ScanSource, Inc. (NASDAQ:SCSC) has been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $47.00.
A number of research firms recently weighed in on SCSC. TheStreet lowered Trinseo from a “b-” rating to a “c+” rating in a research report on Friday, May 17th. Northcoast Research lowered ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, May 6th. ValuEngine lowered Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Finally, BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 12th.
In other ScanSource news, Director Michael J. Grainger acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was purchased at an average cost of $30.69 per share, for a total transaction of $122,760.00. Following the transaction, the director now owns 18,100 shares of the company’s stock, valued at approximately $555,489. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.56% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. First Hawaiian Bank boosted its stake in ScanSource by 23.7% in the second quarter. First Hawaiian Bank now owns 16,797 shares of the industrial products company’s stock worth $547,000 after purchasing an additional 3,222 shares in the last quarter. Denali Advisors LLC increased its holdings in ScanSource by 228.1% in the second quarter. Denali Advisors LLC now owns 23,361 shares of the industrial products company’s stock valued at $761,000 after purchasing an additional 16,240 shares during the last quarter. GYL Financial Synergies LLC bought a new stake in ScanSource in the first quarter valued at about $892,000. Palouse Capital Management Inc. bought a new stake in ScanSource in the first quarter valued at about $204,000. Finally, Resources Investment Advisors Inc. bought a new stake in ScanSource in the first quarter valued at about $36,000. Institutional investors and hedge funds own 96.05% of the company’s stock.
Shares of SCSC traded down $0.17 during trading hours on Wednesday, reaching $32.05. 78,200 shares of the company’s stock traded hands, compared to its average volume of 116,957. The company has a market cap of $829.16 million, a price-to-earnings ratio of 10.31 and a beta of 0.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.06 and a quick ratio of 0.99. ScanSource has a twelve month low of $28.55 and a twelve month high of $44.30. The stock has a fifty day simple moving average of $31.48.
ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, May 9th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). ScanSource had a return on equity of 9.90% and a net margin of 1.44%. The firm had revenue of $893.40 million for the quarter, compared to analyst estimates of $931.63 million. During the same period in the previous year, the firm earned $0.68 earnings per share. ScanSource’s revenue was down .2% on a year-over-year basis. On average, research analysts forecast that ScanSource will post 3.48 earnings per share for the current fiscal year.
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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