ScanSource (NASDAQ:SCSC) Raised to “Hold” at Zacks Research

ScanSource (NASDAQ:SCSC) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ScanSource in a research report on Monday, December 29th. Wall Street Zen downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.50.

ScanSource Trading Up 2.7%

Shares of NASDAQ SCSC opened at $38.16 on Tuesday. ScanSource has a fifty-two week low of $28.82 and a fifty-two week high of $46.25. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.96. The company has a market cap of $819.68 million, a price-to-earnings ratio of 11.71, a PEG ratio of 0.62 and a beta of 1.25. The business’s 50 day moving average price is $37.12 and its 200-day moving average price is $39.88.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, February 5th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.20). The business had revenue of $766.51 million for the quarter, compared to analysts’ expectations of $782.46 million. ScanSource had a net margin of 2.44% and a return on equity of 9.35%. ScanSource’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. On average, sell-side analysts expect that ScanSource will post 3.33 earnings per share for the current year.

Insider Buying and Selling at ScanSource

In related news, Director Charles Alexander Mathis acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average cost of $35.20 per share, for a total transaction of $211,200.00. Following the purchase, the director directly owned 24,793 shares of the company’s stock, valued at $872,713.60. This trade represents a 31.93% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael L. Baur sold 21,173 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $35.76, for a total value of $757,146.48. Following the sale, the chief executive officer directly owned 161,339 shares in the company, valued at approximately $5,769,482.64. The trade was a 11.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.18% of the company’s stock.

Institutional Trading of ScanSource

A number of institutional investors have recently modified their holdings of SCSC. Canada Pension Plan Investment Board bought a new position in shares of ScanSource during the 2nd quarter worth approximately $25,000. Royal Bank of Canada boosted its stake in ScanSource by 165.0% in the fourth 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 in the last quarter. CWM LLC grew its holdings in ScanSource by 159.6% in the third quarter. CWM LLC now owns 1,874 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 1,152 shares during the last quarter. Osaic Holdings Inc. grew its holdings in ScanSource by 400.5% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 1,670 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of ScanSource by 672.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock worth $194,000 after purchasing an additional 4,032 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

About ScanSource

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.