FY2018 EPS Estimates for ScanSource, Inc. (SCSC) Lifted by Northcoast Research
ScanSource, Inc. (NASDAQ:SCSC) – Research analysts at Northcoast Research boosted their FY2018 earnings per share estimates for shares of ScanSource in a research note issued to investors on Wednesday, August 15th. Northcoast Research analyst K. Housum now anticipates that the industrial products company will earn $3.13 per share for the year, up from their previous estimate of $3.11. Northcoast Research also issued estimates for ScanSource’s Q4 2018 earnings at $0.79 EPS and FY2019 earnings at $3.66 EPS.
A number of other research analysts also recently commented on SCSC. BidaskClub downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. ValuEngine downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research raised shares of ScanSource from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Friday, May 11th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. ScanSource presently has an average rating of “Buy” and an average price target of $45.50.
In other news, CEO Michael L. Baur sold 4,991 shares of the business’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $40.00, for a total transaction of $199,640.00. Following the completion of the sale, the chief executive officer now owns 40,691 shares in the company, valued at approximately $1,627,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.35% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Paloma Partners Management Co purchased a new stake in shares of ScanSource during the 2nd quarter worth about $364,000. Cubist Systematic Strategies LLC purchased a new position in ScanSource in the 2nd quarter worth approximately $281,000. Bank of America Corp DE boosted its holdings in ScanSource by 20.6% in the 2nd quarter. Bank of America Corp DE now owns 127,185 shares of the industrial products company’s stock worth $5,125,000 after acquiring an additional 21,728 shares during the period. ClariVest Asset Management LLC purchased a new position in ScanSource in the 2nd quarter worth approximately $201,000. Finally, Legal & General Group Plc boosted its holdings in ScanSource by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 63,763 shares of the industrial products company’s stock worth $2,579,000 after acquiring an additional 1,468 shares during the period. Institutional investors and hedge funds own 95.54% of the company’s stock.
ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. The company's Worldwide Barcode, Networking & Security segment focuses on automatic identification and data capture (AIDC), point-of-sale (POS), networking, electronic physical security, 3D printing, and other specialty technologies.
Recommended Story: Average Daily Trade Volume – What It Means In Stock Trading
Receive News & Ratings for ScanSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ScanSource and related companies with MarketBeat.com's FREE daily email newsletter.