Zacks Investment Research Upgrades Systemax (NYSE:SYX) to “Strong-Buy”

Systemax (NYSE:SYX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday, Zacks.com reports. The firm currently has a $26.00 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 16.02% from the stock’s previous close.

According to Zacks, “Systemax Inc. is a direct marketer of brand name and private label products, including personal desktop computers, notebook computers, computer related products, and industrial products, in North America and Europe. The Company assembles its own PCs and sell them under the trademarks Systemax, Tiger and Ultra. In addition, they market and sell computers manufactured by other leading companies. The Company’s multi-faceted marketing plan features Internet, relationship marketing, and inbound catalog sales. “

Shares of SYX opened at $22.41 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. The firm has a market cap of $839.70 million, a PE ratio of 17.65 and a beta of 0.51. The company’s 50 day simple moving average is $19.91 and its 200-day simple moving average is $20.23. Systemax has a 12-month low of $14.00 and a 12-month high of $26.57.

Systemax (NYSE:SYX) last announced its earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.20. The business had revenue of $242.10 million for the quarter, compared to analyst estimates of $208.05 million. Systemax had a net margin of 5.22% and a return on equity of 30.50%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. As a group, equities research analysts forecast that Systemax will post 1.34 EPS for the current fiscal year.

In related news, insider Donna Fielding sold 1,980 shares of Systemax stock in a transaction on Friday, June 12th. The shares were sold at an average price of $20.27, for a total value of $40,134.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 67.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SYX. AJO LP purchased a new stake in shares of Systemax during the 1st quarter worth $32,000. BNP Paribas Arbitrage SA boosted its position in shares of Systemax by 76.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,966 shares of the company’s stock worth $70,000 after purchasing an additional 1,713 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Systemax by 1,666.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 5,300 shares of the company’s stock worth $94,000 after purchasing an additional 5,000 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of Systemax during the 2nd quarter worth $96,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Systemax during the 2nd quarter worth $154,000. Institutional investors own 28.88% of the company’s stock.

About Systemax

Systemax Inc operates as a direct marketer of brand name and private label industrial and business equipment and supplies in North America. It sells a range of maintenance, repair, and operation products, including storage and shelving, material handling, janitorial and maintenance products, furniture and office products, workbenches and shop desks, HVAC/R and fans, safety and security products, outdoor and grounds maintenance products, tools and instruments, and office and school supplies.

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