ScanSource (NASDAQ:SCSC) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
SCSC has been the subject of several other reports. Raymond James increased their price objective on ScanSource from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, August 29th. Zacks Investment Research raised ScanSource from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, ValuEngine downgraded ScanSource from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $46.00.
Shares of ScanSource stock traded up $0.31 on Wednesday, hitting $38.84. The company had a trading volume of 100 shares, compared to its average volume of 97,622. The company has a market cap of $958.84 million, a PE ratio of 12.49 and a beta of 0.83. ScanSource has a 1 year low of $31.40 and a 1 year high of $44.27. The company has a quick ratio of 1.08, a current ratio of 1.92 and a debt-to-equity ratio of 0.29.
In related news, CEO Michael L. Baur sold 13,747 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $44.00, for a total transaction of $604,868.00. Following the completion of the sale, the chief executive officer now directly owns 49,446 shares of the company’s stock, valued at $2,175,624. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gerald Lyons sold 600 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $44.00, for a total value of $26,400.00. Following the sale, the chief financial officer now directly owns 12,937 shares of the company’s stock, valued at $569,228. The disclosure for this sale can be found here. Company insiders own 2.56% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Rehmann Capital Advisory Group bought a new position in ScanSource during the second quarter valued at $161,000. ClariVest Asset Management LLC bought a new position in ScanSource during the second quarter valued at $201,000. Palouse Capital Management Inc. bought a new position in ScanSource during the second quarter valued at $205,000. First Citizens Bank & Trust Co. bought a new position in ScanSource during the third quarter valued at $209,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in ScanSource during the second quarter valued at $218,000. 94.59% of the stock is owned by institutional investors.
ScanSource Company Profile
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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