Shares of ScanSource, Inc. (NASDAQ:SCSC) have received an average rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $47.00.
Several equities research analysts recently commented on the company. TheStreet downgraded ScanSource from a “b-” rating to a “c+” rating in a report on Friday. BidaskClub upgraded ScanSource from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Zacks Investment Research downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. ValuEngine downgraded ScanSource from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Finally, Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, May 6th.
NASDAQ SCSC opened at $31.43 on Tuesday. The stock has a market capitalization of $793.68 million, a PE ratio of 10.11 and a beta of 0.72. ScanSource has a 1-year low of $30.04 and a 1-year high of $44.30. The company has a current ratio of 2.06, a quick ratio of 0.99 and a debt-to-equity ratio of 0.38.
ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, May 9th. The industrial products company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.01). The firm had revenue of $893.40 million during the quarter, compared to analyst estimates of $931.63 million. ScanSource had a net margin of 1.44% and a return on equity of 9.90%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. Sell-side analysts expect that ScanSource will post 3.48 EPS for the current fiscal year.
In other ScanSource news, Director Michael J. Grainger acquired 4,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average cost of $30.69 per share, for a total transaction of $122,760.00. Following the acquisition, the director now directly owns 18,100 shares of the company’s stock, valued at $555,489. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael L. Baur sold 10,604 shares of ScanSource stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $37.38, for a total value of $396,377.52. Following the sale, the chief executive officer now owns 47,678 shares in the company, valued at $1,782,203.64. The disclosure for this sale can be found here. 2.56% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of SCSC. Investors Research Corp purchased a new stake in ScanSource during the 1st quarter worth approximately $25,000. Resources Investment Advisors Inc. purchased a new stake in ScanSource during the 1st quarter worth approximately $36,000. PNC Financial Services Group Inc. increased its holdings in ScanSource by 32.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,270 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 313 shares during the last quarter. One Wealth Advisors LLC purchased a new stake in ScanSource during the 1st quarter worth approximately $44,000. Finally, Quantamental Technologies LLC acquired a new position in shares of ScanSource in the 4th quarter worth approximately $45,000. Institutional investors own 97.82% of the company’s stock.
ScanSource Company Profile
ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).
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