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

StockNews.com started coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research note released on Sunday morning. The firm issued a hold rating on the stock.

Separately, TheStreet lowered shares of AMCON Distributing from a b- rating to a c rating in a research report on Thursday, January 18th.

AMCON Distributing Price Performance

Shares of DIT opened at $160.00 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The company has a market cap of $100.80 million, a P/E ratio of 11.30 and a beta of 0.50. AMCON Distributing has a 1 year low of $135.70 and a 1 year high of $249.99.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC grew its stake in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 20.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,240 shares of the company’s stock after acquiring an additional 1,240 shares during the period. AMCON Distributing comprises approximately 1.5% of CM Management LLC’s holdings, making the stock its 22nd biggest position. CM Management LLC owned 1.19% of AMCON Distributing worth $1,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 11.14% of the company’s stock.

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.