Distribution Solutions Group (NASDAQ:DSGR) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Distribution Solutions Group (NASDAQ:DSGR) announced its quarterly earnings data on Thursday. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19, FiscalAI reports. Distribution Solutions Group had a net margin of 0.27% and a return on equity of 8.49%. The business had revenue of $557.73 million for the quarter, compared to analysts’ expectations of $520.40 million.

Distribution Solutions Group Price Performance

Shares of NASDAQ DSGR traded up $0.02 during mid-day trading on Thursday, hitting $34.82. 138,491 shares of the stock traded hands, compared to its average volume of 332,047. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.63 and a quick ratio of 1.39. Distribution Solutions Group has a twelve month low of $19.02 and a twelve month high of $35.06. The company has a market cap of $1.61 billion, a PE ratio of 290.17 and a beta of 0.54. The firm has a 50 day simple moving average of $29.75 and a two-hundred day simple moving average of $28.29.

Hedge Funds Weigh In On Distribution Solutions Group

Large investors have recently bought and sold shares of the company. Jane Street Group LLC grew its holdings in shares of Distribution Solutions Group by 214.2% during the first quarter. Jane Street Group LLC now owns 23,586 shares of the company’s stock worth $660,000 after purchasing an additional 16,080 shares during the last quarter. Nantahala Capital Management LLC acquired a new stake in Distribution Solutions Group during the 2nd quarter worth approximately $5,791,000. BNP Paribas Financial Markets boosted its position in Distribution Solutions Group by 53.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,170 shares of the company’s stock worth $32,000 after buying an additional 408 shares during the period. Monimus Capital Management LP grew its holdings in Distribution Solutions Group by 13.0% during the 2nd quarter. Monimus Capital Management LP now owns 101,009 shares of the company’s stock worth $2,775,000 after acquiring an additional 11,590 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Distribution Solutions Group by 62.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,080 shares of the company’s stock worth $454,000 after acquiring an additional 5,779 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Zacks Research raised Distribution Solutions Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Stephens set a $35.00 price target on Distribution Solutions Group in a report on Thursday, July 16th. Weiss Ratings upgraded Distribution Solutions Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 28th. Finally, Barrington Research set a $35.00 price objective on Distribution Solutions Group and gave the company a “market perform” rating in a research note on Friday, July 17th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.00.

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. 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.