PCM Inc (NASDAQ:PCMI) Receives $35.00 Consensus Target Price from Analysts

PCM Inc (NASDAQ:PCMI) has received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $35.00.

PCMI has been the subject of a number of recent research reports. ValuEngine downgraded shares of PCM from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Zacks Investment Research downgraded shares of PCM from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 27th. Roth Capital downgraded shares of PCM from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $36.00 to $35.00 in a research note on Tuesday, June 25th. Finally, BidaskClub raised shares of PCM from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. OMERS ADMINISTRATION Corp bought a new stake in PCM in the second quarter valued at approximately $1,928,000. ARP Americas LP bought a new stake in PCM in the second quarter valued at approximately $2,959,000. Polar Asset Management Partners Inc. bought a new stake in PCM in the second quarter valued at approximately $1,291,000. Grantham Mayo Van Otterloo & Co. LLC increased its stake in PCM by 288.4% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 50,100 shares of the specialty retailer’s stock valued at $1,756,000 after purchasing an additional 37,200 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in PCM by 393.8% in the second quarter. Citadel Advisors LLC now owns 55,032 shares of the specialty retailer’s stock valued at $1,928,000 after purchasing an additional 43,887 shares in the last quarter. 58.36% of the stock is owned by institutional investors and hedge funds.

Shares of PCMI remained flat at $$35.01 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $431.67 million, a price-to-earnings ratio of 16.06 and a beta of 1.35. The firm has a 50 day moving average of $35.01 and a two-hundred day moving average of $32.42. PCM has a 12 month low of $14.80 and a 12 month high of $39.69.

PCM (NASDAQ:PCMI) last posted its quarterly earnings results on Thursday, August 8th. The specialty retailer reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. The business had revenue of $548.33 million during the quarter, compared to the consensus estimate of $550.89 million. PCM had a net margin of 1.16% and a return on equity of 19.12%.

About PCM

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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