ScanSource (NASDAQ:SCSC) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of ScanSource (NASDAQ:SCSC) from a hold rating to a sell rating in a research report sent to investors on Tuesday, BidAskClub reports.

SCSC has been the subject of several other reports. Zacks Investment Research downgraded shares of ScanSource from a hold rating to a strong sell rating in a research note on Saturday, February 8th. TheStreet upgraded shares of ScanSource from a c+ rating to a b- rating in a research note on Thursday, November 21st. Finally, ValuEngine upgraded shares of ScanSource from a sell rating to a hold rating in a research note on Thursday, October 24th. Two equities research 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’s stock. The company presently has a consensus rating of Hold and an average target price of $37.00.

Shares of SCSC opened at $31.93 on Tuesday. The company has a market cap of $809.30 million, a price-to-earnings ratio of 17.74 and a beta of 0.94. ScanSource has a twelve month low of $26.84 and a twelve month high of $40.55. The company has a quick ratio of 0.96, a current ratio of 1.85 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average of $34.92 and a two-hundred day moving average of $33.09.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $0.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.04). The firm had revenue of $989.50 million during the quarter, compared to analyst estimates of $908.27 million. ScanSource had a net margin of 1.20% and a return on equity of 8.32%. ScanSource’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.96 earnings per share. On average, sell-side analysts expect that ScanSource will post 2.63 EPS for the current year.

In related news, Director Michael J. Grainger acquired 3,200 shares of the stock in a transaction dated Tuesday, February 11th. The stock was acquired at an average cost of $31.90 per share, for a total transaction of $102,080.00. Following the completion of the purchase, the director now owns 25,000 shares of the company’s stock, valued at approximately $797,500. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.87% of the company’s stock.

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in shares of ScanSource by 54.0% during the fourth quarter. AQR Capital Management LLC now owns 244,008 shares of the industrial products company’s stock worth $9,016,000 after purchasing an additional 85,605 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of ScanSource during the fourth quarter worth about $314,000. UBS Asset Management Americas Inc. increased its stake in shares of ScanSource by 51.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 18,997 shares of the industrial products company’s stock worth $702,000 after purchasing an additional 6,414 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of ScanSource by 122.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 96,298 shares of the industrial products company’s stock worth $3,558,000 after purchasing an additional 52,976 shares in the last quarter. Finally, UBS Group AG increased its stake in shares of ScanSource by 84.6% during the fourth quarter. UBS Group AG now owns 34,648 shares of the industrial products company’s stock worth $1,280,000 after purchasing an additional 15,876 shares in the last quarter. Institutional investors and hedge funds own 93.13% 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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