PCM Inc (NASDAQ:PCMI) has received a consensus recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $20.67.
A number of analysts recently weighed in on PCMI shares. Zacks Investment Research cut shares of PCM from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. B. Riley increased their price target on shares of PCM from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, October 25th. Finally, BidaskClub cut shares of PCM from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 7th.
A number of large investors have recently modified their holdings of PCMI. Bank of America Corp DE lifted its stake in shares of PCM by 919.3% in the 2nd quarter. Bank of America Corp DE now owns 7,798 shares of the specialty retailer’s stock worth $118,000 after acquiring an additional 7,033 shares during the period. Laurion Capital Management LP acquired a new stake in shares of PCM in the 2nd quarter worth $187,000. Tower Research Capital LLC TRC lifted its stake in shares of PCM by 551.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,781 shares of the specialty retailer’s stock worth $191,000 after acquiring an additional 8,280 shares during the period. Ibex Investors LLC acquired a new stake in shares of PCM in the 3rd quarter worth $205,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of PCM in the 3rd quarter worth $217,000. Hedge funds and other institutional investors own 54.12% of the company’s stock.
PCM (NASDAQ:PCMI) last posted its earnings results on Wednesday, October 24th. The specialty retailer reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.11. The firm had revenue of $510.58 million for the quarter, compared to the consensus estimate of $555.46 million. PCM had a net margin of 0.65% and a return on equity of 16.16%. As a group, sell-side analysts forecast that PCM will post 2.07 earnings per share for the current year.
PCM, Inc, through its subsidiaries, operates as a multi-vendor provider of technology products and solutions in the United States and the rest of Europe. The company operates through four segments: Commercial, Public Sector, Canada, and United Kingdom. It primarily sells device products, servers, storage products, network products, printers, and related accessories and devices.
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