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.
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.
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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