ScanSource (SCSC) Downgraded by BidaskClub
ScanSource (NASDAQ:SCSC) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday.
Several other brokerages have also recently commented on SCSC. ValuEngine upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. TheStreet cut shares of ScanSource from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. Finally, Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $45.75.
Shares of ScanSource (NASDAQ:SCSC) traded down $0.20 during midday trading on Thursday, hitting $35.05. 191,182 shares of the company traded hands, compared to its average volume of 94,226. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.08. ScanSource has a 12-month low of $33.55 and a 12-month high of $45.35. The firm has a market capitalization of $896.01, a PE ratio of 12.38, a price-to-earnings-growth ratio of 3.93 and a beta of 1.03.
In other ScanSource news, CEO Michael L. Baur sold 17,621 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $44.32, for a total transaction of $780,962.72. Following the completion of the transaction, the chief executive officer now directly owns 35,209 shares in the company, valued at approximately $1,560,462.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael L. Baur sold 44,565 shares of the firm’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $44.16, for a total transaction of $1,967,990.40. The disclosure for this sale can be found here. Insiders have sold a total of 90,397 shares of company stock valued at $3,959,574 over the last 90 days. 2.35% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. Teachers Advisors LLC grew its holdings in shares of ScanSource by 2.4% during the first quarter. Teachers Advisors LLC now owns 58,605 shares of the industrial products company’s stock worth $2,300,000 after buying an additional 1,368 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of ScanSource during the first quarter worth about $2,599,000. Credit Suisse AG grew its holdings in shares of ScanSource by 23.8% during the first quarter. Credit Suisse AG now owns 43,470 shares of the industrial products company’s stock worth $1,707,000 after buying an additional 8,356 shares in the last quarter. Aperio Group LLC grew its holdings in shares of ScanSource by 15.0% during the second quarter. Aperio Group LLC now owns 9,594 shares of the industrial products company’s stock worth $387,000 after buying an additional 1,251 shares in the last quarter. Finally, Strs Ohio grew its holdings in shares of ScanSource by 1.9% during the second quarter. Strs Ohio now owns 21,800 shares of the industrial products company’s stock worth $878,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 94.42% of the company’s stock.
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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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