PCM, Inc. (PCMI) Given Consensus Recommendation of “Buy” by Analysts
Shares of PCM, Inc. (NASDAQ:PCMI) have earned a consensus rating of “Buy” from the six analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $28.23.
A number of equities analysts have recently commented on the stock. BidaskClub raised shares of PCM from a “hold” rating to a “buy” rating in a research note on Saturday, July 15th. B. Riley reaffirmed a “buy” rating and set a $33.00 price target on shares of PCM in a research note on Tuesday, July 25th. Finally, ValuEngine downgraded shares of PCM from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th.
A number of institutional investors and hedge funds have recently made changes to their positions in PCMI. Bank of New York Mellon Corp grew its position in PCM by 13.2% during the first quarter. Bank of New York Mellon Corp now owns 21,492 shares of the specialty retailer’s stock valued at $603,000 after purchasing an additional 2,509 shares in the last quarter. Parametric Portfolio Associates LLC bought a new stake in PCM in the first quarter worth approximately $210,000. SG Americas Securities LLC bought a new stake in PCM in the first quarter worth approximately $149,000. Vanguard Group Inc. grew its position in PCM by 4.3% in the first quarter. Vanguard Group Inc. now owns 279,442 shares of the specialty retailer’s stock worth $7,839,000 after acquiring an additional 11,599 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in PCM by 2.3% in the first quarter. Geode Capital Management LLC now owns 48,881 shares of the specialty retailer’s stock worth $1,370,000 after acquiring an additional 1,093 shares in the last quarter. 60.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PCM (NASDAQ:PCMI) opened at 13.95 on Wednesday. The stock has a market cap of $175.69 million, a price-to-earnings ratio of 11.17 and a beta of 0.88. PCM has a 52-week low of $11.80 and a 52-week high of $31.20. The stock’s 50 day moving average is $13.51 and its 200 day moving average is $17.44.
PCM (NASDAQ:PCMI) last posted its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.02). The company had revenue of $560.11 million for the quarter, compared to analysts’ expectations of $595.74 million. PCM had a return on equity of 17.32% and a net margin of 0.73%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 EPS. On average, equities analysts expect that PCM will post $2.00 earnings per share for the current fiscal year.
PCM declared that its board has authorized a stock repurchase program on Wednesday, August 9th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to purchase up to 6.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
PCM, Inc is a multi-vendor provider of technology solutions, including hardware products, software and services, offered through its dedicated sales force, field and internal service teams, direct marketing channels, and owned and operated data centers. The Company’s segments include Commercial, Public Sector, Canada and United Kingdom.
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