ScanSource Inc. (NASDAQ:SCSC) has received an average broker rating score of 2.00 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company.
Brokers have set a one year consensus price target of $43.00 for the company and are predicting that the company will post $0.65 EPS for the current quarter, according to Zacks. Zacks has also assigned ScanSource an industry rank of 163 out of 265 based on the ratings given to its competitors.
Several equities analysts recently issued reports on the stock. Raymond James Financial Inc. cut their price target on shares of ScanSource from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, August 30th. Zacks Investment Research raised shares of ScanSource from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th.
Institutional investors have recently made changes to their positions in the company. UBS Group AG increased its position in shares of ScanSource by 51.7% in the first quarter. UBS Group AG now owns 21,269 shares of the company’s stock worth $858,000 after buying an additional 7,245 shares in the last quarter. Huntington Asset Advisors Inc. bought a new position in shares of ScanSource during the first quarter worth $525,000. JPMorgan Chase & Co. increased its position in shares of ScanSource by 32.3% in the first quarter. JPMorgan Chase & Co. now owns 68,331 shares of the company’s stock worth $2,759,000 after buying an additional 16,698 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of ScanSource by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 704,109 shares of the company’s stock worth $28,432,000 after buying an additional 2,039 shares in the last quarter. Finally, BlackRock Group LTD increased its position in shares of ScanSource by 12.1% in the first quarter. BlackRock Group LTD now owns 47,542 shares of the company’s stock worth $1,920,000 after buying an additional 5,124 shares in the last quarter. 96.91% of the stock is owned by institutional investors.
Shares of ScanSource (NASDAQ:SCSC) opened at 36.50 on Monday. The stock has a market capitalization of $935.31 million, a PE ratio of 15.34 and a beta of 1.19. The stock’s 50 day moving average is $37.94 and its 200 day moving average is $39.16. ScanSource has a 52 week low of $27.46 and a 52 week high of $43.49.
ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Monday, August 29th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by $0.20. ScanSource had a net margin of 1.80% and a return on equity of 9.47%. The firm had revenue of $887.50 million for the quarter. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. Analysts anticipate that ScanSource will post $2.89 EPS for the current fiscal year.
ScanSource Company Profile
ScanSource, Inc is a wholesale distributor of specialty technology products. The Company and its subsidiaries provide distribution services for technology manufacturers and sells to resellers in the specialty technology markets, such as point-of-sale (POS) and barcode, physical security and three dimensional (3D) printing and communications.
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