Distribution Solutions Group (NASDAQ:DSGR) Shares Gap Up After Better-Than-Expected Earnings

Distribution Solutions Group, Inc. (NASDAQ:DSGR)’s stock price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $27.75, but opened at $29.87. Distribution Solutions Group shares last traded at $28.92, with a volume of 15,937 shares.

The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. Distribution Solutions Group had a return on equity of 8.89% and a net margin of 0.13%.

Analysts Set New Price Targets

Separately, Barrington Research upped their price objective on Distribution Solutions Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th.

Hedge Funds Weigh In On Distribution Solutions Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DSGR. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Distribution Solutions Group by 13.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,536 shares of the company’s stock worth $829,000 after acquiring an additional 2,569 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Distribution Solutions Group in the third quarter valued at about $251,000. BNP Paribas Financial Markets lifted its position in Distribution Solutions Group by 21.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,014 shares of the company’s stock worth $193,000 after buying an additional 891 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Distribution Solutions Group during the 3rd quarter worth about $87,000. Finally, Barclays PLC grew its holdings in Distribution Solutions Group by 342.0% during the 3rd quarter. Barclays PLC now owns 17,007 shares of the company’s stock worth $654,000 after acquiring an additional 13,159 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Distribution Solutions Group Stock Up 4.1 %

The firm’s 50-day simple moving average is $32.21 and its two-hundred day simple moving average is $35.91. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 742.54 and a beta of 0.95. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.55 and a current ratio of 2.81.

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.