ScanSource (NASDAQ:SCSC) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of ScanSource (NASDAQ:SCSC) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other brokerages also recently commented on SCSC. Zacks Research downgraded shares of ScanSource from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of ScanSource in a research note on Wednesday. Finally, Barclays initiated coverage on shares of ScanSource in a report on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 price target on the stock. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.50.

ScanSource Stock Performance

ScanSource stock opened at $39.51 on Friday. ScanSource has a twelve month low of $28.75 and a twelve month high of $53.90. The company has a quick ratio of 1.30, a current ratio of 2.01 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $866.97 million, a P/E ratio of 13.13, a PEG ratio of 0.71 and a beta of 1.37. The stock’s 50 day moving average is $42.22 and its 200 day moving average is $41.81.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, November 6th. The industrial products company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.91 by $0.15. ScanSource had a return on equity of 9.38% and a net margin of 2.35%.The business had revenue of $739.65 million for the quarter, compared to the consensus estimate of $787.37 million. During the same period in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. ScanSource has set its FY 2026 guidance at EPS. On average, equities research analysts predict that ScanSource will post 3.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael L. Baur sold 102,031 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $44.96, for a total value of $4,587,313.76. Following the sale, the chief executive officer owned 227,512 shares in the company, valued at approximately $10,228,939.52. This trade represents a 30.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Rachel Hayden sold 1,080 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $44.69, for a total transaction of $48,265.20. Following the sale, the executive vice president owned 11,688 shares of the company’s stock, valued at approximately $522,336.72. This represents a 8.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 153,677 shares of company stock worth $6,876,030. 3.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SCSC. Canada Pension Plan Investment Board purchased a new stake in shares of ScanSource during the 2nd quarter valued at about $25,000. CWM LLC boosted its holdings in shares of ScanSource by 159.6% in the third quarter. CWM LLC now owns 1,874 shares of the industrial products company’s stock worth $82,000 after buying an additional 1,152 shares during the last quarter. Osaic Holdings Inc. grew its position in ScanSource by 400.5% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock valued at $87,000 after buying an additional 1,670 shares during the period. Quarry LP increased its holdings in ScanSource by 344.3% during the first quarter. Quarry LP now owns 3,541 shares of the industrial products company’s stock valued at $120,000 after buying an additional 2,744 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in ScanSource by 22.3% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,879 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 524 shares during the period. 97.91% of the stock is owned by hedge funds and other 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.