ScanSource (SCSC) Downgraded to Strong Sell at BidaskClub

ScanSource (NASDAQ:SCSC) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday.

A number of other brokerages have also commented on SCSC. ValuEngine raised shares of ScanSource from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research lowered shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. TheStreet lowered shares of ScanSource from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, Northcoast Research lowered shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $45.75.

Shares of ScanSource (NASDAQ:SCSC) opened at $35.25 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.08. ScanSource has a 1 year low of $34.45 and a 1 year high of $45.35. The firm has a market cap of $911.30, a PE ratio of 12.59, a P/E/G ratio of 4.00 and a beta of 1.03.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.02). ScanSource had a return on equity of 8.78% and a net margin of 1.65%. The firm had revenue of $924.56 million during the quarter, compared to analysts’ expectations of $966.20 million. During the same period last year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. equities research analysts predict that ScanSource will post 2.98 earnings per share for the current fiscal year.

In other news, Director John Patrick Reilly sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $40.70, for a total transaction of $203,500.00. Following the transaction, the director now directly owns 16,900 shares of the company’s stock, valued at $687,830. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael L. Baur sold 5,435 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $43.80, for a total transaction of $238,053.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,397 shares of company stock worth $3,959,574. Corporate insiders own 2.35% of the company’s stock.

A number of hedge funds have recently modified their holdings of SCSC. Teachers Advisors LLC increased its holdings in ScanSource by 2.4% during the first quarter. Teachers Advisors LLC now owns 58,605 shares of the industrial products company’s stock valued at $2,300,000 after buying an additional 1,368 shares during the period. Renaissance Technologies LLC purchased a new position in ScanSource during the first quarter valued at approximately $2,599,000. Credit Suisse AG increased its holdings in ScanSource by 23.8% during the first quarter. Credit Suisse AG now owns 43,470 shares of the industrial products company’s stock valued at $1,707,000 after buying an additional 8,356 shares during the period. Aperio Group LLC increased its holdings in ScanSource by 15.0% during the second quarter. Aperio Group LLC now owns 9,594 shares of the industrial products company’s stock valued at $387,000 after buying an additional 1,251 shares during the period. Finally, Strs Ohio increased its holdings in ScanSource by 1.9% during the second quarter. Strs Ohio now owns 21,800 shares of the industrial products company’s stock valued at $878,000 after buying an additional 400 shares during the period. 94.42% of the stock is currently owned by institutional investors.

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About ScanSource

ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.

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