ScanSource (NASDAQ:SCSC) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of ScanSource (NASDAQ:SCSC) from a strong-buy rating to a buy rating in a report released on Friday.

SCSC has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of ScanSource in a report on Saturday, September 27th. Zacks Research upgraded shares of ScanSource from a “hold” rating to a “strong-buy” rating in a report on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $42.00.

ScanSource Stock Performance

NASDAQ:SCSC opened at $44.11 on Friday. The stock’s 50-day moving average is $43.03 and its 200-day moving average is $39.67. The stock has a market cap of $965.57 million, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. ScanSource has a 1-year low of $28.75 and a 1-year high of $53.90. The company has a current ratio of 2.01, a quick ratio of 1.30 and a debt-to-equity ratio of 0.14.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, August 21st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. The business had revenue of $812.89 million during the quarter, compared to analyst estimates of $776.21 million. ScanSource had a net margin of 2.35% and a return on equity of 9.38%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business earned $0.80 EPS. ScanSource has set its FY 2026 guidance at EPS. Equities research analysts anticipate that ScanSource will post 3.33 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Michael L. Baur sold 102,031 shares of ScanSource stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $44.96, for a total value of $4,587,313.76. Following the transaction, the chief executive officer directly owned 227,512 shares of the company’s stock, valued at $10,228,939.52. The trade was a 30.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rachel Hayden sold 1,080 shares of ScanSource stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $44.69, for a total value of $48,265.20. Following the completion of the sale, the executive vice president owned 11,688 shares of the company’s stock, valued at approximately $522,336.72. The trade was a 8.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,677 shares of company stock worth $6,876,030. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On ScanSource

Hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new stake in ScanSource in the second quarter worth approximately $25,000. Versant Capital Management Inc increased its holdings in ScanSource by 88.4% in the first quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 405 shares in the last quarter. GAMMA Investing LLC increased its holdings in ScanSource by 25.5% in the first quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 395 shares in the last quarter. Osaic Holdings Inc. increased its holdings in ScanSource by 400.5% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Quarry LP increased its holdings in ScanSource by 344.3% in the first quarter. Quarry LP now owns 3,541 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 2,744 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

ScanSource Company Profile

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.