ScanSource (NASDAQ:SCSC) Reaches New 52-Week High – Should You Buy?

ScanSource, Inc. (NASDAQ:SCSC) hit a new 52-week high during trading on Wednesday . The company traded as high as $52.42 and last traded at $52.09, with a volume of 183959 shares changing hands. The stock had previously closed at $51.28.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Zacks Research upgraded ScanSource from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Wall Street Zen upgraded ScanSource from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Weiss Ratings raised shares of ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.00.

ScanSource Trading Up 1.6%

The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 0.88 and a beta of 1.30. The company has a 50-day moving average price of $45.46 and a 200-day moving average price of $40.99. The company has a quick ratio of 1.20, a current ratio of 1.86 and a debt-to-equity ratio of 0.11.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, May 7th. The industrial products company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. ScanSource had a return on equity of 9.35% and a net margin of 2.38%.The business had revenue of $758.59 million for the quarter, compared to analyst estimates of $738.55 million. During the same period in the previous year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Research analysts predict that ScanSource, Inc. will post 3.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of ScanSource by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 2,827,007 shares of the industrial products company’s stock worth $110,423,000 after acquiring an additional 78,993 shares during the last quarter. Wasatch Advisors LP raised its stake in ScanSource by 34.9% during the 3rd quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company’s stock valued at $50,130,000 after purchasing an additional 294,624 shares during the last quarter. Pzena Investment Management LLC grew its position in ScanSource by 0.6% in the 1st quarter. Pzena Investment Management LLC now owns 913,239 shares of the industrial products company’s stock worth $33,151,000 after purchasing an additional 5,783 shares during the last quarter. LSV Asset Management increased its holdings in shares of ScanSource by 40.6% during the 4th quarter. LSV Asset Management now owns 847,863 shares of the industrial products company’s stock worth $33,118,000 after purchasing an additional 244,903 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of ScanSource by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 562,109 shares of the industrial products company’s stock worth $21,960,000 after purchasing an additional 13,318 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

About ScanSource

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.