ScanSource (SCSC) Raised to Hold at BidaskClub

ScanSource (NASDAQ:SCSC) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday, April 4th.

SCSC has been the subject of a number of other research reports. ValuEngine cut ScanSource from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research raised ScanSource from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, Northcoast Research raised ScanSource from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a report on Monday, March 26th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $40.50.

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Shares of SCSC traded down $0.50 during mid-day trading on Wednesday, reaching $36.35. The company had a trading volume of 67,964 shares, compared to its average volume of 116,029. ScanSource has a 52-week low of $31.40 and a 52-week high of $45.35. The company has a quick ratio of 1.26, a current ratio of 2.15 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $893.72, a price-to-earnings ratio of 13.40, a PEG ratio of 3.69 and a beta of 1.01.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $965.15 million. ScanSource had a return on equity of 9.06% and a net margin of 1.18%. ScanSource’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. equities analysts anticipate that ScanSource will post 3.16 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCSC. SG Americas Securities LLC boosted its holdings in ScanSource by 26.5% in the third quarter. SG Americas Securities LLC now owns 6,030 shares of the industrial products company’s stock valued at $263,000 after purchasing an additional 1,262 shares during the period. First Trust Advisors LP lifted its holdings in ScanSource by 3.7% during the 4th quarter. First Trust Advisors LP now owns 49,678 shares of the industrial products company’s stock worth $1,778,000 after buying an additional 1,784 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in ScanSource by 19.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 14,562 shares of the industrial products company’s stock worth $521,000 after buying an additional 2,356 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in ScanSource by 1.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 133,811 shares of the industrial products company’s stock worth $4,790,000 after buying an additional 2,360 shares during the last quarter. Finally, Jefferies Group LLC lifted its holdings in ScanSource by 50.4% during the 4th quarter. Jefferies Group LLC now owns 7,865 shares of the industrial products company’s stock worth $282,000 after buying an additional 2,634 shares during the last quarter. Institutional investors and hedge funds own 96.38% of the company’s stock.

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About ScanSource

ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. The company's Worldwide Barcode, Networking & Security segment focuses on automatic identification and data capture (AIDC), point-of-sale (POS), networking, electronic physical security, 3D printing, and other specialty technologies.

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