The Zacks: Analysts Set $21.25 Target Price for PCM Inc. (PCMI)

The Zacks: Analysts Set $21.25 Target Price for PCM Inc. (PCMI)

Shares of PCM Inc. (NASDAQ:PCMI) have received an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company. PCM’s rating score has declined by 100% from three months ago as a result of various analysts’ ratings changes.

Brokers have set a twelve-month consensus price objective of $21.25 for the company and are expecting that the company will post $0.31 EPS for the current quarter, according to Zacks. Zacks has also assigned PCM an industry rank of 165 out of 265 based on the ratings given to related companies.

Several equities research analysts have weighed in on the company. B. Riley reaffirmed a “buy” rating and issued a $22.00 target price on shares of PCM in a research report on Tuesday, September 27th. Roth Capital lowered PCM from a “buy” rating to a “neutral” rating in a research report on Thursday, August 25th. Finally, Zacks Investment Research raised PCM from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research note on Saturday, July 30th.

PCM (NASDAQ:PCMI) opened at 21.48 on Tuesday. PCM has a 1-year low of $7.48 and a 1-year high of $23.28. The firm’s market cap is $250.71 million. The stock’s 50 day moving average price is $19.55 and its 200 day moving average price is $13.51.

PCM (NASDAQ:PCMI) last issued its earnings results on Wednesday, July 27th. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.29. PCM had a positive return on equity of 10.27% and a negative net margin of 0.38%. The firm had revenue of $581 million for the quarter, compared to analyst estimates of $478.87 million. Equities research analysts predict that PCM will post $1.57 EPS for the current year.

In other PCM news, CFO Brandon H. Laverne sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $16.99, for a total value of $509,700.00. Following the sale, the chief financial officer now owns 12,879 shares of the company’s stock, valued at approximately $218,814.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas A. Maloof sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $22.00, for a total value of $55,000.00. Following the completion of the sale, the director now directly owns 60,500 shares in the company, valued at approximately $1,331,000. The disclosure for this sale can be found here. Insiders own 30.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in PCMI. Stifel Financial Corp acquired a new stake in PCM during the second quarter worth about $3,788,000. Algert Global LLC acquired a new stake in PCM during the third quarter worth about $2,049,000. Mork Capital Management LLC acquired a new stake in PCM during the second quarter worth about $557,000. Royce & Associates LP raised its stake in PCM by 4.0% in the second quarter. Royce & Associates LP now owns 1,065,356 shares of the company’s stock worth $11,868,000 after buying an additional 40,668 shares during the period. Finally, Renaissance Technologies LLC raised its stake in PCM by 29.8% in the first quarter. Renaissance Technologies LLC now owns 128,200 shares of the company’s stock worth $1,028,000 after buying an additional 29,400 shares during the period. 34.72% of the stock is currently owned by hedge funds and other institutional investors.

About PCM

PCM, Inc is engaged in providing technology products, services and solutions through direct marketing channels, and owned and operated data centers. The Company offers technology products, solutions and other consumer products. Its segments include Commercial, Public Sector, MacMall, Canada, and Corporate & Other.

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