Analysts’ Recent Ratings Changes for ScanSource (SCSC)

A number of research firms have changed their ratings and price targets for ScanSource (NASDAQ: SCSC):

  • 10/31/2018 – ScanSource was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “ScanSource, Inc. serves North America as a value-added distributor of specialty technologies, including automatic identification and point-of-sale products, and business telephone products. Serving only the value added reseller, ScanSource is committed to growing specialty technology markets by strengthening and enlarging the value added reseller channel. ScanSource’s commitment to value added resellers includes offering a broad product selection, competitive pricing, fast delivery, technical support, sales training, customer financing and qualified leads. “
  • 10/31/2018 – ScanSource was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 10/23/2018 – ScanSource was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/17/2018 – ScanSource was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “ScanSource, Inc. serves North America as a value-added distributor of specialty technologies, including automatic identification and point-of-sale products, and business telephone products. Serving only the value added reseller, ScanSource is committed to growing specialty technology markets by strengthening and enlarging the value added reseller channel. ScanSource’s commitment to value added resellers includes offering a broad product selection, competitive pricing, fast delivery, technical support, sales training, customer financing and qualified leads. “
  • 10/2/2018 – ScanSource was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 9/15/2018 – ScanSource was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 9/6/2018 – ScanSource was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of NASDAQ:SCSC opened at $40.65 on Friday. The company has a market capitalization of $987.02 million, a P/E ratio of 13.07 and a beta of 0.83. The company has a quick ratio of 1.08, a current ratio of 1.92 and a debt-to-equity ratio of 0.29. ScanSource, Inc. has a one year low of $31.40 and a one year high of $44.27.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Tuesday, August 28th. The industrial products company reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The business had revenue of $993.90 million during the quarter, compared to the consensus estimate of $974.20 million. ScanSource had a net margin of 0.86% and a return on equity of 9.23%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS. On average, research analysts forecast that ScanSource, Inc. will post 3.56 earnings per share for the current fiscal year.

In related news, CFO Gerald Lyons sold 600 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $44.00, for a total value of $26,400.00. Following the completion of the transaction, the chief financial officer now owns 12,937 shares of the company’s stock, valued at approximately $569,228. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael L. Baur sold 13,747 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $604,868.00. Following the completion of the transaction, the chief executive officer now directly owns 49,446 shares of the company’s stock, valued at approximately $2,175,624. The disclosure for this sale can be found here. 2.35% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of SCSC. BlackRock Inc. lifted its stake in ScanSource by 12.8% in the 2nd quarter. BlackRock Inc. now owns 4,127,282 shares of the industrial products company’s stock valued at $166,329,000 after purchasing an additional 469,872 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in ScanSource in the 3rd quarter valued at approximately $1,789,000. Acadian Asset Management LLC lifted its stake in ScanSource by 212.2% in the 3rd quarter. Acadian Asset Management LLC now owns 61,860 shares of the industrial products company’s stock valued at $2,468,000 after purchasing an additional 42,043 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in ScanSource by 12.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 376,540 shares of the industrial products company’s stock valued at $15,175,000 after purchasing an additional 41,980 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in ScanSource by 305.6% in the 2nd quarter. Victory Capital Management Inc. now owns 33,859 shares of the industrial products company’s stock valued at $1,365,000 after purchasing an additional 25,512 shares during the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).

See Also: How to interpret a stock’s beta number

Receive News & Ratings for ScanSource Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ScanSource Inc and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply