ScanSource, Inc. (NASDAQ:SCSC) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 409,800 shares, a decrease of 8.9% from the August 30th total of 450,000 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 133,600 shares, the days-to-cover ratio is currently 3.1 days.

Institutional investors have recently made changes to their positions in the company. Advisor Group Inc. raised its position in shares of ScanSource by 74.9% during the second quarter. Advisor Group Inc. now owns 782 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 335 shares during the period. Tower Research Capital LLC TRC raised its position in shares of ScanSource by 1,067.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,214 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,110 shares during the period. Capital Investment Advisory Services LLC acquired a new stake in shares of ScanSource during the second quarter worth $370,000. Commonwealth Equity Services LLC acquired a new stake in shares of ScanSource during the second quarter worth $409,000. Finally, HGK Asset Management Inc. raised its position in shares of ScanSource by 19.3% during the second quarter. HGK Asset Management Inc. now owns 12,980 shares of the industrial products company’s stock worth $423,000 after purchasing an additional 2,102 shares during the period. 96.55% of the stock is currently owned by institutional investors.

Shares of ScanSource stock traded up $0.42 on Wednesday, reaching $30.22. 118,250 shares of the company were exchanged, compared to its average volume of 122,990. The stock has a fifty day moving average price of $29.58 and a 200-day moving average price of $32.32. The firm has a market capitalization of $737.04 million, a price-to-earnings ratio of 8.99 and a beta of 0.97. The company has a current ratio of 2.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. ScanSource has a fifty-two week low of $26.84 and a fifty-two week high of $44.30.

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

SCSC has been the subject of several research analyst reports. ValuEngine upgraded ScanSource from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. BidaskClub lowered ScanSource from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research upgraded ScanSource from a “sell” rating to a “hold” rating in a report on Tuesday, August 20th. Finally, Raymond James cut their price objective on ScanSource from $44.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. ScanSource currently has an average rating of “Hold” and an average price target of $39.00.

ScanSource Company Profile

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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