Tech Data Corp. (NASDAQ:TECD) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $96.00 target price on the stock, up from their previous target price of $75.00. Stifel Nicolaus’ price target would suggest a potential upside of 11.38% from the stock’s current price.

A number of other brokerages also recently weighed in on TECD. Northcoast Research began coverage on Tech Data Corp. in a report on Wednesday, August 10th. They issued a “neutral” rating on the stock. Zacks Investment Research downgraded Tech Data Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Citigroup Inc. upped their target price on Tech Data Corp. from $55.00 to $59.00 and gave the company a “sell” rating in a report on Friday, May 27th. Needham & Company LLC reiterated a “hold” rating on shares of Tech Data Corp. in a report on Friday, August 26th. Finally, Brean Capital reiterated a “buy” rating and issued a $82.00 target price on shares of Tech Data Corp. in a report on Friday, August 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Tech Data Corp. currently has an average rating of “Hold” and a consensus price target of $78.35.

Analyst Recommendations for Tech Data Corp. (NASDAQ:TECD)

Shares of Tech Data Corp. (NASDAQ:TECD) opened at 86.19 on Tuesday. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 13.99 and a beta of 0.95. The company has a 50 day moving average of $76.83 and a 200-day moving average of $74.71. Tech Data Corp. has a 52 week low of $57.99 and a 52 week high of $88.70.

Tech Data Corp. (NASDAQ:TECD) last issued its earnings results on Thursday, August 25th. The company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by $0.01. The business earned $6.35 billion during the quarter, compared to analyst estimates of $6.63 billion. Tech Data Corp. had a net margin of 0.83% and a return on equity of 10.39%. Tech Data Corp.’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. On average, equities research analysts expect that Tech Data Corp. will post $5.97 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. Weaver C. Barksdale & Associates Inc. boosted its stake in shares of Tech Data Corp. by 7.2% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 1,473 shares of the company’s stock worth $106,000 after buying an additional 99 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of Tech Data Corp. by 71.9% in the second quarter. LS Investment Advisors LLC now owns 2,102 shares of the company’s stock worth $151,000 after buying an additional 879 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Tech Data Corp. by 3.9% in the second quarter. Acrospire Investment Management LLC now owns 2,694 shares of the company’s stock worth $194,000 after buying an additional 100 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Tech Data Corp. during the second quarter worth about $208,000. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Tech Data Corp. by 18.5% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,200 shares of the company’s stock worth $230,000 after buying an additional 500 shares during the last quarter.

Tech Data Corp. Company Profile

Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.

5 Day Chart for NASDAQ:TECD

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