ScanSource (NASDAQ:SCSC) Lowered to C+ at TheStreet

TheStreet downgraded shares of ScanSource (NASDAQ:SCSC) from a b- rating to a c+ rating in a report published on Tuesday morning, TheStreetRatingsTable reports.

Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of ScanSource from a hold rating to a sell rating in a research report on Tuesday. ValuEngine upgraded shares of ScanSource from a sell rating to a hold rating in a research report on Thursday, October 24th. Finally, Zacks Investment Research lowered shares of ScanSource from a hold rating to a strong sell rating in a research report on Saturday, February 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $37.00.

SCSC opened at $31.93 on Tuesday. The firm has a market cap of $809.30 million, a P/E ratio of 17.74 and a beta of 0.94. ScanSource has a 1-year low of $26.84 and a 1-year high of $40.55. The company has a 50 day simple moving average of $34.92 and a two-hundred day simple moving average of $33.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.85 and a quick ratio of 0.96.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.04). The firm had revenue of $989.50 million during the quarter, compared to the consensus estimate of $908.27 million. ScanSource had a return on equity of 8.32% and a net margin of 1.20%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 earnings per share. Equities analysts anticipate that ScanSource will post 2.63 earnings per share for the current year.

In other news, Director Michael J. Grainger purchased 3,200 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 25,000 shares in the company, valued at approximately $797,500. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.87% of the company’s stock.

Large investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new position in shares of ScanSource during the fourth quarter worth $29,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ScanSource by 51.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,923 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 657 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of ScanSource during the third quarter worth $62,000. Bank of Montreal Can boosted its position in shares of ScanSource by 12.4% during the fourth quarter. Bank of Montreal Can now owns 3,818 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 422 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of ScanSource by 90.1% during the fourth quarter. SG Americas Securities LLC now owns 6,488 shares of the industrial products company’s stock worth $240,000 after acquiring an additional 3,075 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

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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