ScanSource (NASDAQ:SCSC) Downgraded by Northcoast Research to Neutral

ScanSource (NASDAQ:SCSC) was downgraded by equities researchers at Northcoast Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports.

Several other equities analysts have also issued reports on SCSC. Weiss Ratings upgraded ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Wall Street Zen upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $43.00.

ScanSource Price Performance

SCSC stock opened at $53.19 on Monday. The firm has a market cap of $1.08 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.83 and a beta of 1.28. The firm’s fifty day moving average is $52.72 and its 200 day moving average is $44.18. ScanSource has a 52 week low of $33.76 and a 52 week high of $59.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.20 and a current ratio of 1.86.

Institutional Investors Weigh In On ScanSource

A number of large investors have recently modified their holdings of SCSC. BlackRock Inc. bought a new stake in shares of ScanSource during the second quarter valued at approximately $200,140,000. Pzena Investment Management LLC purchased a new position in ScanSource during the second quarter valued at $57,807,000. Wasatch Advisors LP boosted its holdings in shares of ScanSource by 34.9% during the 3rd quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company’s stock valued at $50,130,000 after buying an additional 294,624 shares in the last quarter. LSV Asset Management grew its position in shares of ScanSource by 40.6% in the 4th quarter. LSV Asset Management now owns 847,863 shares of the industrial products company’s stock worth $33,118,000 after buying an additional 244,903 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of ScanSource by 74.4% in the 1st quarter. SG Americas Securities LLC now owns 494,988 shares of the industrial products company’s stock worth $17,968,000 after acquiring an additional 211,232 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

About ScanSource

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.