Brokerages Set ScanSource, Inc. (SCSC) PT at $48.50

Shares of ScanSource, Inc. (NASDAQ:SCSC) have been given an average rating of “Hold” by the six brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $48.50.

A number of research firms recently issued reports on SCSC. Zacks Investment Research raised ScanSource from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub downgraded ScanSource from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. TheStreet downgraded ScanSource from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, ValuEngine downgraded ScanSource from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th.

ScanSource (NASDAQ:SCSC) remained flat at $$35.65 during trading hours on Wednesday. 61,253 shares of the stock traded hands, compared to its average volume of 110,224. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.08. The firm has a market cap of $909.06, a price-to-earnings ratio of 15.50, a P/E/G ratio of 3.99 and a beta of 1.04. ScanSource has a one year low of $33.55 and a one year high of $45.35.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in SCSC. Victory Capital Management Inc. increased its position in 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 buying an additional 446 shares during the last quarter. SG Americas Securities LLC increased its position in 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 buying an additional 509 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in ScanSource during the third quarter worth approximately $202,000. Piedmont Investment Advisors LLC acquired a new position in ScanSource during the second quarter worth approximately $221,000. Finally, Palouse Capital Management Inc. acquired a new position in ScanSource during the third quarter worth approximately $226,000. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

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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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