 27.3% in the third quarter. Covestor Ltd now owns 2,232 shares of the company’s stock worth $67,000 after purchasing an additional 478 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

Distribution Solutions Group Company Profile

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.