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

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

Separately, TheStreet downgraded shares of AMCON Distributing from a “b-” rating to a “c” rating in a research note on Thursday, January 18th.

AMCON Distributing Stock Down 4.6 %

NYSEAMERICAN DIT opened at $158.16 on Friday. The company has a market cap of $99.64 million, a P/E ratio of 11.17 and a beta of 0.50. 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 has a one year low of $135.70 and a one year high of $249.99.

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

Hedge Funds Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC lifted its holdings in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 20.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,240 shares of the company’s stock after acquiring an additional 1,240 shares during the quarter. AMCON Distributing accounts for about 1.5% of CM Management LLC’s holdings, making the stock its 22nd largest position. CM Management LLC owned about 1.19% of AMCON Distributing worth $1,491,000 at the end of the most recent quarter. 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.