ScanSource (NASDAQ:SCSC) Sets New 12-Month High – Should You Buy?

ScanSource, Inc. (NASDAQ:SCSC)’s share price reached a new 52-week high on Thursday . The company traded as high as $53.48 and last traded at $53.01, with a volume of 18644 shares trading hands. The stock had previously closed at $50.41.

Wall Street Analysts Forecast Growth

Separately, Raymond James cut ScanSource from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 15th.

ScanSource Stock Performance

The company has a quick ratio of 1.33, a current ratio of 2.10 and a debt-to-equity ratio of 0.15. The firm has a 50-day simple moving average of $47.18 and a 200 day simple moving average of $46.69. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.37 and a beta of 1.42.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Tuesday, August 27th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.13). The company had revenue of $746.11 million during the quarter, compared to analyst estimates of $838.60 million. ScanSource had a net margin of 2.36% and a return on equity of 8.32%. The business’s revenue was down 21.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. On average, sell-side analysts predict that ScanSource, Inc. will post 3.24 earnings per share for the current fiscal year.

Institutional Trading of ScanSource

Several hedge funds and other institutional investors have recently made changes to their positions in SCSC. Gladius Capital Management LP purchased a new stake in shares of ScanSource during the 3rd quarter worth $30,000. CWM LLC grew its position in ScanSource by 164.1% during the second quarter. CWM LLC now owns 647 shares of the industrial products company’s stock worth $29,000 after buying an additional 402 shares during the period. nVerses Capital LLC purchased a new position in ScanSource in the second quarter valued at about $40,000. Quest Partners LLC acquired a new stake in shares of ScanSource during the 2nd quarter valued at approximately $41,000. Finally, KBC Group NV grew its holdings in shares of ScanSource by 59.9% in the 3rd quarter. KBC Group NV now owns 1,182 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 443 shares during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

About ScanSource

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.