StockNews.com Begins Coverage on AMCON Distributing (NYSEAMERICAN:DIT)

Stock analysts at StockNews.com initiated coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the stock.

AMCON Distributing Stock Up 4.2 %

DIT opened at $141.99 on Monday. AMCON Distributing has a twelve month low of $134.00 and a twelve month high of $249.99. The firm has a market cap of $89.45 million, a P/E ratio of 10.03 and a beta of 0.55. The company has a quick ratio of 1.02, a current ratio of 2.50 and a debt-to-equity ratio of 1.07.

AMCON Distributing (NYSEAMERICAN:DIT) last announced its earnings results on Thursday, April 18th. The company reported $0.89 earnings per share for the quarter. AMCON Distributing had a return on equity of 8.11% and a net margin of 0.32%. The company had revenue of $601.88 million during the quarter.

Institutional Trading of AMCON Distributing

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC increased its position in AMCON Distributing (NYSEAMERICAN:DIT) by 20.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,240 shares of the company’s stock after purchasing an additional 1,240 shares during the period. AMCON Distributing accounts for about 1.5% of CM Management LLC’s investment portfolio, making the stock its 22nd biggest holding. CM Management LLC owned about 1.19% of AMCON Distributing worth $1,491,000 at the end of the most recent reporting period. 11.14% of the stock is currently owned by hedge funds and other institutional investors.

AMCON Distributing Company Profile

AMCON Distributing Company, together with its subsidiaries, engages in the wholesale distribution of consumer products in the Central, Rocky Mountain, and Mid-South regions of the United States. It operates through Wholesale Distribution and Retail Health Food segments. The Wholesale Distribution segment distributes consumer products, including cigarettes and tobacco products, candy and other confectionery, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products, and institutional foodservice products.