ScanSource (NASDAQ:SCSC) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of ScanSource (NASDAQ:SCSC) from a buy rating to a hold rating in a research note published on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Zacks Research cut shares of ScanSource from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of ScanSource in a research report on Wednesday, October 8th. Finally, Barclays began coverage on ScanSource in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 price objective for the company. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.50.

ScanSource Trading Down 1.4%

NASDAQ SCSC opened at $40.60 on Friday. The firm has a market cap of $895.92 million, a PE ratio of 13.49, a price-to-earnings-growth ratio of 0.71 and a beta of 1.37. ScanSource has a 1-year low of $28.75 and a 1-year high of $53.90. The stock has a 50-day moving average of $43.10 and a 200-day moving average of $41.36. The company has a current ratio of 2.01, a quick ratio of 1.30 and a debt-to-equity ratio of 0.14.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, November 6th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.15. The business had revenue of $739.65 million for the quarter, compared to analyst estimates of $787.37 million. ScanSource had a net margin of 2.35% and a return on equity of 9.38%. The company’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. ScanSource has set its FY 2026 guidance at EPS. As a group, sell-side analysts forecast that ScanSource will post 3.33 EPS for the current year.

Insider Buying and Selling at ScanSource

In related news, EVP Rachel Hayden sold 752 shares of the company’s stock in a transaction on 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 sale, the executive vice president owned 14,918 shares in the company, valued at approximately $649,977.26. This represents a 4.80% decrease in their ownership of the stock. The transaction 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 47,969 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $44.34, for a total value of $2,126,945.46. Following the completion of the transaction, the chief executive officer directly owned 202,512 shares in the company, valued at $8,979,382.08. The trade was a 19.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 153,677 shares of company stock valued at $6,876,030 in the last ninety days. 3.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ScanSource

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. lifted its position in ScanSource by 4.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 5,454 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 250 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of ScanSource by 2.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,145 shares of the industrial products company’s stock valued at $424,000 after buying an additional 259 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ScanSource by 2.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock valued at $471,000 after buying an additional 295 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of ScanSource by 3.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 12,357 shares of the industrial products company’s stock valued at $516,000 after acquiring an additional 395 shares during the period. Finally, Bailard Inc. increased its holdings in ScanSource by 6.8% in the 3rd quarter. Bailard Inc. now owns 6,300 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 400 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other 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.