PCM Inc (PCMI) Receives Consensus Recommendation of “Buy” from Analysts

PCM Inc (NASDAQ:PCMI) has been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $21.33.

Several brokerages have recently issued reports on PCMI. Zacks Investment Research upgraded shares of PCM from a “hold” rating to a “strong-buy” rating and set a $24.00 price target for the company in a research note on Wednesday, August 1st. BidaskClub lowered shares of PCM from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 7th. ValuEngine upgraded shares of PCM from a “hold” rating to a “buy” rating in a research note on Saturday, July 28th. TheStreet upgraded shares of PCM from a “d+” rating to a “c” rating in a research note on Thursday, July 26th. Finally, B. Riley raised their price target on shares of PCM to $25.00 in a research note on Thursday, July 26th.

In related news, insider Simon M. Abuyounes sold 9,389 shares of PCM stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $23.64, for a total value of $221,955.96. Following the completion of the transaction, the insider now directly owns 58,046 shares in the company, valued at approximately $1,372,207.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Simon M. Abuyounes sold 42,869 shares of PCM stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $23.45, for a total transaction of $1,005,278.05. Following the completion of the transaction, the insider now owns 58,046 shares of the company’s stock, valued at $1,361,178.70. The disclosure for this sale can be found here. Insiders sold a total of 152,860 shares of company stock valued at $3,499,092 over the last quarter. 26.80% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in PCMI. Bank of America Corp DE grew its stake in PCM by 919.3% in the 2nd quarter. Bank of America Corp DE now owns 7,798 shares of the specialty retailer’s stock valued at $118,000 after buying an additional 7,033 shares in the last quarter. GSA Capital Partners LLP grew its stake in PCM by 49.9% in the 1st quarter. GSA Capital Partners LLP now owns 21,038 shares of the specialty retailer’s stock valued at $175,000 after buying an additional 7,000 shares in the last quarter. Laurion Capital Management LP purchased a new position in PCM in the 2nd quarter valued at approximately $187,000. California Public Employees Retirement System grew its stake in PCM by 137.7% in the 1st quarter. California Public Employees Retirement System now owns 33,005 shares of the specialty retailer’s stock valued at $274,000 after buying an additional 19,122 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in PCM by 1,564.3% in the 1st quarter. JPMorgan Chase & Co. now owns 40,826 shares of the specialty retailer’s stock valued at $339,000 after buying an additional 38,373 shares in the last quarter. Institutional investors and hedge funds own 50.29% of the company’s stock.

Shares of PCMI stock traded down $0.40 during trading hours on Friday, hitting $21.45. 60,400 shares of the company were exchanged, compared to its average volume of 167,515. The company has a quick ratio of 0.89, a current ratio of 1.01 and a debt-to-equity ratio of 0.22. PCM has a 52-week low of $6.90 and a 52-week high of $25.23. The firm has a market cap of $254.42 million, a P/E ratio of 19.86, a PEG ratio of 0.53 and a beta of 0.81.

PCM (NASDAQ:PCMI) last issued its quarterly earnings results on Wednesday, July 25th. The specialty retailer reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.26. PCM had a net margin of 0.33% and a return on equity of 13.96%. The company had revenue of $546.43 million during the quarter, compared to analyst estimates of $569.98 million. equities analysts expect that PCM will post 2.02 EPS for the current year.

PCM Company Profile

PCM, Inc, through its subsidiaries, operates as a multi-vendor provider of technology products and solutions in the United States and the rest of Europe. The company operates through four segments: Commercial, Public Sector, Canada, and United Kingdom. It primarily sells device products, servers, storage products, network products, printers, and related accessories and devices.

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