Shares of ScanSource, Inc. (NASDAQ:SCSC) have received an average recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $48.50.
A number of equities research analysts have weighed in on the stock. BidaskClub downgraded shares of ScanSource from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 7th. Zacks Investment Research upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. TheStreet downgraded shares of ScanSource from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. ValuEngine downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a research note on Monday, October 2nd.
In other news, CEO Michael L. Baur sold 44,565 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $44.16, for a total value of $1,967,990.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John Patrick Reilly sold 5,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 16,900 shares in the company, valued at approximately $687,830. The disclosure for this sale can be found here. Insiders sold a total of 90,397 shares of company stock worth $3,959,574 in the last 90 days. 2.35% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of ScanSource by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,326,600 shares of the industrial products company’s stock valued at $93,763,000 after purchasing an additional 26,629 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of ScanSource by 3.3% in the 3rd quarter. Pzena Investment Management LLC now owns 1,317,928 shares of the industrial products company’s stock valued at $57,528,000 after purchasing an additional 42,025 shares in the last quarter. LSV Asset Management raised its holdings in shares of ScanSource by 33.1% in the second quarter. LSV Asset Management now owns 849,662 shares of the industrial products company’s stock valued at $34,241,000 after buying an additional 211,471 shares during the last quarter. State Street Corp raised its holdings in shares of ScanSource by 3.6% in the second quarter. State Street Corp now owns 674,361 shares of the industrial products company’s stock valued at $27,177,000 after buying an additional 23,694 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of ScanSource by 24.1% in the second quarter. Northern Trust Corp now owns 666,664 shares of the industrial products company’s stock valued at $26,867,000 after buying an additional 129,636 shares during the last quarter. Institutional investors own 94.42% of the company’s stock.
Shares of ScanSource (NASDAQ:SCSC) opened at $35.10 on Friday. ScanSource has a 52 week low of $33.55 and a 52 week high of $45.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.08 and a current ratio of 1.94. The firm has a market cap of $870.52, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 3.82 and a beta of 1.03.
ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results 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 business had revenue of $924.56 million for the quarter, compared to analyst estimates of $966.20 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. equities analysts forecast that ScanSource will post 2.98 EPS for the current fiscal year.
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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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