Markets

ScanSource (SCSC) Crumbles: Stock Falls by 6.7%

ScanSource, Inc. ( SCSC ) saw a big move last session, as the company's shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for SCSC, as the stock is now down 6% in the past one-month time frame.

This slump shouldn't be too much of a surprise to investors, as the industrial services company has seen 3 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

SCSC currently has a Zacks Rank #4 (Sell).

A better-ranked stock in the industrial services sector is Codexis, Inc. ( CDXS ), which currently carries a Zacks Rank #2 (Buy).

Is SCSC going up? Or down? Predict to see what others think: Up or Down

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

SCANSOURCE INC (SCSC): Free Stock Analysis Report

CODEXIS INC (CDXS): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

CDXS SCSC

Other Topics

Investing Stocks