Shares of ScanSource, Inc. (NASDAQ:SCSC) have earned an average broker rating score of 0.00 () from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company.
Brokerages have set a 1-year consensus price target of $44.00 for the company and are expecting that the company will post $0.66 EPS for the current quarter, according to Zacks. Zacks has also given ScanSource an industry rank of 156 out of 265 based on the ratings given to its competitors.
Several research analysts recently issued reports on SCSC shares. TheStreet upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a research report on Wednesday, December 21st. FinTrust Advisors lowered shares of ScanSource from a “buy” rating to a “hold” rating and upped their target price for the stock from $42.20 to $48.50 in a research report on Monday, February 20th. Finally, Zacks Investment Research lowered shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th.
ScanSource (NASDAQ:SCSC) opened at 39.90 on Tuesday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 15.92 and a beta of 1.18. ScanSource has a 52-week low of $29.05 and a 52-week high of $44.95. The stock has a 50 day moving average price of $41.27 and a 200 day moving average price of $38.38.
ScanSource (NASDAQ:SCSC) last announced its earnings results on Tuesday, February 7th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. ScanSource had a net margin of 1.85% and a return on equity of 8.56%. The company earned $904.80 million during the quarter, compared to analyst estimates of $962.57 million. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. Equities research analysts forecast that ScanSource will post $2.84 earnings per share for the current year.
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In related news, CEO Michael L. Baur sold 50,000 shares of the company’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $40.21, for a total value of $2,010,500.00. Following the completion of the transaction, the chief executive officer now directly owns 51,572 shares in the company, valued at $2,073,710.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Grainger sold 2,900 shares of the company’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $43.15, for a total transaction of $125,135.00. Following the completion of the transaction, the director now owns 10,400 shares of the company’s stock, valued at $448,760. The disclosure for this sale can be found here. 3.03% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SCSC. Envestnet Asset Management Inc. raised its position in shares of ScanSource by 33.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,856 shares of the company’s stock valued at $156,000 after buying an additional 973 shares during the period. Pacad Investment Ltd. bought a new position in shares of ScanSource during the fourth quarter valued at about $174,000. Princeton Alpha Management LP bought a new position in shares of ScanSource during the third quarter valued at about $279,000. Aperio Group LLC raised its position in shares of ScanSource by 7.4% in the third quarter. Aperio Group LLC now owns 7,819 shares of the company’s stock valued at $285,000 after buying an additional 539 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in shares of ScanSource during the second quarter valued at about $353,000. Institutional investors own 98.93% of the company’s stock.
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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