ScanSource, Inc. (SCSC) Receives $48.50 Consensus PT from Analysts
Shares of ScanSource, Inc. (NASDAQ:SCSC) have been assigned a consensus rating of “Hold” from the six analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $48.50.
A number of research analysts have issued reports on SCSC shares. Zacks Investment Research raised ScanSource from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Friday, September 1st. ValuEngine raised ScanSource from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Northcoast Research cut ScanSource from a “buy” rating to a “neutral” rating in a report on Monday. Finally, BidaskClub cut ScanSource from a “hold” rating to a “sell” rating in a report on Friday, July 28th.
In other ScanSource news, Director John Patrick Reilly sold 4,023 shares of ScanSource stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $41.00, for a total transaction of $164,943.00. Following the completion of the transaction, the director now directly owns 16,900 shares of the company’s stock, valued at $692,900. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 9,076 shares of company stock valued at $370,590. Company insiders own 3.03% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its holdings in shares of ScanSource by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 42,294 shares of the industrial products company’s stock valued at $1,704,000 after buying an additional 438 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of ScanSource in the second quarter valued at about $221,000. State Street Corp raised its holdings in shares of ScanSource by 3.6% in the second quarter. State Street Corp now owns 674,361 shares of the industrial products company’s stock valued at $27,177,000 after buying an additional 23,694 shares during the last quarter. Gotham Asset Management LLC raised its holdings in shares of ScanSource by 44.3% in the second quarter. Gotham Asset Management LLC now owns 10,721 shares of the industrial products company’s stock valued at $432,000 after buying an additional 3,289 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of ScanSource by 8.0% in the second quarter. Voya Investment Management LLC now owns 13,394 shares of the industrial products company’s stock valued at $540,000 after buying an additional 994 shares during the last quarter. 93.98% of the stock is owned by institutional investors and hedge funds.
ScanSource (NASDAQ:SCSC) traded up 1.83% during mid-day trading on Monday, hitting $44.55. 34,028 shares of the company were exchanged. The stock’s 50 day moving average is $39.51 and its 200-day moving average is $39.22. ScanSource has a 12-month low of $29.05 and a 12-month high of $44.95. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 16.44 and a beta of 1.16.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Tuesday, August 29th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.68. The company had revenue of $917.30 million during the quarter, compared to analysts’ expectations of $894.17 million. ScanSource had a return on equity of 8.76% and a net margin of 1.94%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share. Equities research analysts predict that ScanSource will post $3.07 EPS for the current year.
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ScanSource Company Profile
ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.
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