PC Connection (NASDAQ:CNXN) Downgraded by BidaskClub

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BidaskClub cut shares of PC Connection (NASDAQ:CNXN) from a hold rating to a sell rating in a research note issued to investors on Tuesday, BidAskClub reports.

Several other brokerages have also issued reports on CNXN. Zacks Investment Research lowered shares of Haynes International from a hold rating to a sell rating in a research report on Wednesday, May 8th. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $40.00.

Shares of NASDAQ:CNXN opened at $33.11 on Tuesday. PC Connection has a 52-week low of $27.04 and a 52-week high of $43.05. The stock has a fifty day moving average of $34.13. The stock has a market capitalization of $899.64 million, a price-to-earnings ratio of 13.97, a PEG ratio of 1.71 and a beta of 1.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.60 and a quick ratio of 2.07.

PC Connection (NASDAQ:CNXN) last announced its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.04. PC Connection had a net margin of 2.44% and a return on equity of 12.51%. The company had revenue of $632.92 million during the quarter, compared to analyst estimates of $647.08 million. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities analysts predict that PC Connection will post 2.5 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Northern Trust Corp lifted its stake in PC Connection by 0.3% in the fourth quarter. Northern Trust Corp now owns 701,637 shares of the company’s stock worth $20,860,000 after purchasing an additional 2,033 shares during the last quarter. Tributary Capital Management LLC raised its stake in shares of PC Connection by 0.3% during the second quarter. Tributary Capital Management LLC now owns 394,308 shares of the company’s stock valued at $13,793,000 after acquiring an additional 1,272 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of PC Connection by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 155,444 shares of the company’s stock valued at $4,621,000 after acquiring an additional 10,468 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of PC Connection by 12.4% during the first quarter. Pacific Ridge Capital Partners LLC now owns 124,610 shares of the company’s stock valued at $4,569,000 after acquiring an additional 13,732 shares during the last quarter. Finally, Martingale Asset Management L P raised its stake in shares of PC Connection by 10.5% during the first quarter. Martingale Asset Management L P now owns 122,641 shares of the company’s stock valued at $4,498,000 after acquiring an additional 11,700 shares during the last quarter. 41.28% of the stock is owned by institutional investors and hedge funds.

PC Connection Company Profile

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.

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