PCM (PCMI) Downgraded to “Sell” at Zacks Investment Research

PCM (NASDAQ:PCMI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “PCM Inc. is a technology solutions provider to businesses, government and educational institutions and individual consumers. The Company’s operating segments consists of Commercial, Public Sector and MacMall. It offers technology products and solutions as well as consumer electronics equipment and other consumer products. PCM Inc., formerly known as PC Mall, Inc., is headquartered in El Segundo, California. “

Other analysts have also issued research reports about the company. TheStreet lowered PCM from a “b-” rating to a “c” rating in a research note on Monday, November 6th. B. Riley reaffirmed a “buy” rating and issued a $20.00 price target (down previously from $33.00) on shares of PCM in a research note on Tuesday, November 7th. ValuEngine lowered PCM from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Roth Capital decreased their price objective on PCM from $28.00 to $18.50 and set a “buy” rating for the company in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $18.73.

Shares of PCM (NASDAQ:PCMI) opened at $7.82 on Tuesday. PCM has a 52 week low of $7.70 and a 52 week high of $31.20. The company has a market capitalization of $98.37, a price-to-earnings ratio of 9.90, a P/E/G ratio of 0.16 and a beta of 0.61. The company has a quick ratio of 0.85, a current ratio of 1.00 and a debt-to-equity ratio of 0.26.

PCM (NASDAQ:PCMI) last announced its quarterly earnings results on Monday, November 6th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.23). PCM had a return on equity of 14.90% and a net margin of 0.47%. The business had revenue of $545.50 million during the quarter, compared to analysts’ expectations of $596.17 million. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. analysts expect that PCM will post 1.49 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of PCMI. Brandywine Global Investment Management LLC bought a new position in PCM in the second quarter worth $127,000. Rhumbline Advisers bought a new position in PCM in the third quarter worth $142,000. The Manufacturers Life Insurance Company raised its holdings in PCM by 16,357.7% in the second quarter. The Manufacturers Life Insurance Company now owns 8,558 shares of the specialty retailer’s stock worth $160,000 after purchasing an additional 8,506 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in PCM in the third quarter worth $199,000. Finally, Kestrel Investment Management Corp bought a new position in PCM in the third quarter worth $210,000. Institutional investors and hedge funds own 55.44% of the company’s stock.

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PCM Company Profile

PCM, Inc is a multi-vendor provider of technology solutions, including hardware products, software and services, offered through its dedicated sales force, field and internal service teams, direct marketing channels, and owned and operated data centers. The Company’s segments include Commercial, Public Sector, Canada and United Kingdom.

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