ScanSource (NASDAQ:SCSC) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of ScanSource (NASDAQ:SCSC) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

A number of other research analysts have also recently commented on SCSC. Barclays initiated coverage on ScanSource in a research note on Tuesday, October 7th. They issued an “equal weight” rating and a $43.00 target price on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of ScanSource in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of ScanSource from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.50.

ScanSource Stock Up 1.9%

SCSC opened at $41.21 on Friday. The stock has a market cap of $902.09 million, a PE ratio of 13.69, a P/E/G ratio of 0.68 and a beta of 1.36. The company has a quick ratio of 1.30, a current ratio of 2.01 and a debt-to-equity ratio of 0.14. ScanSource has a 52 week low of $28.75 and a 52 week high of $53.90. The business’s fifty day simple moving average is $43.27 and its 200 day simple moving average is $39.96.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, August 21st. The industrial products company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. The business had revenue of $812.89 million for the quarter, compared to analysts’ expectations of $776.21 million. ScanSource had a return on equity of 9.38% and a net margin of 2.35%.The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. ScanSource has set its FY 2026 guidance at EPS. As a group, research analysts expect that ScanSource will post 3.33 earnings per share for the current fiscal year.

Insider Transactions at ScanSource

In other news, CEO Michael L. Baur sold 47,969 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $44.34, for a total transaction of $2,126,945.46. Following the completion of the sale, the chief executive officer directly owned 202,512 shares in the company, valued at approximately $8,979,382.08. This represents a 19.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Rachel Hayden sold 752 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $43.57, for a total transaction of $32,764.64. Following the completion of the transaction, the executive vice president directly owned 14,918 shares of the company’s stock, valued at approximately $649,977.26. The trade was a 4.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,677 shares of company stock valued at $6,876,030. 4.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ScanSource

Institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in shares of ScanSource by 2.6% during the second quarter. Nisa Investment Advisors LLC now owns 10,145 shares of the industrial products company’s stock valued at $424,000 after acquiring an additional 259 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in ScanSource by 2.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 295 shares during the last quarter. GAMMA Investing LLC boosted its holdings in ScanSource by 25.5% in the first quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 395 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in ScanSource by 3.3% in the second quarter. State of Alaska Department of Revenue now owns 12,357 shares of the industrial products company’s stock worth $516,000 after purchasing an additional 395 shares during the last quarter. Finally, SummerHaven Investment Management LLC boosted its holdings in ScanSource by 2.4% in the second quarter. SummerHaven Investment Management LLC now owns 18,852 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 443 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

ScanSource Company Profile

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.