PCM (PCMI) Raised to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of PCM (NASDAQ:PCMI) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $20.00 price objective on the specialty retailer’s stock.

According to Zacks, “PCM Inc. is a technology solutions provider to businesses, government and educational institutions and individual consumers. The Company’s operating segments consists of Commercial, Public Sector and MacMall. It offers technology products and solutions as well as consumer electronics equipment and other consumer products. PCM Inc., formerly known as PC Mall, Inc., is headquartered in El Segundo, California. “

Other research analysts have also issued reports about the company. B. Riley increased their target price on PCM to $25.00 in a research report on Thursday, July 26th. BidaskClub lowered PCM from a strong-buy rating to a buy rating in a research report on Friday, September 7th. ValuEngine raised PCM from a hold rating to a buy rating in a research report on Saturday, July 28th. Finally, TheStreet raised PCM from a d+ rating to a c rating in a research report on Thursday, July 26th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $20.67.

Shares of PCMI traded down $0.46 during trading hours on Wednesday, hitting $18.89. The stock had a trading volume of 108,604 shares, compared to its average volume of 109,866. The company has a current ratio of 1.01, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $225.40 million, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 0.46 and a beta of 0.80. PCM has a 12-month low of $6.90 and a 12-month high of $25.23.

PCM (NASDAQ:PCMI) last issued its earnings results on Wednesday, October 24th. The specialty retailer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.11. The business had revenue of $510.58 million for the quarter, compared to analyst estimates of $555.46 million. PCM had a return on equity of 16.60% and a net margin of 0.65%. Sell-side analysts predict that PCM will post 2.07 earnings per share for the current year.

In other PCM news, insider Simon M. Abuyounes sold 42,869 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $23.45, for a total value of $1,005,278.05. Following the transaction, the insider now directly owns 58,046 shares of the company’s stock, valued at $1,361,178.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Simon M. Abuyounes sold 19,699 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $22.29, for a total value of $439,090.71. Following the completion of the transaction, the insider now directly owns 59,463 shares in the company, valued at $1,325,430.27. The disclosure for this sale can be found here. Insiders sold 147,860 shares of company stock worth $3,381,142 over the last three months. 26.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in PCMI. Bank of America Corp DE raised its position in PCM by 919.3% in the second quarter. Bank of America Corp DE now owns 7,798 shares of the specialty retailer’s stock valued at $118,000 after purchasing an additional 7,033 shares during the period. Laurion Capital Management LP purchased a new position in PCM in the second quarter valued at about $187,000. First Trust Advisors LP purchased a new position in PCM in the third quarter valued at about $252,000. California Public Employees Retirement System raised its position in PCM by 137.7% in the first quarter. California Public Employees Retirement System now owns 33,005 shares of the specialty retailer’s stock valued at $274,000 after purchasing an additional 19,122 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of PCM during the third quarter valued at about $287,000. 50.31% of the stock is currently owned by institutional investors.

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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