ValuEngine upgraded shares of PCM, Inc. (NASDAQ:PCMI) from a hold rating to a buy rating in a report issued on Monday.

Other equities analysts have also recently issued reports about the stock. B. Riley reaffirmed a buy rating and set a $33.00 price target on shares of PCM in a research note on Sunday, July 30th. BidaskClub raised shares of PCM from a hold rating to a buy rating in a research note on Saturday, July 15th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. PCM presently has a consensus rating of Buy and a consensus price target of $28.23.

PCM (NASDAQ PCMI) traded up 0.528% during mid-day trading on Monday, hitting $14.275. 12,060 shares of the company traded hands. The company’s 50-day moving average price is $13.18 and its 200 day moving average price is $18.87. The company has a market capitalization of $179.78 million, a price-to-earnings ratio of 11.429 and a beta of 0.88. PCM has a one year low of $11.80 and a one year high of $31.20.

PCM (NASDAQ:PCMI) last issued its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). The business had revenue of $560.11 million for the quarter, compared to the consensus estimate of $595.74 million. PCM had a return on equity of 17.32% and a net margin of 0.73%. PCM’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. On average, analysts anticipate that PCM will post $2.00 earnings per share for the current fiscal year.

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PCM announced that its board has approved a stock repurchase plan on Wednesday, August 9th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of PCM by 13.2% in the 1st quarter. Bank of New York Mellon Corp now owns 21,492 shares of the specialty retailer’s stock valued at $603,000 after buying an additional 2,509 shares during the last quarter. Morgan Stanley boosted its holdings in shares of PCM by 120.1% in the 1st quarter. Morgan Stanley now owns 109,296 shares of the specialty retailer’s stock valued at $3,066,000 after buying an additional 59,646 shares during the last quarter. UBS Group AG boosted its holdings in shares of PCM by 2,426.1% in the 1st quarter. UBS Group AG now owns 13,565 shares of the specialty retailer’s stock valued at $381,000 after buying an additional 13,028 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of PCM by 21.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 50,205 shares of the specialty retailer’s stock valued at $941,000 after buying an additional 8,918 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of PCM in the 1st quarter valued at approximately $217,000. 62.58% of the stock is owned by institutional investors.

PCM Company Profile

PCM, Inc is a multi-vendor provider of technology solutions, including hardware products, software and services, offered through its dedicated sales force, field and internal service teams, direct marketing channels, and owned and operated data centers. The Company’s segments include Commercial, Public Sector, Canada and United Kingdom.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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