Systemax (NYSE:SYX) Lowered to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of Systemax (NYSE:SYX) from a strong-buy rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

According to Zacks, “Systemax Inc. is a direct marketer of brand name and private label products, including personal desktop computers, notebook computers, computer related products, and industrial products, in North America and Europe. The Company assembles its own PCs and sell them under the trademarks Systemax, Tiger and Ultra. In addition, they market and sell computers manufactured by other leading companies. The Company’s multi-faceted marketing plan features Internet, relationship marketing, and inbound catalog sales. “

Shares of SYX stock opened at $20.46 on Tuesday. The stock has a 50-day simple moving average of $20.03 and a 200 day simple moving average of $21.09. The stock has a market capitalization of $766.64 million, a P/E ratio of 16.77 and a beta of 0.51. Systemax has a fifty-two week low of $14.00 and a fifty-two week high of $26.57. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 0.41.

Systemax (NYSE:SYX) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). Systemax had a return on equity of 31.30% and a net margin of 4.99%. The business had revenue of $227.30 million during the quarter, compared to the consensus estimate of $234.59 million. During the same quarter last year, the firm posted $0.29 earnings per share. Systemax’s revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Systemax will post 1.1 earnings per share for the current year.

In related news, insider Donna Fielding sold 1,980 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $20.27, for a total transaction of $40,134.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 67.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in SYX. AJO LP acquired a new position in shares of Systemax in the 1st quarter valued at $32,000. Bank of Montreal Can raised its holdings in Systemax by 43.2% during the 4th quarter. Bank of Montreal Can now owns 1,559 shares of the company’s stock worth $39,000 after buying an additional 470 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Systemax by 76.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,966 shares of the company’s stock valued at $70,000 after buying an additional 1,713 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Systemax by 1,666.7% in the first quarter. Nisa Investment Advisors LLC now owns 5,300 shares of the company’s stock worth $94,000 after buying an additional 5,000 shares during the period. Finally, IndexIQ Advisors LLC acquired a new position in shares of Systemax in the first quarter worth about $195,000. 28.88% of the stock is currently owned by institutional investors.

Systemax Company Profile

Systemax Inc operates as a direct marketer of brand name and private label industrial and business equipment and supplies in North America. It sells a range of maintenance, repair, and operation products, including storage and shelving, material handling, janitorial and maintenance products, furniture and office products, workbenches and shop desks, HVAC/R and fans, safety and security products, outdoor and grounds maintenance products, tools and instruments, and office and school supplies.

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