PCM (NASDAQ:PCMI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The firm currently has a $30.00 price target on the specialty retailer’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 16.19% from the stock’s previous close.
According to Zacks, “PCM Inc. is a technology solutions provider to businesses, government and educational institutions and individual consumers. The Company’s operating segments consists of Commercial, Public Sector and MacMall. It offers technology products and solutions as well as consumer electronics equipment and other consumer products. PCM Inc., formerly known as PC Mall, Inc., is headquartered in El Segundo, California. “
Several other analysts have also recently commented on PCMI. BidaskClub cut PCM from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. ValuEngine upgraded PCM from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. B. Riley restated a “buy” rating on shares of PCM in a report on Tuesday, March 26th. Roth Capital increased their price target on PCM from $24.20 to $29.60 and gave the stock a “buy” rating in a report on Thursday, February 7th. Finally, TheStreet upgraded PCM from a “c” rating to a “b-” rating in a report on Wednesday, February 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $28.87.
PCM (NASDAQ:PCMI) last announced its earnings results on Thursday, April 25th. The specialty retailer reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.11. PCM had a return on equity of 19.06% and a net margin of 1.14%. The business had revenue of $533.99 million for the quarter, compared to analysts’ expectations of $533.20 million. As a group, sell-side analysts anticipate that PCM will post 2.44 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of PCMI. Morgan Stanley boosted its holdings in shares of PCM by 216.6% during the 3rd quarter. Morgan Stanley now owns 227,305 shares of the specialty retailer’s stock worth $4,444,000 after buying an additional 155,518 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of PCM by 520.7% during the 1st quarter. Renaissance Technologies LLC now owns 162,000 shares of the specialty retailer’s stock worth $5,934,000 after buying an additional 135,900 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of PCM by 69.3% during the 3rd quarter. BlackRock Inc. now owns 272,032 shares of the specialty retailer’s stock worth $5,318,000 after buying an additional 111,375 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of PCM by 61.2% during the 1st quarter. Acadian Asset Management LLC now owns 251,009 shares of the specialty retailer’s stock worth $9,193,000 after buying an additional 95,272 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of PCM during the 1st quarter worth approximately $2,999,000. Hedge funds and other institutional investors own 61.39% of the company’s stock.
PCM Company Profile
PCM, Inc, through its subsidiaries, operates as a multi-vendor provider of technology products and solutions in the United States and the rest of Europe. The company operates through four segments: Commercial, Public Sector, Canada, and United Kingdom. It primarily sells device products, servers, storage products, network products, printers, and related accessories and devices.
Further Reading: Book Value Per Share in Stock Trading
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PCM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PCM and related companies with MarketBeat.com's FREE daily email newsletter.