Zacks: Brokerages Set $21.25 Price Target for PCM Inc. (PCMI)
Shares of PCM Inc. (NASDAQ:PCMI) have earned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. PCM’s rating score has declined by 100% from 90 days ago as a result of various analysts’ ratings changes.
Brokerages have set a twelve-month consensus price target of $21.25 for the company and are expecting that the company will post $0.31 earnings per share for the current quarter, according to Zacks. Zacks has also assigned PCM an industry rank of 180 out of 265 based on the ratings given to its competitors.
A number of brokerages recently weighed in on PCMI. B. Riley reissued a “buy” rating and issued a $22.00 price target on shares of PCM in a report on Tuesday, September 27th. Zacks Investment Research raised shares of PCM from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a report on Saturday, July 30th. Finally, Roth Capital began coverage on shares of PCM in a report on Thursday, July 21st. They issued a “buy” rating and a $16.00 price target on the stock.
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In related news, Director Thomas A. Maloof sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $19.00, for a total value of $47,500.00. Following the sale, the director now directly owns 68,000 shares in the company, valued at approximately $1,292,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas A. Maloof sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $20.50, for a total value of $102,500.00. Following the completion of the sale, the director now owns 65,500 shares in the company, valued at $1,342,750. The disclosure for this sale can be found here. 30.50% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Stifel Financial Corp purchased a new stake in shares of PCM during the second quarter worth about $3,788,000. Mork Capital Management LLC purchased a new stake in shares of PCM during the second quarter worth about $557,000. Royce & Associates LP boosted its stake in shares of PCM by 4.0% in the second quarter. Royce & Associates LP now owns 1,065,356 shares of the company’s stock worth $11,868,000 after buying an additional 40,668 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of PCM by 29.8% in the first quarter. Renaissance Technologies LLC now owns 128,200 shares of the company’s stock worth $1,028,000 after buying an additional 29,400 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of PCM by 28.6% in the second quarter. Royal Bank of Canada now owns 37,158 shares of the company’s stock worth $414,000 after buying an additional 8,256 shares in the last quarter. Institutional investors and hedge funds own 34.72% of the company’s stock.
Shares of PCM (NASDAQ:PCMI) traded up 0.40% during midday trading on Tuesday, reaching $22.81. 162,759 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $19.28 and a 200 day moving average price of $13.32. The company’s market cap is $266.24 million. PCM has a 12 month low of $7.48 and a 12 month high of $23.28.
PCM (NASDAQ:PCMI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.29. The company had revenue of $581 million for the quarter, compared to the consensus estimate of $478.87 million. PCM had a negative net margin of 0.38% and a positive return on equity of 10.27%. Equities research analysts forecast that PCM will post $1.57 earnings per share for the current fiscal year.
PCM, Inc is engaged in providing technology products, services and solutions through direct marketing channels, and owned and operated data centers. The Company offers technology products, solutions and other consumer products. Its segments include Commercial, Public Sector, MacMall, Canada, and Corporate & Other.
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