PCM, Inc. (PCMI) Given Consensus Recommendation of “Hold” by Analysts
PCM, Inc. (NASDAQ:PCMI) has received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $28.23.
A number of equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of PCM from a “hold” rating to a “buy” rating in a report on Saturday, July 15th. B. Riley reiterated a “buy” rating and issued a $33.00 price objective on shares of PCM in a report on Tuesday, July 25th. Zacks Investment Research cut shares of PCM from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, ValuEngine cut shares of PCM from a “buy” rating to a “hold” rating in a report on Friday, September 1st.
A number of hedge funds have recently added to or reduced their stakes in PCMI. Paradigm Capital Management Inc. NY boosted its holdings in PCM by 370.9% during the second quarter. Paradigm Capital Management Inc. NY now owns 687,500 shares of the specialty retailer’s stock valued at $12,890,000 after acquiring an additional 541,500 shares during the period. Spark Investment Management LLC bought a new stake in PCM during the second quarter valued at about $2,253,000. State Street Corp bought a new stake in PCM during the second quarter valued at about $2,176,000. Renaissance Technologies LLC boosted its holdings in PCM by 29.0% during the first quarter. Renaissance Technologies LLC now owns 487,600 shares of the specialty retailer’s stock valued at $13,677,000 after acquiring an additional 109,600 shares during the period. Finally, Northern Trust Corp boosted its holdings in PCM by 350.4% during the second quarter. Northern Trust Corp now owns 119,510 shares of the specialty retailer’s stock valued at $2,241,000 after acquiring an additional 92,978 shares during the period. Institutional investors own 62.58% of the company’s stock.
PCM (PCMI) traded down 0.79% on Tuesday, reaching $12.55. The company’s stock had a trading volume of 122,111 shares. The stock has a 50 day moving average price of $13.57 and a 200-day moving average price of $20.78. The company has a market capitalization of $158.05 million, a price-to-earnings ratio of 10.05 and a beta of 0.87. PCM has a 1-year low of $11.80 and a 1-year high of $31.20.
PCM (NASDAQ:PCMI) last issued its quarterly earnings data on Wednesday, July 26th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.02. The business had revenue of $560.11 million during the quarter, compared to the consensus estimate of $595.74 million. PCM had a return on equity of 17.32% and a net margin of 0.73%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. Equities analysts predict that PCM will post $2.00 earnings per share for the current fiscal year.
PCM announced that its Board of Directors has initiated a share buyback program on Wednesday, August 9th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the specialty retailer to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
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PCM Company Profile
PCM, Inc is a multi-vendor provider of technology solutions, including hardware products, software and services, offered through its dedicated sales force, field and internal service teams, direct marketing channels, and owned and operated data centers. The Company’s segments include Commercial, Public Sector and Canada.
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