ScanSource (SCSC) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of ScanSource (NASDAQ:SCSC) from a hold rating to a sell rating in a report published on Friday, BidAskClub reports.

Several other research analysts also recently commented on the stock. Northcoast Research downgraded shares of ScanSource from a buy rating to a neutral rating in a report on Monday, May 6th. Zacks Investment Research downgraded shares of ScanSource from a hold rating to a sell rating in a report on Thursday, February 7th. Finally, ValuEngine downgraded shares of ScanSource from a hold rating to a sell rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $44.50.

Shares of SCSC stock opened at $30.48 on Friday. ScanSource has a 52-week low of $30.25 and a 52-week high of $44.30. The company has a quick ratio of 1.07, a current ratio of 2.03 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $907.81 million, a price-to-earnings ratio of 9.80 and a beta of 0.72.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, May 9th. The industrial products company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). ScanSource had a net margin of 1.44% and a return on equity of 9.98%. The company had revenue of $893.40 million for the quarter, compared to the consensus estimate of $931.63 million. During the same period last year, the company earned $0.68 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. Analysts expect that ScanSource will post 3.54 EPS for the current year.

In other ScanSource news, CEO Michael L. Baur sold 10,604 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $37.38, for a total transaction of $396,377.52. Following the completion of the transaction, the chief executive officer now owns 47,678 shares of the company’s stock, valued at approximately $1,782,203.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.56% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Investors Research Corp bought a new position in shares of ScanSource during the 1st quarter valued at about $25,000. Resources Investment Advisors Inc. bought a new position in shares of ScanSource during the 1st quarter valued at about $36,000. PNC Financial Services Group Inc. boosted its holdings in shares of ScanSource by 32.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,270 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 313 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of ScanSource in the 4th quarter valued at about $45,000. Finally, Value Holdings Management CO. LLC bought a new position in shares of ScanSource in the 4th quarter valued at about $68,000. 97.89% of the stock is owned by institutional investors and hedge funds.

About ScanSource

ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).

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