Zacks Investment Research cut shares of ScanSource, Inc. (NASDAQ:SCSC) from a hold rating to a sell rating in a research note released on Thursday.

According to Zacks, “ScanSource, Inc. serves North America as a value-added distributor of specialty technologies, including automatic identification and point-of-sale products, and business telephone products. Serving only the value added reseller, ScanSource is committed to growing specialty technology markets by strengthening and enlarging the value added reseller channel. ScanSource’s commitment to value added resellers includes offering a broad product selection, competitive pricing, fast delivery, technical support, sales training, customer financing and qualified leads. “

Several other research analysts also recently issued reports on SCSC. ValuEngine downgraded shares of ScanSource from a buy rating to a hold rating in a research report on Tuesday, November 7th. BidaskClub downgraded shares of ScanSource from a sell rating to a strong sell rating in a research report on Tuesday, August 8th. Finally, Northcoast Research downgraded shares of ScanSource from a buy rating to a neutral rating in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. ScanSource presently has an average rating of Hold and an average target price of $45.75.

Shares of ScanSource (NASDAQ SCSC) traded down $1.60 during midday trading on Thursday, reaching $37.25. 60,700 shares of the company traded hands, compared to its average volume of 93,796. The firm has a market cap of $949.54, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 4.17 and a beta of 1.11. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33. ScanSource has a 1-year low of $34.10 and a 1-year high of $45.35.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.02). The company had revenue of $924.56 million for the quarter, compared to analyst estimates of $966.20 million. ScanSource had a return on equity of 8.78% and a net margin of 1.65%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. research analysts predict that ScanSource will post 2.98 earnings per share for the current year.

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In other news, CEO Michael L. Baur sold 5,435 shares of the company’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $43.80, for a total value of $238,053.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael L. Baur sold 17,621 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $44.32, for a total value of $780,962.72. Following the completion of the sale, the chief executive officer now directly owns 35,209 shares of the company’s stock, valued at $1,560,462.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,397 shares of company stock worth $3,959,574. Corporate insiders own 2.35% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. OxFORD Asset Management LLP increased its stake in shares of ScanSource by 23.4% in the 3rd quarter. OxFORD Asset Management LLP now owns 29,473 shares of the industrial products company’s stock valued at $1,303,000 after acquiring an additional 5,593 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of ScanSource by 5.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 285,462 shares of the industrial products company’s stock valued at $12,461,000 after acquiring an additional 14,381 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of ScanSource by 32.5% in the 3rd quarter. Wells Fargo & Company MN now owns 39,688 shares of the industrial products company’s stock valued at $1,733,000 after acquiring an additional 9,726 shares during the last quarter. Citadel Advisors LLC increased its stake in shares of ScanSource by 51.4% in the 3rd quarter. Citadel Advisors LLC now owns 55,659 shares of the industrial products company’s stock valued at $2,430,000 after acquiring an additional 18,890 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of ScanSource by 26.5% in the 3rd quarter. SG Americas Securities LLC now owns 6,030 shares of the industrial products company’s stock valued at $263,000 after acquiring an additional 1,262 shares during the last quarter. 93.68% of the stock is owned by institutional investors.

ScanSource Company Profile

ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.

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