According to Zacks, “ScanSource, Inc. serves North America as a value-added distributor of specialty technologies, including automatic identification and point-of-sale products, and business telephone products. Serving only the value added reseller, ScanSource is committed to growing specialty technology markets by strengthening and enlarging the value added reseller channel. ScanSource’s commitment to value added resellers includes offering a broad product selection, competitive pricing, fast delivery, technical support, sales training, customer financing and qualified leads. “
Several other analysts also recently weighed in on SCSC. TheStreet downgraded Trinseo from a b- rating to a c+ rating in a report on Friday, May 17th. ValuEngine downgraded Yext from a strong-buy rating to a buy rating in a report on Friday, May 10th. Northcoast Research downgraded ScanSource from a buy rating to a neutral rating in a report on Monday, May 6th. Finally, BidaskClub raised Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $44.50.
ScanSource (NASDAQ:SCSC) last posted its earnings results on Thursday, May 9th. The industrial products company reported $0.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.01). ScanSource had a net margin of 1.44% and a return on equity of 9.90%. The firm had revenue of $893.40 million during the quarter, compared to analysts’ expectations of $931.63 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis. Sell-side analysts forecast that ScanSource will post 3.48 earnings per share for the current year.
In other news, Director Michael J. Grainger bought 4,000 shares of ScanSource stock in a transaction dated Tuesday, May 14th. The stock was acquired at an average cost of $30.69 per share, with a total value of $122,760.00. Following the acquisition, the director now owns 18,100 shares of the company’s stock, valued at $555,489. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 2.56% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Denali Advisors LLC increased its position in ScanSource by 228.1% in the 2nd quarter. Denali Advisors LLC now owns 23,361 shares of the industrial products company’s stock valued at $761,000 after acquiring an additional 16,240 shares during the period. GYL Financial Synergies LLC acquired a new position in ScanSource in the 1st quarter valued at about $892,000. Palouse Capital Management Inc. acquired a new position in ScanSource in the 1st quarter valued at about $204,000. Resources Investment Advisors Inc. acquired a new position in ScanSource in the 1st quarter valued at about $36,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in ScanSource in the 1st quarter valued at about $223,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.
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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