ScanSource, Inc. (SCSC) Receives Consensus Rating of “Hold” from Analysts
ScanSource, Inc. (NASDAQ:SCSC) has been given a consensus rating of “Hold” by the six brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $48.50.
A number of equities research analysts have recently issued reports on SCSC shares. Zacks Investment Research lowered ScanSource from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. ValuEngine lowered ScanSource from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. BidaskClub upgraded ScanSource from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 20th. TheStreet lowered ScanSource from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. Finally, Northcoast Research lowered ScanSource from a “buy” rating to a “neutral” rating in a research note on Monday, October 2nd.
Shares of ScanSource (SCSC) opened at $35.25 on Wednesday. The company has a market capitalization of $903.96, a PE ratio of 15.33, a price-to-earnings-growth ratio of 3.93 and a beta of 1.04. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.08 and a current ratio of 1.94. ScanSource has a 12 month low of $33.55 and a 12 month high of $45.35.
Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of ScanSource by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock valued at $120,000 after buying an additional 446 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in ScanSource in the third quarter valued at about $202,000. SG Americas Securities LLC boosted its holdings in ScanSource by 12.0% in the second quarter. SG Americas Securities LLC now owns 4,768 shares of the industrial products company’s stock valued at $192,000 after purchasing an additional 509 shares during the last quarter. Palouse Capital Management Inc. purchased a new position in ScanSource in the third quarter valued at about $226,000. Finally, Piedmont Investment Advisors LLC purchased a new position in ScanSource in the second quarter valued at about $221,000. Institutional investors and hedge funds own 94.35% 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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