Zacks: ScanSource, Inc. (SCSC) Given $42.67 Consensus Target Price by Analysts
Shares of ScanSource, Inc. (NASDAQ:SCSC) have earned a consensus broker rating score of 2.00 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company.
Analysts have set a 1-year consensus price objective of $42.67 for the company and are expecting that the company will post $0.68 EPS for the current quarter, according to Zacks. Zacks has also assigned ScanSource an industry rank of 195 out of 265 based on the ratings given to related companies.
Several analysts have commented on the company. FinTrust Advisors cut ScanSource from a “buy” rating to a “hold” rating and lifted their price target for the company from $42.20 to $48.50 in a report on Monday, February 20th. Zacks Investment Research lowered ScanSource from a “buy” rating to a “sell” rating in a research report on Saturday, May 13th.
Shares of ScanSource (NASDAQ:SCSC) traded down 1.04% during midday trading on Friday, reaching $37.95. 21,788 shares of the company traded hands. The stock’s 50-day moving average is $38.78 and its 200-day moving average is $39.44. The stock has a market capitalization of $960.67 million, a P/E ratio of 15.40 and a beta of 1.18. ScanSource has a 1-year low of $29.05 and a 1-year high of $44.95.
ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.01. The firm had revenue of $813.50 million for the quarter, compared to analyst estimates of $833.10 million. ScanSource had a return on equity of 8.56% and a net margin of 1.85%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. Equities analysts predict that ScanSource will post $2.76 EPS for the current fiscal year.
In other ScanSource news, CEO Michael L. Baur sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $40.21, for a total transaction of $2,010,500.00. Following the transaction, the chief executive officer now owns 51,572 shares of the company’s stock, valued at approximately $2,073,710.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.03% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in SCSC. FMR LLC increased its stake in ScanSource by 6.7% in the fourth quarter. FMR LLC now owns 3,304,000 shares of the industrial products company’s stock valued at $133,316,000 after buying an additional 206,983 shares in the last quarter. Martingale Asset Management L P bought a new stake in ScanSource during the fourth quarter valued at $490,000. State Street Corp increased its stake in ScanSource by 7.4% in the fourth quarter. State Street Corp now owns 609,459 shares of the industrial products company’s stock valued at $24,594,000 after buying an additional 41,959 shares in the last quarter. Comerica Bank increased its stake in ScanSource by 4.0% in the fourth quarter. Comerica Bank now owns 26,986 shares of the industrial products company’s stock valued at $1,096,000 after buying an additional 1,027 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in ScanSource during the fourth quarter valued at $1,596,000. 98.93% of the stock is currently owned by institutional investors.
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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