ScanSource (SCSC) is Upgraded by Northcoast to Buy

ScanSource (SCSC) is Upgraded by Northcoast to Buy , according to the research report released to the investors. Earlier the firm had a rating of Neutral on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-23-2015.

Shares of ScanSource, Inc. (NASDAQ:SCSC) ended Thursday session in red amid volatile trading. The shares closed down 0.24 points or 0.71% at $33.66 with 226,449 shares getting traded. Post opening the session at $34.01, the shares hit an intraday low of $33.36 and an intraday high of $34.14 and the price vacillated in this range throughout the day. The company has a market cap of $901 million and the number of outstanding shares has been calculated to be 26,764,496 shares. The 52-week high of ScanSource, Inc. (NASDAQ:SCSC) is $41.95 and the 52-week low is $29.53.

Research firm Zacks has rated ScanSource, Inc. (NASDAQ:SCSC) and has ranked it at 1, indicating that for the short term the shares are a strong buy. 3 Wall Street analysts have given the company an average rating of 2.67. The shares has received a hold rating based on the suggestion from 2 analysts in latest recommendations. The company had a buy rating from 1 analysts.

ScanSource, Inc. has lost 7.07% in the last five trading days and dropped 9.22% in the last 4 weeks. ScanSource, Inc. has dropped 5.34% during the last 3-month period . Year-to-Date the stock performance stands at -16.19%.

ScanSource, Inc. is a wholesale distributor of specialty technology products, providing distribution sales to resellers in the specialty technology markets. The Company operates in two geographic distribution segments: North American distribution and international distribution. The North American distribution segment sells products through four sales units: automated identification and data capture (AIDC) and point-of-sale (POS) equipment sold by the Scan Source POS and Barcoding sales unit; voice, data, video and converged communications equipment sold by the, Catalyst Telecom, Scan Source Communications sales units, and physical security and wireless infrastructure products sold by the Scan Source Security sales unit. The international distribution segment markets AIDC, POS, communications and security products through its Scan Source Latin America sales unit. On April 15, 2011, it acquired CDC Brasil S.A.