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

StockNews.com assumed coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research note issued on Sunday. The brokerage set a “hold” rating on the stock.

AMCON Distributing Stock Down 2.8 %

Shares of NYSEAMERICAN DIT opened at $136.10 on Friday. AMCON Distributing has a 12-month low of $119.34 and a 12-month high of $209.50. The stock has a market cap of $85.74 million, a P/E ratio of 9.61 and a beta of 0.51. The company has a debt-to-equity ratio of 1.59, a current ratio of 3.05 and a quick ratio of 1.15.

AMCON Distributing (NYSEAMERICAN:DIT) last posted its quarterly earnings results on Thursday, July 18th. The company reported $2.46 earnings per share (EPS) for the quarter. AMCON Distributing had a return on equity of 5.65% and a net margin of 0.23%. The business had revenue of $717.85 million during the quarter.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC raised its holdings in AMCON Distributing (NYSEAMERICAN:DIT) by 2.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,200 shares of the company’s stock after purchasing an additional 200 shares during the quarter. CM Management LLC owned 1.30% of AMCON Distributing worth $1,152,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.