ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $53.48 and last traded at $53.01, with a volume of 18644 shares trading hands. The stock had previously closed at $50.41.
Analyst Ratings Changes
Separately, Raymond James lowered ScanSource from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 15th.
View Our Latest Analysis on SCSC
ScanSource Trading Up 0.7 %
The stock has a market capitalization of $1.22 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.37 and a beta of 1.42. The company has a current ratio of 2.10, a quick ratio of 1.33 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $47.15 and a 200-day moving average price of $46.71.
ScanSource (NASDAQ:SCSC - Get Free Report) last released its earnings results on Tuesday, August 27th. The industrial products company reported $0.80 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.13). The business had revenue of $746.11 million for the quarter, compared to the consensus estimate of $838.60 million. ScanSource had a return on equity of 8.32% and a net margin of 2.36%. The company's revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 earnings per share. As a group, equities analysts forecast that ScanSource, Inc. will post 3.24 EPS for the current fiscal year.
Institutional Investors Weigh In On ScanSource
A number of hedge funds have recently made changes to their positions in the business. Gladius Capital Management LP purchased a new stake in ScanSource in the 3rd quarter worth about $30,000. CWM LLC increased its holdings in ScanSource by 164.1% in the 2nd quarter. CWM LLC now owns 647 shares of the industrial products company's stock worth $29,000 after acquiring an additional 402 shares during the last quarter. nVerses Capital LLC purchased a new stake in ScanSource in the 2nd quarter worth about $40,000. Quest Partners LLC purchased a new stake in ScanSource in the 2nd quarter worth about $41,000. Finally, KBC Group NV increased its holdings in ScanSource by 59.9% in the 3rd quarter. KBC Group NV now owns 1,182 shares of the industrial products company's stock worth $57,000 after acquiring an additional 443 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.
About ScanSource
(
Get Free Report)
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.
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