ScanSource, Inc. (SCSC) Receives Average Recommendation of “Hold” from Analysts

Shares of ScanSource, Inc. (NASDAQ:SCSC) have been assigned an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $48.50.

A number of research analysts have recently commented on the company. BidaskClub lowered ScanSource from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. ValuEngine lowered ScanSource from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Zacks Investment Research lowered ScanSource from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Northcoast Research lowered ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, October 2nd. Finally, TheStreet cut ScanSource from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th.

In related news, CEO Michael L. Baur sold 17,621 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $44.32, for a total transaction of $780,962.72. Following the completion of the transaction, the chief executive officer now owns 35,209 shares of the company’s stock, valued at $1,560,462.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Patrick Reilly sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $40.70, for a total value of $203,500.00. Following the transaction, the director now directly owns 16,900 shares of the company’s stock, valued at approximately $687,830. The disclosure for this sale can be found here. Insiders have sold 90,397 shares of company stock valued at $3,959,574 in the last ninety days. Company insiders own 2.35% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SCSC. Victory Capital Management Inc. boosted its position in shares of ScanSource by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 446 shares during the period. SG Americas Securities LLC boosted its position in shares of ScanSource by 12.0% in the 2nd quarter. SG Americas Securities LLC now owns 4,768 shares of the industrial products company’s stock valued at $192,000 after purchasing an additional 509 shares during the period. State of Alaska Department of Revenue boosted its position in shares of ScanSource by 79.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,996 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 2,206 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of ScanSource in the 3rd quarter valued at $202,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of ScanSource in the 2nd quarter valued at $221,000. Institutional investors and hedge funds own 93.38% of the company’s stock.

ScanSource (NASDAQ:SCSC) opened at $35.75 on Tuesday. The company has a market capitalization of $902.38, a price-to-earnings ratio of 12.47, a PEG ratio of 3.96 and a beta of 1.11. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33. ScanSource has a fifty-two week low of $34.45 and a fifty-two week high of $45.35.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). The business had revenue of $924.56 million for the quarter, compared to analyst estimates of $966.20 million. ScanSource had a net margin of 1.65% and a return on equity of 8.78%. ScanSource’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the business posted $0.68 earnings per share. sell-side analysts predict that ScanSource will post 2.98 EPS for the current fiscal year.

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ScanSource Company Profile

ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.

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