PCM (PCMI) Sets New 1-Year High at $34.59

Shares of PCM Inc (NASDAQ:PCMI) hit a new 52-week high during trading on Tuesday . The stock traded as high as $34.59 and last traded at $30.25, with a volume of 19270 shares changing hands. The stock had previously closed at $33.75.

Several analysts have recently commented on the company. Zacks Investment Research upgraded PCM from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Wednesday, February 13th. BidaskClub upgraded PCM from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 12th. TheStreet upgraded PCM from a “c” rating to a “b-” rating in a report on Wednesday, February 6th. Roth Capital increased their price objective on PCM from $24.20 to $29.60 and gave the company a “buy” rating in a report on Thursday, February 7th. Finally, ValuEngine upgraded PCM from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. PCM has an average rating of “Buy” and a consensus price target of $30.20.

The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 0.21. The firm has a market cap of $410.10 million, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 0.65 and a beta of 0.99.

PCM (NASDAQ:PCMI) last released its earnings results on Wednesday, February 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.09. PCM had a return on equity of 19.25% and a net margin of 1.05%. The firm had revenue of $564.12 million for the quarter, compared to the consensus estimate of $511.56 million. As a group, analysts expect that PCM Inc will post 2.4 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCMI. Bank of America Corp DE increased its position in shares of PCM by 919.3% in the 2nd quarter. Bank of America Corp DE now owns 7,798 shares of the specialty retailer’s stock valued at $118,000 after acquiring an additional 7,033 shares during the period. Millennium Management LLC increased its position in shares of PCM by 322.5% in the 2nd quarter. Millennium Management LLC now owns 87,190 shares of the specialty retailer’s stock valued at $1,321,000 after acquiring an additional 66,553 shares during the period. First Trust Advisors LP acquired a new position in shares of PCM in the 3rd quarter valued at $252,000. Acadian Asset Management LLC increased its position in shares of PCM by 189.2% in the 3rd quarter. Acadian Asset Management LLC now owns 118,932 shares of the specialty retailer’s stock valued at $2,326,000 after acquiring an additional 77,803 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in shares of PCM in the 3rd quarter valued at $287,000. 55.07% of the stock is currently owned by hedge funds and other institutional investors.

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PCM Company Profile (NASDAQ:PCMI)

PCM, Inc, through its subsidiaries, operates as a multi-vendor provider of technology products and solutions in the United States and the rest of Europe. The company operates through four segments: Commercial, Public Sector, Canada, and United Kingdom. It primarily sells device products, servers, storage products, network products, printers, and related accessories and devices.

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