Sidoti Upgrades Systemax (SYX) to “Buy”

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Systemax (NYSE:SYX) was upgraded by analysts at Sidoti from a “neutral” rating to a “buy” rating in a report released on Wednesday, The Fly reports. The analysts noted that the move was a valuation call.

NYSE:SYX opened at $35.98 on Wednesday. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 24.18 and a beta of 0.40. Systemax has a fifty-two week low of $23.20 and a fifty-two week high of $47.75.

Systemax (NYSE:SYX) last released its quarterly earnings data on Tuesday, July 31st. The company reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. The business had revenue of $363.10 million during the quarter. Systemax had a net margin of 5.69% and a return on equity of 26.57%.

In other news, VP Thomas Axmacher sold 5,004 shares of Systemax stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $39.07, for a total value of $195,506.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 69.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in SYX. Wells Fargo & Company MN grew its stake in shares of Systemax by 64.6% in the fourth quarter. Wells Fargo & Company MN now owns 20,606 shares of the company’s stock worth $687,000 after acquiring an additional 8,086 shares during the period. Deutsche Bank AG grew its stake in shares of Systemax by 64.3% in the fourth quarter. Deutsche Bank AG now owns 25,545 shares of the company’s stock worth $848,000 after acquiring an additional 10,000 shares during the period. MetLife Investment Advisors LLC bought a new stake in shares of Systemax in the fourth quarter worth approximately $198,000. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Systemax in the first quarter worth approximately $228,000. Finally, Trexquant Investment LP bought a new stake in shares of Systemax in the first quarter worth approximately $332,000. Hedge funds and other institutional investors own 29.06% of the company’s stock.

About Systemax

Systemax Inc operates as a direct marketer of brand name and private label products. Its Industrial Products Group segment sells a range of maintenance, repair, and operation products, including storage and shelving, material handling, janitorial and maintenance, furniture and office, HVAC/R and fans, workbench and shop desks, safety and security, outdoor and grounds maintenance, tools and instruments, office and school supplies, plumbing and pumps, packaging and supplies, electrical and lighting, food service and appliances, raw materials and building supplies, motors and power transmission, pneumatics and hydraulics, medical and laboratory equipment, metalworking and cutting tools, vehicle maintenance, and fasteners and hardware in North America.

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