PC Connection (NASDAQ:CNXN) Stock Rating Lowered by BidaskClub

PC Connection (NASDAQ:CNXN) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday, BidAskClub reports.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded PC Connection from a “sell” rating to a “hold” rating in a research report on Tuesday, June 16th. Sidoti cut PC Connection from a “buy” rating to a “neutral” rating and dropped their price target for the company from $53.00 to $50.00 in a research report on Monday. Finally, ValuEngine cut PC Connection from a “sell” rating to a “strong sell” rating in a research report on Monday.

Shares of CNXN stock opened at $40.71 on Tuesday. PC Connection has a fifty-two week low of $30.10 and a fifty-two week high of $56.33. The stock has a market cap of $1.06 billion, a P/E ratio of 12.80 and a beta of 0.96. The business has a fifty day simple moving average of $44.97 and a 200-day simple moving average of $43.72. The company has a quick ratio of 2.21, a current ratio of 2.70 and a debt-to-equity ratio of 0.02.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. PC Connection had a return on equity of 14.39% and a net margin of 2.91%. The business had revenue of $711.85 million during the quarter, compared to analysts’ expectations of $638.37 million. During the same quarter last year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, sell-side analysts anticipate that PC Connection will post 2.97 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can purchased a new stake in PC Connection during the 4th quarter worth about $52,000. USA Financial Portformulas Corp purchased a new stake in PC Connection during the 1st quarter worth about $50,000. Bank of Montreal Can increased its position in PC Connection by 49.7% during the 4th quarter. Bank of Montreal Can now owns 1,596 shares of the company’s stock worth $79,000 after purchasing an additional 530 shares in the last quarter. Advisor Group Inc. increased its position in PC Connection by 8.7% during the 4th quarter. Advisor Group Inc. now owns 3,334 shares of the company’s stock worth $165,000 after purchasing an additional 267 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in PC Connection during the 1st quarter worth about $158,000. Hedge funds and other institutional investors own 43.68% of the company’s stock.

About PC Connection

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.

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