PC Connection (NASDAQ:CNXN) Upgraded to “Hold” by BidaskClub

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PC Connection (NASDAQ:CNXN) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

Several other research analysts have also recently issued reports on CNXN. Zacks Investment Research cut PC Connection from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine cut PC Connection from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Sidoti cut PC Connection from a “buy” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research note on Friday, February 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $40.00.

Shares of NASDAQ:CNXN opened at $33.06 on Tuesday. PC Connection has a 52-week low of $27.04 and a 52-week high of $43.05. The stock has a market capitalization of $869.33 million, a PE ratio of 13.95, a PEG ratio of 1.65 and a beta of 1.14. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.60 and a quick ratio of 2.07.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.04. PC Connection had a return on equity of 12.51% and a net margin of 2.44%. The firm had revenue of $632.92 million during the quarter, compared to analysts’ expectations of $647.08 million. During the same period last year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities analysts predict that PC Connection will post 2.5 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System acquired a new stake in PC Connection during the first quarter worth about $37,000. Quantamental Technologies LLC acquired a new stake in PC Connection during the fourth quarter worth about $39,000. Assetmark Inc. acquired a new stake in PC Connection during the first quarter worth about $65,000. Great West Life Assurance Co. Can acquired a new stake in PC Connection during the fourth quarter worth about $58,000. Finally, Legal & General Group Plc grew its holdings in PC Connection by 23.6% during the fourth quarter. Legal & General Group Plc now owns 2,255 shares of the company’s stock worth $67,000 after acquiring an additional 431 shares during the period. 41.16% of the stock is currently owned by hedge funds and other institutional investors.

PC Connection Company Profile

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.

See Also: Risk Tolerance

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