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

Posted by Faye Duncan on Aug 15th, 2024

Equities researchers at StockNews.com assumed coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT – Get Free Report) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the stock.

AMCON Distributing Trading Down 4.9 %

NYSEAMERICAN:DIT opened at $142.00 on Tuesday. The firm has a market capitalization of $89.46 million, a price-to-earnings ratio of 10.03 and a beta of 0.56. AMCON Distributing has a one year low of $119.34 and a one year high of $229.47. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.15 and a current ratio of 3.05.

AMCON Distributing (NYSEAMERICAN:DIT – Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The company reported $2.46 earnings per share (EPS) for the quarter. AMCON Distributing had a net margin of 0.23% and a return on equity of 5.65%. The firm 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. Empowered Funds LLC increased its position in shares of AMCON Distributing (NYSEAMERICAN:DIT – Free Report) by 7.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,442 shares of the company’s stock after acquiring an additional 175 shares during the period. Empowered Funds LLC owned about 0.39% of AMCON Distributing worth $449,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 11.14% of the company’s stock.

About AMCON Distributing

(Get Free Report)

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.