Key Points
- Director Robert Zamarripa bought 14,000 shares on March 10 at an average price of $21.23, spending $297,220 and increasing his stake by 42.29% to 47,105 shares; the transaction was disclosed to the SEC.
- Shares jumped 4.3% to $21.50 in the latest session, but the company recently missed quarterly estimates (EPS $0.18 vs. $0.32 and revenue $481.6M vs. $496.3M) and trades at a high P/E (~119) with a market cap near $993M.
- The board authorized a $30 million share buyback (about 2.5% of outstanding shares), while analyst coverage is mixed with a consensus "Hold" and a $35 target price.
Distribution Solutions Group, Inc. (NASDAQ:DSGR - Get Free Report) Director Robert Zamarripa acquired 14,000 shares of Distribution Solutions Group stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average cost of $21.23 per share, with a total value of $297,220.00. Following the transaction, the director owned 47,105 shares of the company's stock, valued at approximately $1,000,039.15. The trade was a 42.29% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Distribution Solutions Group Stock Up 4.3%
Shares of Distribution Solutions Group stock traded up $0.89 during trading on Thursday, hitting $21.50. 40,073 shares of the stock traded hands, compared to its average volume of 100,899. The stock has a market cap of $993.13 million, a P/E ratio of 119.47 and a beta of 0.51. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.35 and a current ratio of 2.56. Distribution Solutions Group, Inc. has a twelve month low of $20.12 and a twelve month high of $33.80. The company has a fifty day moving average price of $28.86 and a two-hundred day moving average price of $28.98.
Distribution Solutions Group (NASDAQ:DSGR - Get Free Report) last released its quarterly earnings data on Thursday, March 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.14). The business had revenue of $481.60 million during the quarter, compared to analyst estimates of $496.30 million. Distribution Solutions Group had a net margin of 0.42% and a return on equity of 9.02%. Equities research analysts predict that Distribution Solutions Group, Inc. will post 1.28 EPS for the current fiscal year.
Distribution Solutions Group declared that its board has authorized a stock buyback plan on Monday, November 17th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.
Analyst Ratings Changes
A number of research analysts have recently commented on DSGR shares. Barrington Research lowered their price objective on Distribution Solutions Group from $41.00 to $35.00 and set an "outperform" rating on the stock in a report on Tuesday. Weiss Ratings restated a "sell (d)" rating on shares of Distribution Solutions Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $35.00.
View Our Latest Stock Report on Distribution Solutions Group
Hedge Funds Weigh In On Distribution Solutions Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Distribution Solutions Group by 53.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,170 shares of the company's stock valued at $32,000 after acquiring an additional 408 shares in the last quarter. Quarry LP acquired a new stake in shares of Distribution Solutions Group during the 3rd quarter worth approximately $42,000. Covestor Ltd grew its holdings in shares of Distribution Solutions Group by 27.3% during the 3rd quarter. Covestor Ltd now owns 2,232 shares of the company's stock worth $67,000 after purchasing an additional 478 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Distribution Solutions Group during the third quarter valued at approximately $80,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Distribution Solutions Group in the third quarter valued at $226,000. 91.64% of the stock is currently owned by institutional investors.
About Distribution Solutions Group
(
Get Free Report)
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.
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