ScanSource (NASDAQ:SCSC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ScanSource (NASDAQ:SCSC) from a buy rating to a strong-buy rating in a report published on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Weiss Ratings restated a “hold (c+)” rating on shares of ScanSource in a research report on Wednesday, August 26th. Finally, Zacks Research upgraded ScanSource from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

ScanSource Price Performance

Shares of NASDAQ:SCSC opened at $57.09 on Friday. The company has a 50 day moving average of $53.98 and a 200 day moving average of $45.27. The stock has a market cap of $1.15 billion, a P/E ratio of 15.60, a P/E/G ratio of 0.83 and a beta of 1.28. ScanSource has a 12 month low of $33.76 and a 12 month high of $66.78. The company has a current ratio of 1.76, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11.

ScanSource (NASDAQ:SCSC) last posted 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. ScanSource had a net margin of 2.44% and a return on equity of 10.10%. The business had revenue of $953.11 million for the quarter, compared to analysts’ expectations of $814.35 million. During the same period in the prior year, the company posted $1.02 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, sell-side analysts forecast that ScanSource will post 4.56 EPS for the current fiscal year.

Institutional Investors Weigh In On ScanSource

A number of large investors have recently added to or reduced their stakes in SCSC. BlackRock Inc. purchased a new position in shares of ScanSource in the 2nd quarter worth about $200,140,000. Vanguard Group Inc. raised its holdings in shares of ScanSource by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 2,827,007 shares of the industrial products company’s stock valued at $110,423,000 after buying an additional 78,993 shares in the last quarter. California State Teachers Retirement System lifted its position in ScanSource by 4,972.0% in the 2nd quarter. California State Teachers Retirement System now owns 1,338,036 shares of the industrial products company’s stock worth $69,698,000 after buying an additional 1,311,655 shares during the last quarter. Wasatch Advisors LP lifted its position in ScanSource by 34.9% in the 3rd quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company’s stock worth $50,130,000 after buying an additional 294,624 shares during the last quarter. Finally, Pzena Investment Management LLC purchased a new stake in ScanSource in the second quarter worth approximately $57,807,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

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.