SCSC has been the topic of several other research reports. Zacks Investment Research raised ScanSource from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Saturday, February 9th. Northcoast Research cut ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, May 6th. Finally, ValuEngine cut ScanSource from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. ScanSource currently has a consensus rating of “Hold” and an average price target of $44.50.
Shares of NASDAQ SCSC traded down $0.80 during midday trading on Friday, hitting $30.88. 113,026 shares of the stock traded hands, compared to its average volume of 113,085. ScanSource has a one year low of $30.04 and a one year high of $44.30. The company has a market cap of $804.48 million, a price-to-earnings ratio of 9.93 and a beta of 0.72. The company has a quick ratio of 0.99, a current ratio of 2.06 and a debt-to-equity ratio of 0.38.
In other news, Director Michael J. Grainger purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average price of $30.69 per share, with a total value of $122,760.00. Following the transaction, the director now directly owns 18,100 shares of the company’s stock, valued at $555,489. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael L. Baur sold 10,604 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $37.38, for a total value of $396,377.52. Following the transaction, the chief executive officer now directly owns 47,678 shares in the company, valued at approximately $1,782,203.64. The disclosure for this sale can be found here. 2.56% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Investors Research Corp bought a new position in ScanSource in the 1st quarter worth about $25,000. Resources Investment Advisors Inc. bought a new position in ScanSource in the 1st quarter worth about $36,000. One Wealth Advisors LLC bought a new position in ScanSource in the 1st quarter worth about $44,000. PNC Financial Services Group Inc. increased its stake in ScanSource by 32.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,270 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 313 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new position in ScanSource in the 4th quarter worth about $45,000. Institutional investors own 97.82% 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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