Several other equities research analysts also recently issued reports on SCSC. ValuEngine downgraded shares of Yext from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, May 6th. Finally, TheStreet downgraded shares of Trinseo from a “b-” rating to a “c+” rating in a research report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $44.50.
ScanSource stock opened at $32.34 on Friday. ScanSource has a 12-month low of $28.55 and a 12-month high of $44.30. The stock has a market cap of $814.25 million, a P/E ratio of 10.40 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. The business’s fifty day moving average price is $31.33.
ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Thursday, May 9th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $931.63 million. During the same period last year, the firm earned $0.68 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis. As a group, sell-side analysts predict that ScanSource will post 3.48 earnings per share for the current year.
In related news, Director Michael J. Grainger bought 4,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was bought at an average price of $30.69 per share, with a total value of $122,760.00. Following the transaction, the director now owns 18,100 shares of the company’s stock, valued at $555,489. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 2.56% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Investors Research Corp bought a new stake in shares of ScanSource in the 1st quarter worth about $25,000. Resources Investment Advisors Inc. bought a new stake in shares of ScanSource in the 1st quarter worth about $36,000. PNC Financial Services Group Inc. increased its position in shares of ScanSource by 32.7% in 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. Palouse Capital Management Inc. bought a new stake in shares of ScanSource in the 1st quarter worth about $204,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of ScanSource by 149.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,847 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 3,499 shares during the last quarter. 95.99% of the stock is owned by institutional investors.
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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