ScanSource (NASDAQ:SCSC) Stock Rating Lowered by ValuEngine

ValuEngine cut shares of ScanSource (NASDAQ:SCSC) from a hold rating to a sell rating in a research report sent to investors on Thursday, ValuEngine reports.

A number of other equities research analysts have also recently weighed in on SCSC. BidaskClub upgraded shares of ScanSource from a strong sell rating to a sell rating in a research report on Tuesday, March 24th. TheStreet cut shares of ScanSource from a b- rating to a c+ rating in a research report on Tuesday, February 11th. Finally, Zacks Investment Research cut shares of ScanSource from a hold rating to a strong sell rating in a research report on Saturday, February 8th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $37.00.

SCSC stock traded up $1.92 during trading on Thursday, reaching $21.98. 216,139 shares of the stock were exchanged, compared to its average volume of 145,762. The company has a current ratio of 1.85, a quick ratio of 0.96 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $24.38 and a 200-day moving average price of $31.53. ScanSource has a 1 year low of $13.78 and a 1 year high of $39.14. The firm has a market capitalization of $554.02 million, a price-to-earnings ratio of 12.21 and a beta of 1.25.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.04). ScanSource had a return on equity of 8.32% and a net margin of 1.20%. The firm had revenue of $989.50 million for the quarter, compared to analysts’ expectations of $908.27 million. During the same period last year, the firm earned $0.96 earnings per share. ScanSource’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, research analysts anticipate that ScanSource will post 2.63 EPS for the current year.

In other ScanSource news, VP Matthew Dean acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $51,000.00. Following the completion of the acquisition, the vice president now owns 11,714 shares of the company’s stock, valued at approximately $199,138. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Grainger acquired 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was acquired at an average price of $31.90 per share, with a total value of $102,080.00. Following the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $797,500. The disclosure for this purchase can be found here. Insiders purchased 8,700 shares of company stock valued at $195,705 in the last 90 days. Company insiders own 3.87% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can lifted its stake in ScanSource by 12.4% in the fourth quarter. Bank of Montreal Can now owns 3,818 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 422 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its stake in ScanSource by 6.0% in the third quarter. Metropolitan Life Insurance Co NY now owns 8,225 shares of the industrial products company’s stock worth $251,000 after acquiring an additional 466 shares during the last quarter. California State Teachers Retirement System lifted its stake in ScanSource by 1.2% in the third quarter. California State Teachers Retirement System now owns 40,254 shares of the industrial products company’s stock worth $1,230,000 after acquiring an additional 480 shares during the last quarter. Swiss National Bank lifted its stake in ScanSource by 1.0% in the fourth quarter. Swiss National Bank now owns 48,300 shares of the industrial products company’s stock worth $1,785,000 after acquiring an additional 500 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in ScanSource by 6.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 10,240 shares of the industrial products company’s stock worth $378,000 after acquiring an additional 660 shares during the last quarter. Hedge funds and other institutional investors own 96.43% 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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