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

Investment analysts at StockNews.com initiated coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research report issued on Friday. The firm set a “hold” rating on the stock.

Separately, TheStreet cut AMCON Distributing from a “b-” rating to a “c” rating in a research report on Thursday, January 18th.

AMCON Distributing Price Performance

AMCON Distributing stock opened at $157.90 on Friday. AMCON Distributing has a one year low of $135.70 and a one year high of $249.99. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.02 and a current ratio of 2.50. The firm has a market cap of $99.48 million, a price-to-earnings ratio of 11.15 and a beta of 0.55.

AMCON Distributing (NYSEAMERICAN:DIT) last posted its earnings results on Thursday, April 18th. The company reported $0.89 earnings per share for the quarter. AMCON Distributing had a return on equity of 8.11% and a net margin of 0.32%. The firm had revenue of $601.88 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 increased its position in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 20.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,240 shares of the company’s stock after acquiring an additional 1,240 shares during the quarter. AMCON Distributing comprises about 1.5% of CM Management LLC’s investment portfolio, making the stock its 22nd largest position. CM Management LLC owned approximately 1.19% of AMCON Distributing worth $1,491,000 at the end of the most recent reporting period. 11.14% of the stock is owned by institutional investors and hedge funds.

About AMCON Distributing

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.