ScanSource (NASDAQ:SCSC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “ScanSource, Inc. serves North America as a value-added distributor of specialty technologies, including automatic identification and point-of-sale products, and business telephone products. Serving only the value added reseller, ScanSource is committed to growing specialty technology markets by strengthening and enlarging the value added reseller channel. ScanSource’s commitment to value added resellers includes offering a broad product selection, competitive pricing, fast delivery, technical support, sales training, customer financing and qualified leads. “

A number of other brokerages have also issued reports on SCSC. TheStreet lowered ScanSource from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. ValuEngine cut shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Northcoast Research cut ScanSource from a “buy” rating to a “neutral” rating in a research note on Monday, October 2nd. Finally, BidaskClub cut ScanSource from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $45.75.

Shares of ScanSource (SCSC) opened at $36.00 on Wednesday. ScanSource has a one year low of $34.45 and a one year high of $45.35. The stock has a market cap of $925.32, a price-to-earnings ratio of 12.78, a P/E/G ratio of 4.06 and a beta of 1.11. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.33.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.02). The company had revenue of $924.56 million for the quarter, compared to analysts’ expectations of $966.20 million. ScanSource had a return on equity of 8.78% and a net margin of 1.65%. The firm’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. equities analysts expect that ScanSource will post 2.98 earnings per share for the current fiscal year.

In other ScanSource news, CEO Michael L. Baur sold 5,435 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $43.80, for a total value of $238,053.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Patrick Reilly sold 5,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $40.70, for a total transaction of $203,500.00. Following the completion of the transaction, the director now directly owns 16,900 shares in the company, valued at approximately $687,830. The disclosure for this sale can be found here. In the last three months, insiders sold 90,397 shares of company stock worth $3,959,574. Insiders own 2.35% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SCSC. LSV Asset Management boosted its holdings in ScanSource by 33.1% in the second quarter. LSV Asset Management now owns 849,662 shares of the industrial products company’s stock valued at $34,241,000 after purchasing an additional 211,471 shares in the last quarter. Northern Trust Corp lifted its stake in shares of ScanSource by 24.1% in the 2nd quarter. Northern Trust Corp now owns 666,664 shares of the industrial products company’s stock valued at $26,867,000 after purchasing an additional 129,636 shares in the last quarter. Nationwide Fund Advisors lifted its stake in shares of ScanSource by 432.2% in the 2nd quarter. Nationwide Fund Advisors now owns 105,341 shares of the industrial products company’s stock valued at $4,245,000 after purchasing an additional 85,549 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in shares of ScanSource by 55.1% in the 2nd quarter. Great Lakes Advisors LLC now owns 188,796 shares of the industrial products company’s stock valued at $7,608,000 after purchasing an additional 67,062 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of ScanSource in the 1st quarter valued at about $2,599,000. 94.42% of the stock is owned by hedge funds and other institutional investors.

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ScanSource Company Profile

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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