Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Tech Data Corporation (NASDAQ:TECD) Share Price
Media headlines about Tech Data Corporation (NASDAQ:TECD) have trended somewhat positive recently, Accern Sentiment reports. Accern identifies negative and positive news coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Tech Data Corporation earned a media sentiment score of 0.21 on Accern’s scale. Accern also assigned media stories about the company an impact score of 45.928532262787 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the news articles that may have impacted Accern Sentiment Analysis’s analysis:
- Tech Data Corporation (TECD) Stock Rating Lowered by BidaskClub (americanbankingnews.com)
- Tech Data Corporation (NASDAQ:TECD) Expected to Post Quarterly Sales of $8.71 Billion (americanbankingnews.com)
- Tech Data Appointed as Distributor for Red Hat Mobile Application Platform (cmo.com.au)
- Tech Data to give Cisco a BOOST (computerdealernews.com)
- Tech Data Corp Has Returned 24.9% Since SmarTrend Recommendation (TECD) (mysmartrend.com)
Tech Data Corporation (NASDAQ TECD) opened at 101.15 on Friday. The firm has a market cap of $3.86 billion, a PE ratio of 18.87 and a beta of 0.79. Tech Data Corporation has a 52-week low of $67.67 and a 52-week high of $107.50. The company’s 50 day moving average price is $103.86 and its 200 day moving average price is $95.53.
Tech Data Corporation (NASDAQ:TECD) last posted its quarterly earnings results on Thursday, June 1st. The company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.53. Tech Data Corporation had a return on equity of 11.67% and a net margin of 0.69%. The business had revenue of $7.66 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter last year, the company posted $1.05 earnings per share. Tech Data Corporation’s quarterly revenue was up 28.5% on a year-over-year basis. Analysts predict that Tech Data Corporation will post $9.76 earnings per share for the current fiscal year.
TECD has been the subject of several research analyst reports. Zacks Investment Research raised Tech Data Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Citigroup Inc. raised Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 price objective for the company in a research report on Friday, June 2nd. Bank of America Corporation reissued a “buy” rating and set a $110.00 price objective on shares of Tech Data Corporation in a research report on Thursday, June 1st. Finally, BidaskClub cut Tech Data Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $105.57.
In other Tech Data Corporation news, CFO Alain Amsellem sold 1,648 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $106.31, for a total transaction of $175,198.88. Following the completion of the sale, the chief financial officer now directly owns 26,479 shares in the company, valued at $2,814,982.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph H. Quaglia sold 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $103.00, for a total transaction of $494,400.00. The disclosure for this sale can be found here. Insiders have sold 34,888 shares of company stock valued at $3,519,704 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.
About Tech Data Corporation
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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