ScanSource (NASDAQ:SCSC) Reaches New 12-Month High – Should You Buy?

ScanSource, Inc. (NASDAQ:SCSC)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $48.73 and last traded at $48.8350, with a volume of 2125 shares. The stock had previously closed at $48.15.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Wall Street Zen upgraded ScanSource from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Zacks Research upgraded ScanSource from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $43.00.

ScanSource Stock Performance

The stock has a market cap of $979.36 million, a price-to-earnings ratio of 14.58, a PEG ratio of 0.80 and a beta of 1.30. The stock’s fifty day moving average is $41.53 and its 200-day moving average is $39.97. The company has a quick ratio of 1.20, a current ratio of 1.86 and a debt-to-equity ratio of 0.11.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, May 7th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The firm had revenue of $758.59 million during the quarter, compared to analysts’ expectations of $738.55 million. ScanSource had a net margin of 2.38% and a return on equity of 9.35%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. On average, analysts forecast that ScanSource, Inc. will post 3.9 EPS for the current year.

Insider Transactions at ScanSource

In related news, CEO Michael L. Baur sold 21,173 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $35.76, for a total transaction of $757,146.48. Following the completion of the transaction, the chief executive officer owned 161,339 shares in the company, valued at approximately $5,769,482.64. The trade was a 11.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board bought a new stake in ScanSource during the second quarter worth $25,000. Royal Bank of Canada raised its stake in ScanSource by 165.0% in the 4th quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 1,168 shares during the period. Osaic Holdings Inc. raised its stake in ScanSource by 400.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock valued at $87,000 after acquiring an additional 1,670 shares during the period. Tower Research Capital LLC TRC raised its stake in ScanSource by 672.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock valued at $194,000 after acquiring an additional 4,032 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in ScanSource by 12.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,233 shares of the industrial products company’s stock valued at $204,000 after acquiring an additional 590 shares during the period. Institutional investors own 97.91% of the company’s stock.

ScanSource Company Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.