BidaskClub Upgrades ScanSource (SCSC) to Sell

ScanSource (NASDAQ:SCSC) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Thursday.

Several other brokerages have also recently commented on SCSC. Zacks Investment Research raised ScanSource from a “sell” rating to a “hold” rating in a research report on Wednesday, November 29th. ValuEngine cut ScanSource from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. ScanSource currently has a consensus rating of “Hold” and a consensus price target of $38.00.

Shares of ScanSource stock opened at $32.70 on Thursday. The company has a market capitalization of $852.80, a price-to-earnings ratio of 11.15, a PEG ratio of 3.52 and a beta of 1.05. The company has a quick ratio of 1.26, a current ratio of 2.15 and a debt-to-equity ratio of 0.42. ScanSource has a 12-month low of $31.40 and a 12-month high of $45.35.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.10. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $965.15 million. ScanSource had a return on equity of 9.06% and a net margin of 1.18%. ScanSource’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. research analysts expect that ScanSource will post 3.16 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new stake in ScanSource during the third quarter valued at $202,000. Victory Capital Management Inc. boosted its position in ScanSource by 94.5% during the third quarter. Victory Capital Management Inc. now owns 5,785 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 2,811 shares during the last quarter. SG Americas Securities LLC boosted its position in ScanSource by 26.5% during the third quarter. SG Americas Securities LLC now owns 6,030 shares of the industrial products company’s stock valued at $263,000 after purchasing an additional 1,262 shares during the last quarter. Jefferies Group LLC boosted its position in ScanSource by 50.4% during the fourth quarter. Jefferies Group LLC now owns 7,865 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 2,634 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in ScanSource during the fourth quarter valued at $314,000. 96.38% of the stock is owned by hedge funds and other institutional investors.

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About ScanSource

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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