ScanSource (NASDAQ:SCSC) had its price target trimmed by Raymond James from $44.00 to $36.00 in a research note released on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other analysts have also recently commented on the company. TheStreet cut ScanSource from a b- rating to a c+ rating in a research note on Friday, May 17th. BidaskClub raised ScanSource from a sell rating to a hold rating in a research note on Friday, July 26th. ValuEngine cut ScanSource from a hold rating to a sell rating in a research note on Friday, May 10th. Northcoast Research cut ScanSource from a buy rating to a neutral rating in a research note on Monday, May 6th. Finally, Zacks Investment Research raised ScanSource from a sell rating to a hold rating in a research note on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. ScanSource presently has an average rating of Hold and a consensus price target of $39.00.

Shares of SCSC stock opened at $29.81 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.11 and a quick ratio of 0.99. The stock has a market cap of $790.35 million, a PE ratio of 9.15 and a beta of 0.95. The stock has a 50-day moving average of $32.11 and a 200-day moving average of $34.53. ScanSource has a one year low of $28.40 and a one year high of $44.30.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Tuesday, August 20th. The industrial products company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.12). The company had revenue of $960.80 million during the quarter, compared to the consensus estimate of $999.63 million. ScanSource had a net margin of 1.49% and a return on equity of 9.60%. The business’s revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.77 earnings per share. As a group, research analysts anticipate that ScanSource will post 3.03 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GYL Financial Synergies LLC bought a new stake in ScanSource during the 1st quarter worth approximately $892,000. Foundry Partners LLC increased its stake in ScanSource by 9.0% during the 1st quarter. Foundry Partners LLC now owns 165,267 shares of the industrial products company’s stock worth $5,920,000 after purchasing an additional 13,633 shares in the last quarter. Texas Permanent School Fund increased its stake in ScanSource by 4.1% during the 1st quarter. Texas Permanent School Fund now owns 17,451 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 693 shares in the last quarter. Balter Liquid Alternatives LLC bought a new stake in ScanSource during the 2nd quarter worth approximately $1,649,000. Finally, Deutsche Bank AG increased its stake in ScanSource by 24.5% during the 4th quarter. Deutsche Bank AG now owns 71,512 shares of the industrial products company’s stock worth $2,457,000 after purchasing an additional 14,058 shares in the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

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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