Systemax (NYSE:SYX) was downgraded by Zacks Investment Research from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday, Zacks.com reports.
According to Zacks, "Systemax Inc. is a direct marketer of brand name and private label products, including personal desktop computers, notebook computers, computer related products, and industrial products, in North America and Europe. The Company assembles its own PCs and sell them under the trademarks Systemax, Tiger and Ultra. In addition, they market and sell computers manufactured by other leading companies. The Company's multi-faceted marketing plan features Internet, relationship marketing, and inbound catalog sales. "
Shares of NYSE:SYX traded down $0.03 during midday trading on Tuesday, hitting $20.43. The company had a trading volume of 1,872 shares, compared to its average volume of 90,871. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.66 and a quick ratio of 1.00. The company has a market cap of $766.64 million, a price-to-earnings ratio of 16.75 and a beta of 0.51. Systemax has a 12-month low of $14.00 and a 12-month high of $26.57. The company has a fifty day moving average of $20.02 and a two-hundred day moving average of $21.11.
Systemax (NYSE:SYX) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). The company had revenue of $227.30 million during the quarter, compared to analysts' expectations of $234.59 million. Systemax had a return on equity of 31.30% and a net margin of 4.99%. The company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share. Research analysts expect that Systemax will post 1.1 earnings per share for the current fiscal year.
In other Systemax news, insider Donna Fielding sold 1,980 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $20.27, for a total value of $40,134.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 67.00% of the company's stock.
A number of hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new stake in Systemax in the first quarter valued at approximately $2,538,000. Walthausen & Co. LLC lifted its holdings in shares of Systemax by 305.0% in the 4th quarter. Walthausen & Co. LLC now owns 101,900 shares of the company's stock worth $2,564,000 after acquiring an additional 76,740 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in shares of Systemax by 6.9% in the 1st quarter. King Luther Capital Management Corp now owns 841,488 shares of the company's stock worth $14,920,000 after acquiring an additional 54,281 shares during the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of Systemax by 22.1% in the 1st quarter. Wasatch Advisors Inc. now owns 287,359 shares of the company's stock worth $5,095,000 after acquiring an additional 52,045 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of Systemax by 99.8% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 98,900 shares of the company's stock worth $1,753,000 after acquiring an additional 49,400 shares during the last quarter. Institutional investors and hedge funds own 28.88% of the company's stock.
Systemax Inc operates as a direct marketer of brand name and private label industrial and business equipment and supplies in North America. It sells a range of maintenance, repair, and operation products, including storage and shelving, material handling, janitorial and maintenance products, furniture and office products, workbenches and shop desks, HVAC/R and fans, safety and security products, outdoor and grounds maintenance products, tools and instruments, and office and school supplies.
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