It Seems ScanSource, Inc. (SCSC) Will Go Down. Just Reaches 52 Week Low

December 7, 2017 - By Ellis Scott

Investors sentiment decreased to 1.03 in 2017 Q2. Its down 0.49, from 1.52 in 2017Q1. It worsened, as 23 investors sold ScanSource, Inc. shares while 51 reduced holdings. 22 funds opened positions while 54 raised stakes. 23.70 million shares or 2.62% less from 24.33 million shares in 2017Q1 were reported.
Capstone Asset Mngmt reported 11,376 shares or 0.01% of all its holdings. Wellington Mngmt Gp Llp owns 1.24M shares. Nj State Employees Deferred Compensation Plan holds 0.19% or 25,000 shares in its portfolio. Zebra Cap Ltd Liability Corp owns 25,698 shares or 0.32% of their US portfolio. Morgan Stanley reported 71,041 shares stake. Deutsche Commercial Bank Ag has 30,926 shares for 0% of their portfolio. Svcs Automobile Association reported 0.02% stake. Stevens Capital Mngmt Limited Partnership owns 0.01% invested in ScanSource, Inc. (NASDAQ:SCSC) for 9,892 shares. Profit Investment invested in 38,576 shares or 1.41% of the stock. Bessemer Gru has invested 0.01% in ScanSource, Inc. (NASDAQ:SCSC). Envestnet Asset Mngmt holds 0% of its portfolio in ScanSource, Inc. (NASDAQ:SCSC) for 2,176 shares. Public Sector Pension Invest Board has invested 0% of its portfolio in ScanSource, Inc. (NASDAQ:SCSC). Prudential accumulated 0.02% or 315,429 shares. 16,891 were reported by Ubs Asset Mngmt Americas Inc. Fmr Ltd Liability Company, Massachusetts-based fund reported 2.86M shares.

The stock of ScanSource, Inc. (NASDAQ:SCSC) hit a new 52-week low and has $33.30 target or 5.00 % below today’s $35.05 share price. The 8 months bearish chart indicates high risk for the $893.46 million company. The 1-year low was reported on Dec, 7 by Barchart.com. If the $33.30 price target is reached, the company will be worth $44.67M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 0.57% or $0.2 during the last trading session, reaching $35.05. About 105,455 shares traded or 37.63% up from the average. ScanSource, Inc. (NASDAQ:SCSC) has declined 0.87% since December 7, 2016 and is downtrending. It has underperformed by 17.57% the S&P500.

Analysts await ScanSource, Inc. (NASDAQ:SCSC) to report earnings on February, 6. They expect $0.79 earnings per share, up 5.33 % or $0.04 from last year’s $0.75 per share. SCSC’s profit will be $20.14 million for 11.09 P/E if the $0.79 EPS becomes a reality. After $0.76 actual earnings per share reported by ScanSource, Inc. for the previous quarter, Wall Street now forecasts 3.95 % EPS growth.

ScanSource, Inc. (NASDAQ:SCSC) Ratings Coverage

Among 2 analysts covering ScanSource (NASDAQ:SCSC), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. ScanSource had 3 analyst reports since August 12, 2015 according to SRatingsIntel. The company was upgraded on Wednesday, August 12 by Zacks. The stock has “Buy” rating by Northcoast on Wednesday, December 23. The firm has “Outperform” rating by Raymond James given on Tuesday, August 30.

More news for ScanSource, Inc. (NASDAQ:SCSC) were recently published by: Nasdaq.com, which released: “ScanSource Inc. Reports 11% Increase In Q1 Profit” on November 06, 2017. Businesswire.com‘s article titled: “ScanSource Awarded 2017 National Distributor of the Year by Axis Communications” and published on November 28, 2017 is yet another important article.

ScanSource, Inc. distributes technology products and solutions in North America, Latin America, and Europe. The company has market cap of $893.46 million. The companyÂ’s Worldwide Barcode, Networking & Security segment focuses on automatic identification and data capture , point-of-sale (POS), networking, electronic physical security, 3D printing, and other specialty technologies. It has a 12.93 P/E ratio. The Company’s AIDC and POS products are used to automate the collection, processing, and communication of information for commercial and industrial applications, such as retail sales, distribution, shipping, inventory control, materials handling, warehouse management, and health care applications; electronic physical security products, including identification, access control, video surveillance, intrusion-related, wireless, and networking infrastructure products; and 3D printing solutions to replace and complement traditional methods, as well as reduce the time and cost of designing new products.

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