PCM, Inc. (NASDAQ:PCMI) Given Consensus Rating of “Buy” by Brokerages
Shares of PCM, Inc. (NASDAQ:PCMI) have received a consensus rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $28.23.
PCMI has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of PCM from a “hold” rating to a “buy” rating in a research note on Saturday, July 15th. B. Riley restated a “buy” rating and set a $32.00 target price on shares of PCM in a research report on Wednesday, April 26th. Zacks Investment Research upgraded shares of PCM from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, May 2nd. ValuEngine lowered shares of PCM from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Roth Capital set a $34.00 target price on shares of PCM and gave the stock a “buy” rating in a research report on Friday, April 28th.
Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of PCM during the first quarter valued at $149,000. Bank of Montreal Can raised its position in shares of PCM by 67.5% in the second quarter. Bank of Montreal Can now owns 11,076 shares of the specialty retailer’s stock valued at $208,000 after buying an additional 4,464 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in shares of PCM during the first quarter valued at $210,000. Trexquant Investment LP bought a new position in shares of PCM during the first quarter valued at $217,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of PCM during the second quarter valued at $277,000. Institutional investors own 59.30% of the company’s stock.
Shares of PCM (PCMI) opened at 12.60 on Friday. PCM has a 52-week low of $11.80 and a 52-week high of $31.20. The stock’s 50 day moving average price is $17.24 and its 200-day moving average price is $22.43. The firm has a market capitalization of $158.68 million, a PE ratio of 10.09 and a beta of 0.87.
PCM (NASDAQ:PCMI) last issued its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by $0.02. PCM had a return on equity of 17.70% and a net margin of 0.73%. The firm had revenue of $560.11 million for the quarter, compared to analyst estimates of $595.74 million. During the same quarter last year, the firm earned $0.68 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that PCM will post $2.00 EPS for the current fiscal year.
PCM declared that its Board of Directors has authorized a stock repurchase program on Wednesday, August 9th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to repurchase up to 6.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
PCM, Inc is a multi-vendor provider of technology solutions, including hardware products, software and services, offered through its dedicated sales force, field and internal service teams, direct marketing channels, and owned and operated data centers. The Company’s segments include Commercial, Public Sector and Canada.
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