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

Stock analysts at StockNews.com initiated coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the stock.

AMCON Distributing Stock Performance

Shares of DIT stock opened at $132.00 on Tuesday. The company has a market cap of $83.16 million, a P/E ratio of 13.16 and a beta of 0.54. AMCON Distributing has a 12 month low of $118.25 and a 12 month high of $209.50. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.15 and a current ratio of 3.05.

Institutional Trading of AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC lifted its stake in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 7.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,442 shares of the company’s stock after acquiring an additional 175 shares during the period. Empowered Funds LLC owned approximately 0.39% of AMCON Distributing worth $449,000 as of its most recent SEC filing. Institutional investors and hedge funds own 11.14% of the company’s stock.

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.