ScanSource Inc. (SCSC) Trading 3.6% Higher
ScanSource Inc. (NASDAQ:SCSC)’s share price traded up 3.6% during trading on Thursday . The stock traded as high as $35.47 and last traded at $35.44, with a volume of 81,967 shares changing hands. The stock had previously closed at $34.21.
Several equities analysts recently commented on the company. Zacks Investment Research downgraded ScanSource from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Raymond James Financial Inc. dropped their target price on ScanSource from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday.
The firm has a market cap of $918.48 million and a P/E ratio of 14.63. The stock has a 50 day moving average price of $41.10 and a 200 day moving average price of $39.51.
ScanSource (NASDAQ:SCSC) last posted its earnings results on Monday, August 29th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by $0.20. The firm had revenue of $887.50 million for the quarter. The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. Analysts expect that ScanSource Inc. will post $2.89 EPS for the current fiscal year.
In related news, Director John Patrick Reilly sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $38.84, for a total transaction of $388,400.00. Following the transaction, the director now directly owns 19,000 shares in the company, valued at approximately $737,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
ScanSource, Inc is a wholesale distributor of specialty technology products. The Company and its subsidiaries provide distribution services for technology manufacturers and sells to resellers in the specialty technology markets, such as point-of-sale (POS) and barcode, physical security and three dimensional (3D) printing and communications.
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