ScanSource (NASDAQ:SCSC) Reaches New 1-Year High – Should You Buy?

ScanSource, Inc. (NASDAQ:SCSC) hit a new 52-week high during trading on Monday . The stock traded as high as $55.99 and last traded at $55.85, with a volume of 3476 shares. The stock had previously closed at $54.88.

Analyst Ratings Changes

SCSC has been the subject of several analyst reports. Weiss Ratings raised shares of ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Zacks Research upgraded shares of ScanSource from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Wall Street Zen downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $43.00.

ScanSource Stock Up 1.2%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.86 and a quick ratio of 1.20. The stock has a market capitalization of $1.13 billion, a PE ratio of 16.74, a PEG ratio of 0.85 and a beta of 1.28. The company has a 50 day moving average price of $49.64 and a 200-day moving average price of $42.63.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.03. The business had revenue of $758.59 million for the quarter, compared to analysts’ expectations of $738.55 million. ScanSource had a net margin of 2.38% and a return on equity of 9.35%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. As a group, analysts forecast that ScanSource, Inc. will post 3.9 earnings per share for the current fiscal year.

Institutional Trading of ScanSource

Several large investors have recently bought and sold shares of SCSC. Wasatch Advisors LP increased its position in shares of ScanSource by 34.9% during the third quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company’s stock valued at $50,130,000 after acquiring an additional 294,624 shares in the last quarter. SG Americas Securities LLC lifted its position in ScanSource by 2,835.9% in the 4th quarter. SG Americas Securities LLC now owns 283,756 shares of the industrial products company’s stock valued at $11,084,000 after acquiring an additional 274,091 shares in the last quarter. LSV Asset Management boosted its stake in ScanSource by 40.6% during the 4th quarter. LSV Asset Management now owns 847,863 shares of the industrial products company’s stock valued at $33,118,000 after purchasing an additional 244,903 shares during the last quarter. Invesco Ltd. boosted its stake in ScanSource by 56.5% during the 4th quarter. Invesco Ltd. now owns 439,442 shares of the industrial products company’s stock valued at $17,165,000 after purchasing an additional 158,722 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of ScanSource by 65.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 389,915 shares of the industrial products company’s stock worth $17,152,000 after purchasing an additional 154,518 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

ScanSource Company Profile

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.