ScanSource (NASDAQ:SCSC) PT Lowered to $36.00

ScanSource (NASDAQ:SCSC) had its target price cut by Raymond James from $44.00 to $36.00 in a report published on Wednesday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other equities analysts have also commented on SCSC. BidaskClub upgraded shares of ScanSource from a sell rating to a hold rating in a research report on Friday, July 26th. Zacks Investment Research upgraded shares of ScanSource from a sell rating to a hold rating in a research report on Tuesday. Northcoast Research lowered shares of ScanSource from a buy rating to a neutral rating in a research report on Monday, May 6th. ValuEngine lowered shares of ScanSource from a hold rating to a sell rating in a research report on Friday, May 10th. Finally, TheStreet lowered shares of ScanSource from a b- rating to a c+ rating in a research report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. ScanSource presently has an average rating of Hold and a consensus target price of $39.00.

NASDAQ:SCSC opened at $29.81 on Wednesday. The firm has a market cap of $766.18 million, a PE ratio of 8.87 and a beta of 0.95. ScanSource has a 12 month low of $28.40 and a 12 month high of $44.30. The company has a quick ratio of 0.99, a current ratio of 2.06 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $32.11 and its two-hundred day moving average price is $34.53.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Tuesday, August 20th. The industrial products company reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.12). The firm had revenue of $960.80 million during the quarter, compared to analyst estimates of $999.63 million. ScanSource had a net margin of 1.49% and a return on equity of 9.64%. ScanSource’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. On average, research analysts expect that ScanSource will post 3.67 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Mason Street Advisors LLC lifted its position in shares of ScanSource by 3.8% during the first quarter. Mason Street Advisors LLC now owns 8,254 shares of the industrial products company’s stock worth $296,000 after purchasing an additional 301 shares in the last quarter. Advisor Group Inc. lifted its position in shares of ScanSource by 74.9% during the second quarter. Advisor Group Inc. now owns 782 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 335 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its position in shares of ScanSource by 5.9% during the first quarter. Piedmont Investment Advisors Inc. now owns 6,447 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 361 shares in the last quarter. Strs Ohio lifted its position in shares of ScanSource by 2.4% during the first quarter. Strs Ohio now owns 21,200 shares of the industrial products company’s stock worth $759,000 after purchasing an additional 500 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of ScanSource by 2.6% during the first quarter. Comerica Bank now owns 25,413 shares of the industrial products company’s stock worth $977,000 after purchasing an additional 636 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

ScanSource Company Profile

ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).

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