ScanSource (NASDAQ:SCSC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

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 firms have also issued reports on SCSC. ValuEngine lowered ScanSource from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. TheStreet lowered ScanSource from a “b-” rating to a “c+” rating in a research report on Friday, May 17th. BidaskClub upgraded ScanSource from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Northcoast Research lowered ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $44.50.

Shares of NASDAQ SCSC opened at $31.93 on Wednesday. The firm’s 50-day moving average price is $32.40. The company has a current ratio of 2.06, a quick ratio of 0.99 and a debt-to-equity ratio of 0.38. ScanSource has a 1-year low of $28.55 and a 1-year high of $44.30. The stock has a market cap of $814.18 million, a PE ratio of 10.27 and a beta of 0.95.

Institutional investors and hedge funds have recently bought and sold shares of the stock. GYL Financial Synergies LLC bought a new position in ScanSource during the 1st quarter worth approximately $892,000. Foundry Partners LLC grew its position in shares of ScanSource by 9.0% in the 1st quarter. Foundry Partners LLC now owns 165,267 shares of the industrial products company’s stock worth $5,920,000 after buying an additional 13,633 shares during the last quarter. Texas Permanent School Fund grew its position in shares of ScanSource by 4.1% in the 1st quarter. Texas Permanent School Fund now owns 17,451 shares of the industrial products company’s stock worth $625,000 after buying an additional 693 shares during the last quarter. Deutsche Bank AG grew its position in shares of ScanSource by 24.5% in the 4th quarter. Deutsche Bank AG now owns 71,512 shares of the industrial products company’s stock worth $2,457,000 after buying an additional 14,058 shares during the last quarter. Finally, New Amsterdam Partners LLC NY bought a new stake in shares of ScanSource in the 1st quarter worth approximately $2,593,000. Institutional investors and hedge funds own 94.92% of the company’s stock.

About ScanSource

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).

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