Zacks Investment Research lowered shares of ScanSource (NASDAQ:SCSC) from a hold rating to a sell rating in a research note published on Thursday morning, 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. “

SCSC has been the subject of a number of other reports. BidaskClub cut ScanSource from a hold rating to a sell rating in a report on Friday, March 1st. Northcoast Research cut ScanSource from a buy rating to a neutral rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $44.50.

Shares of SCSC traded down $3.40 during midday trading on Thursday, reaching $31.92. The stock had a trading volume of 270,361 shares, compared to its average volume of 110,727. ScanSource has a 12-month low of $31.76 and a 12-month high of $44.30. The company has a current ratio of 2.03, a quick ratio of 1.07 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $913.45 million, a P/E ratio of 10.26 and a beta of 0.72.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, May 9th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). ScanSource had a return on equity of 9.73% and a net margin of 1.42%. The firm had revenue of $893.40 million during the quarter, compared to analysts’ expectations of $931.63 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. ScanSource’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts predict that ScanSource will post 3.58 EPS for the current year.

In related news, CEO Michael L. Baur sold 10,604 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $37.38, for a total transaction of $396,377.52. Following the completion of the sale, the chief executive officer now directly owns 47,678 shares in the company, valued at approximately $1,782,203.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.56% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Mason Street Advisors LLC boosted its holdings in ScanSource by 3.8% during the 1st quarter. Mason Street Advisors LLC now owns 8,254 shares of the industrial products company’s stock valued at $296,000 after acquiring an additional 301 shares during the period. PNC Financial Services Group Inc. boosted its holdings in ScanSource by 32.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,270 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 313 shares during the period. Piedmont Investment Advisors Inc. boosted its holdings in ScanSource by 5.9% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 6,447 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 361 shares during the period. Victory Capital Management Inc. raised its position in ScanSource by 1.0% during the 4th quarter. Victory Capital Management Inc. now owns 39,031 shares of the industrial products company’s stock valued at $1,342,000 after purchasing an additional 404 shares during the last quarter. Finally, Strs Ohio raised its position in ScanSource by 2.4% during the 1st quarter. Strs Ohio now owns 21,200 shares of the industrial products company’s stock valued at $759,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 97.89% 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).

See Also: Net Income

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