Tech Data Corp. (TECD) Upgraded to Buy at Credit Agricole SA
TECD has been the subject of several other research reports. Zacks Investment Research upgraded shares of Tech Data Corp. from a sell rating to a hold rating and set a $85.00 target price for the company in a report on Monday, May 30th. Citigroup Inc. raised their price objective on shares of Tech Data Corp. from $55.00 to $59.00 and gave the stock a sell rating in a report on Friday, May 27th. Bank of America Corp. upgraded shares of Tech Data Corp. from an underperform rating to a neutral rating and raised their price objective for the stock from $67.00 to $80.00 in a report on Tuesday, August 30th. They noted that the move was a valuation call. Needham & Company LLC restated a hold rating on shares of Tech Data Corp. in a report on Friday, August 26th. Finally, Raymond James Financial Inc. restated a market perform rating on shares of Tech Data Corp. in a report on Wednesday, June 29th. 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. The company presently has a consensus rating of Hold and an average price target of $78.35.
Shares of Tech Data Corp. (NASDAQ:TECD) opened at 85.08 on Tuesday. The company has a market cap of $3.00 billion, a P/E ratio of 13.81 and a beta of 0.95. The stock’s 50 day moving average is $76.53 and its 200-day moving average is $74.62. Tech Data Corp. has a one year low of $57.99 and a one year high of $88.70.
Tech Data Corp. (NASDAQ:TECD) last announced its earnings results on Thursday, August 25th. The company reported $1.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by $0.01. The firm earned $6.35 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Tech Data Corp. had a net margin of 0.83% and a return on equity of 10.39%. The business’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. Equities research analysts forecast that Tech Data Corp. will post $5.93 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Tech Data Corp. during the fourth quarter valued at $35,917,000. FMR LLC raised its position in Tech Data Corp. by 14.4% in the second quarter. FMR LLC now owns 4,077,520 shares of the company’s stock worth $292,970,000 after buying an additional 511,893 shares during the period. Emerald Acquisition Ltd. purchased a new position in Tech Data Corp. during the second quarter worth approximately $32,170,000. JPMorgan Chase & Co. raised its position in Tech Data Corp. by 73.3% in the first quarter. JPMorgan Chase & Co. now owns 850,627 shares of the company’s stock worth $65,302,000 after buying an additional 359,668 shares during the period. Finally, Vanguard Group Inc. raised its position in Tech Data Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 3,525,069 shares of the company’s stock worth $253,276,000 after buying an additional 332,980 shares during the period.
About Tech Data Corp.
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.
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