Distribution Solutions Group (NASDAQ:DSGR) Hits New 52-Week High – Still a Buy?

Distribution Solutions Group, Inc. (NASDAQ:DSGR)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $39.43 and last traded at $39.34, with a volume of 50743 shares traded. The stock had previously closed at $38.37.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DSGR. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Distribution Solutions Group in a research note on Monday, August 5th. Barrington Research boosted their target price on Distribution Solutions Group from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th.

Distribution Solutions Group Trading Up 3.5 %

The stock has a market capitalization of $1.86 billion, a P/E ratio of -94.60 and a beta of 0.97. The company has a current ratio of 2.50, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. The stock’s fifty day moving average price is $36.13 and its two-hundred day moving average price is $34.03.

Distribution Solutions Group (NASDAQ:DSGR) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $439.54 million during the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.26 EPS. Equities research analysts forecast that Distribution Solutions Group, Inc. will post 1.39 EPS for the current year.

Institutional Investors Weigh In On Distribution Solutions Group

A number of hedge funds have recently made changes to their positions in DSGR. Dimensional Fund Advisors LP boosted its position in Distribution Solutions Group by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 915,208 shares of the company’s stock valued at $27,457,000 after buying an additional 14,059 shares during the period. Vanguard Group Inc. lifted its stake in Distribution Solutions Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 586,652 shares of the company’s stock worth $20,814,000 after acquiring an additional 8,745 shares during the period. Renaissance Technologies LLC lifted its stake in Distribution Solutions Group by 12.5% in the second quarter. Renaissance Technologies LLC now owns 120,400 shares of the company’s stock worth $3,612,000 after acquiring an additional 13,400 shares during the period. Bank of New York Mellon Corp lifted its stake in Distribution Solutions Group by 13.9% in the second quarter. Bank of New York Mellon Corp now owns 43,489 shares of the company’s stock worth $1,305,000 after acquiring an additional 5,309 shares during the period. Finally, Inspire Advisors LLC purchased a new stake in Distribution Solutions Group in the first quarter worth $1,134,000. 91.64% of the stock is currently 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.