PC Connection, Inc. (CNXN) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of PC Connection, Inc. (NASDAQ:CNXN) from a hold rating to a buy rating in a report issued on Monday, July 31st. Zacks Investment Research currently has $29.00 target price on the stock.

According to Zacks, “PC Connection, Inc. is a direct marketer of brand-name personal computers and related peripherals, software, and networking products to business, education, government, and consumer end users located primarily in the United States. “

Separately, Roth Capital set a $33.00 price target on PC Connection and gave the stock a buy rating in a research report on Friday, July 28th.

PC Connection (NASDAQ CNXN) traded down 0.08% on Monday, hitting $25.68. 40,503 shares of the company’s stock traded hands. The stock has a market cap of $687.81 million, a P/E ratio of 14.52 and a beta of 1.63. The stock has a 50 day moving average price of $26.41 and a 200-day moving average price of $27.36. PC Connection has a 12 month low of $22.31 and a 12 month high of $30.48.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. PC Connection had a return on equity of 11.39% and a net margin of 1.66%. The business had revenue of $749.79 million for the quarter, compared to the consensus estimate of $733.18 million. During the same quarter in the prior year, the company earned $0.49 EPS. The business’s revenue was up 10.9% compared to the same quarter last year. Equities analysts predict that PC Connection will post $1.96 earnings per share for the current fiscal year.

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Large investors have recently modified their holdings of the stock. Legal & General Group Plc bought a new stake in shares of PC Connection during the first quarter worth $102,000. Dubuque Bank & Trust Co. bought a new stake in shares of PC Connection during the first quarter worth $104,000. Acadian Asset Management LLC bought a new stake in shares of PC Connection during the first quarter worth $173,000. Victory Capital Management Inc. bought a new stake in shares of PC Connection during the first quarter worth $175,000. Finally, First Quadrant L P CA bought a new stake in shares of PC Connection during the first quarter worth $185,000. 41.22% of the stock is currently owned by institutional investors.

PC Connection Company Profile

PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.

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