BidaskClub Downgrades ScanSource (SCSC) to Strong Sell

ScanSource (NASDAQ:SCSC) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Wednesday.

Several other equities research analysts have also weighed in on SCSC. Northcoast Research lowered shares of ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, October 2nd. Zacks Investment Research lowered shares of ScanSource from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. ValuEngine lowered shares of ScanSource from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, TheStreet lowered shares of ScanSource from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.75.

ScanSource (NASDAQ SCSC) traded down $0.20 on Wednesday, reaching $35.25. 67,900 shares of the company’s stock traded hands, compared to its average volume of 84,617. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $903.96, a price-to-earnings ratio of 15.33, a PEG ratio of 3.93 and a beta of 1.04. ScanSource has a 12 month low of $33.55 and a 12 month high of $45.35.

ScanSource (NASDAQ:SCSC) last posted its earnings results on Monday, November 6th. The industrial products company reported $0.76 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.02). The firm had revenue of $924.56 million during the quarter, compared to analyst estimates of $966.20 million. ScanSource had a return on equity of 8.78% and a net margin of 1.65%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the business posted $0.68 earnings per share. research analysts forecast that ScanSource will post 2.98 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of ScanSource by 0.9% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 23,266 shares of the industrial products company’s stock worth $938,000 after acquiring an additional 200 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of ScanSource by 1.0% during the second quarter. Public Employees Retirement System of Ohio now owns 42,294 shares of the industrial products company’s stock worth $1,704,000 after acquiring an additional 438 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of ScanSource by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 446 shares in the last quarter. SG Americas Securities LLC increased its position in shares of ScanSource by 12.0% during the second quarter. SG Americas Securities LLC now owns 4,768 shares of the industrial products company’s stock worth $192,000 after acquiring an additional 509 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of ScanSource by 8.0% during the second quarter. Voya Investment Management LLC now owns 13,394 shares of the industrial products company’s stock worth $540,000 after acquiring an additional 994 shares in the last quarter. 94.35% of the stock is owned by institutional investors.

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About ScanSource

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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