JB Capital Partners LP Takes Position in ScanSource, Inc. $SCSC

JB Capital Partners LP purchased a new stake in ScanSource, Inc. (NASDAQ:SCSC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,000 shares of the industrial products company’s stock, valued at approximately $1,041,800. JB Capital Partners LP owned approximately 0.10% of ScanSource as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of ScanSource in the second quarter valued at approximately $200,140,000. Vanguard Group Inc. boosted its stake in shares of ScanSource by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 2,827,007 shares of the industrial products company’s stock valued at $110,423,000 after purchasing an additional 78,993 shares during the period. Wasatch Advisors LP grew its stake in shares of ScanSource by 34.9% during the third quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company’s stock worth $50,130,000 after acquiring an additional 294,624 shares during the last quarter. Pzena Investment Management LLC purchased a new position in ScanSource during the second quarter worth approximately $57,807,000. Finally, LSV Asset Management grew its holdings in shares of ScanSource by 40.6% in the fourth quarter. LSV Asset Management now owns 847,863 shares of the industrial products company’s stock valued at $33,118,000 after purchasing an additional 244,903 shares during the period. Institutional investors own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

SCSC has been the subject of several research reports. Zacks Research upgraded ScanSource from a “hold” rating to a “strong-buy” rating in a research report on Monday. Wall Street Zen upgraded ScanSource from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ScanSource in a report on Wednesday. Finally, Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.00.

ScanSource Price Performance

Shares of ScanSource stock traded down $1.11 during mid-day trading on Friday, reaching $56.99. 79,146 shares of the stock traded hands, compared to its average volume of 234,300. ScanSource, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $66.78. The stock has a market capitalization of $1.15 billion, a PE ratio of 15.57, a PEG ratio of 0.82 and a beta of 1.28. The business has a 50-day moving average of $53.69 and a 200 day moving average of $44.99. The company has a quick ratio of 1.15, a current ratio of 1.76 and a debt-to-equity ratio of 0.11.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, August 20th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.32. The company had revenue of $953.11 million for the quarter, compared to analysts’ expectations of $814.35 million. ScanSource had a return on equity of 10.10% and a net margin of 2.44%.The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 EPS. On average, analysts predict that ScanSource, Inc. will post 4.56 EPS for the current year.

About ScanSource

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.