ScanSource (SCSC) Upgraded at ValuEngine

ValuEngine upgraded shares of ScanSource (NASDAQ:SCSC) from a sell rating to a hold rating in a research note released on Thursday.

SCSC has been the subject of a number of other research reports. BidaskClub downgraded shares of ScanSource from a hold rating to a sell rating in a research note on Tuesday, May 1st. Zacks Investment Research upgraded shares of ScanSource from a hold rating to a buy rating and set a $38.00 price objective for the company in a research report on Tuesday, February 6th. Finally, Northcoast Research upgraded shares of ScanSource from a neutral rating to a buy rating and set a $43.00 price objective for the company in a research report on Monday, March 26th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. ScanSource has a consensus rating of Hold and a consensus price target of $42.00.

Shares of ScanSource stock opened at $38.20 on Thursday. ScanSource has a 52-week low of $31.40 and a 52-week high of $45.35. The company has a quick ratio of 1.20, a current ratio of 2.09 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $976.85 million, a P/E ratio of 12.65, a PEG ratio of 4.09 and a beta of 1.02.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Tuesday, May 8th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). ScanSource had a return on equity of 9.01% and a net margin of 1.11%. The firm had revenue of $895.64 million during the quarter, compared to analysts’ expectations of $878.70 million. During the same quarter in the prior year, the firm earned $0.65 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. equities research analysts anticipate that ScanSource will post 3.11 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Thomson Horstmann & Bryant Inc. lifted its position in shares of ScanSource by 7.2% during the 1st quarter. Thomson Horstmann & Bryant Inc. now owns 21,568 shares of the industrial products company’s stock worth $766,000 after buying an additional 1,450 shares during the last quarter. First Trust Advisors LP lifted its position in shares of ScanSource by 3.7% during the 4th quarter. First Trust Advisors LP now owns 49,678 shares of the industrial products company’s stock worth $1,778,000 after buying an additional 1,784 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of ScanSource by 31.8% during the 1st quarter. Victory Capital Management Inc. now owns 8,347 shares of the industrial products company’s stock worth $297,000 after buying an additional 2,012 shares during the last quarter. Aperio Group LLC lifted its position in shares of ScanSource by 26.8% during the 1st quarter. Aperio Group LLC now owns 11,101 shares of the industrial products company’s stock worth $395,000 after buying an additional 2,347 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of ScanSource by 19.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 14,562 shares of the industrial products company’s stock worth $521,000 after buying an additional 2,356 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

About ScanSource

ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. The company's Worldwide Barcode, Networking & Security segment focuses on automatic identification and data capture (AIDC), point-of-sale (POS), networking, electronic physical security, 3D printing, and other specialty technologies.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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