Shares of ScanSource, Inc. (NASDAQ:SCSC – Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $53.41 and last traded at $53.31, with a volume of 75616 shares trading hands. The stock had previously closed at $51.63.
Analyst Ratings Changes
Several research analysts recently issued reports on SCSC shares. Zacks Research raised shares of ScanSource from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings raised ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Finally, Wall Street Zen upgraded ScanSource from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.00.
View Our Latest Research Report on SCSC
ScanSource Stock Up 3.3%
ScanSource (NASDAQ:SCSC – Get Free Report) last posted its earnings results on Thursday, May 7th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.03. The firm had revenue of $758.59 million during the quarter, compared to analysts’ expectations of $738.55 million. ScanSource had a net margin of 2.38% and a return on equity of 9.35%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. On average, equities analysts forecast that ScanSource, Inc. will post 3.9 EPS for the current year.
Hedge Funds Weigh In On ScanSource
A number of large investors have recently bought and sold shares of SCSC. Vanguard Group Inc. grew its holdings in ScanSource by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 2,827,007 shares of the industrial products company’s stock valued at $110,423,000 after purchasing an additional 78,993 shares during the period. Wasatch Advisors LP lifted its position in shares of ScanSource by 34.9% during the 3rd quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company’s stock valued at $50,130,000 after buying an additional 294,624 shares in the last quarter. Pzena Investment Management LLC grew its stake in ScanSource by 0.6% in the 1st quarter. Pzena Investment Management LLC now owns 913,239 shares of the industrial products company’s stock valued at $33,151,000 after acquiring an additional 5,783 shares during the period. LSV Asset Management grew its stake in ScanSource by 40.6% in the 4th quarter. LSV Asset Management now owns 847,863 shares of the industrial products company’s stock valued at $33,118,000 after acquiring an additional 244,903 shares during the period. Finally, Geode Capital Management LLC increased its holdings in ScanSource by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 562,109 shares of the industrial products company’s stock worth $21,960,000 after acquiring an additional 13,318 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.
ScanSource Company Profile
ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.
Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.
Read More
- Five stocks we like better than ScanSource
- PriceSmart Stock Eyes $220 as Chile Expansion Fuels Growth
- Dollar Tree’s Turnaround Is Starting to Take Root
- Why Levi’s Digital Strategy Is Paying Off in a Big Way
- Constellation Brands: Beer Growth and Buybacks Mask Stock’s Slump
Receive News & Ratings for ScanSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ScanSource and related companies with MarketBeat.com's FREE daily email newsletter.
