ScanSource (NASDAQ:SCSC) Reaches New 12-Month High – Should You Buy?

ScanSource, Inc. (NASDAQ:SCSC)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $53.99 and last traded at $53.99, with a volume of 278 shares trading hands. The stock had previously closed at $52.80.

Wall Street Analyst Weigh In

Separately, Raymond James lowered ScanSource from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 15th.

ScanSource Stock Down 0.4 %

The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.25 billion, a PE ratio of 16.92, a P/E/G ratio of 1.44 and a beta of 1.44. The business has a 50 day moving average price of $48.19 and a 200 day moving average price of $47.45.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The company had revenue of $775.58 million for the quarter, compared to the consensus estimate of $774.90 million. During the same quarter in the prior year, the business posted $0.74 earnings per share. ScanSource’s revenue for the quarter was down 11.5% on a year-over-year basis. Equities research analysts expect that ScanSource, Inc. will post 3.51 EPS for the current fiscal year.

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 8,312 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $48.98, for a total transaction of $407,121.76. Following the completion of the transaction, the chief executive officer now owns 177,760 shares of the company’s stock, valued at $8,706,684.80. This represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 53,010 shares of company stock valued at $2,611,843 over the last quarter. 4.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ScanSource

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its position in shares of ScanSource by 9.9% during the third quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company’s stock worth $1,093,000 after buying an additional 2,026 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of ScanSource during the third quarter worth $499,000. Barclays PLC boosted its position in shares of ScanSource by 97.9% during the third quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock worth $2,610,000 after buying an additional 26,881 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of ScanSource by 42.4% during the third quarter. Public Employees Retirement System of Ohio now owns 16,047 shares of the industrial products company’s stock worth $771,000 after buying an additional 4,780 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of ScanSource by 6.2% during the third quarter. Jane Street Group LLC now owns 56,980 shares of the industrial products company’s stock worth $2,737,000 after buying an additional 3,307 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

About ScanSource

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.