Insider Selling: ScanSource, Inc. (NASDAQ:SCSC) CEO Sells $54,851.82 in Stock
ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 2,491 shares of the business’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $22.02, for a total transaction of $54,851.82. Following the completion of the sale, the chief executive officer now owns 65,740 shares in the company, valued at $1,447,594.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
NASDAQ:SCSC opened at $21.61 on Friday. ScanSource, Inc. has a 1-year low of $13.78 and a 1-year high of $39.01. The firm has a 50 day simple moving average of $20.54 and a 200-day simple moving average of $22.95. The firm has a market cap of $548.05 million, a PE ratio of -2.84 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.67 and a quick ratio of 1.04.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Monday, August 31st. The industrial products company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). ScanSource had a negative net margin of 5.50% and a positive return on equity of 6.11%. The business had revenue of $636.50 million during the quarter, compared to analyst estimates of $635.80 million. During the same quarter last year, the firm posted $0.71 earnings per share. The company’s revenue was down 33.8% on a year-over-year basis. As a group, sell-side analysts expect that ScanSource, Inc. will post 1.91 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on SCSC shares. TheStreet cut shares of ScanSource from a “c” rating to a “d+” rating in a research report on Monday, August 31st. Raymond James restated a “buy” rating and set a $24.00 price objective on shares of ScanSource in a research report on Tuesday, September 1st. ValuEngine cut ScanSource from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. BidaskClub raised ScanSource from a “hold” rating to a “buy” rating in a report on Thursday, October 8th. Finally, Zacks Investment Research lowered ScanSource from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Two equities research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $25.00.
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).
Further Reading: What Are Treasury Bonds?
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.