ScanSource (NASDAQ:SCSC) Cut to “Neutral” at Northcoast Research

Northcoast Research lowered shares of ScanSource (NASDAQ:SCSC) from a buy rating to a neutral rating in a research report report published on Monday morning, Marketbeat.com reports.

Several other analysts have also commented on the stock. Wall Street Zen raised shares of ScanSource from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $43.00.

ScanSource Price Performance

Shares of NASDAQ:SCSC opened at $51.42 on Monday. The company has a market capitalization of $1.05 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 0.81 and a beta of 1.28. The company’s 50-day moving average is $52.91 and its 200 day moving average is $44.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.20 and a current ratio of 1.86. ScanSource has a fifty-two week low of $33.76 and a fifty-two week high of $59.60.

Hedge Funds Weigh In On ScanSource

Several large investors have recently modified their holdings of SCSC. Canada Pension Plan Investment Board bought a new stake in shares of ScanSource in the second quarter valued at approximately $25,000. Royal Bank of Canada boosted its holdings in ScanSource by 165.0% in the 4th quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock worth $73,000 after buying an additional 1,168 shares during the period. Osaic Holdings Inc. boosted its holdings in ScanSource by 400.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after buying an additional 1,670 shares during the period. Freestone Grove Partners LP purchased a new position in ScanSource in the 2nd quarter valued at approximately $119,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in ScanSource in the 2nd quarter valued at approximately $134,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

ScanSource Company Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.