Tech Data Corp (TECD) Given Average Recommendation of “Buy” by Brokerages
Shares of Tech Data Corp (NASDAQ:TECD) have received a consensus rating of “Buy” from the twelve research firms that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $112.33.
Several equities research analysts have weighed in on the company. ValuEngine downgraded Tech Data from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target (down previously from $107.00) on shares of Tech Data in a report on Monday, September 18th. Citigroup reissued a “hold” rating and issued a $110.00 price target on shares of Tech Data in a report on Tuesday, November 28th. Raymond James Financial reissued a “hold” rating on shares of Tech Data in a report on Tuesday, November 28th. Finally, Zacks Investment Research raised Tech Data from a “sell” rating to a “hold” rating in a report on Friday, October 13th.
In related news, COO Richard T. Hume sold 3,100 shares of Tech Data stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $98.06, for a total transaction of $303,986.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Palisade Capital Management LLC NJ acquired a new stake in shares of Tech Data during the third quarter worth about $888,000. Prudential Financial Inc. lifted its holdings in shares of Tech Data by 30.2% during the second quarter. Prudential Financial Inc. now owns 381,747 shares of the company’s stock worth $38,557,000 after purchasing an additional 88,598 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Tech Data by 37.5% during the second quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock worth $79,316,000 after purchasing an additional 214,058 shares during the period. Geneva Advisors LLC acquired a new stake in shares of Tech Data during the second quarter worth about $606,000. Finally, American Century Companies Inc. lifted its holdings in shares of Tech Data by 139.1% during the third quarter. American Century Companies Inc. now owns 210,241 shares of the company’s stock worth $18,680,000 after purchasing an additional 122,298 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.
Tech Data (NASDAQ TECD) traded up $0.75 on Thursday, reaching $96.99. The company’s stock had a trading volume of 280,684 shares, compared to its average volume of 445,280. Tech Data has a 52 week low of $81.42 and a 52 week high of $111.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.35 and a quick ratio of 0.89. The stock has a market capitalization of $3,687.89, a price-to-earnings ratio of 11.99, a PEG ratio of 0.48 and a beta of 0.78.
Tech Data (NASDAQ:TECD) last issued its quarterly earnings results on Monday, November 27th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.10. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.10 billion. Tech Data had a return on equity of 11.90% and a net margin of 0.59%. The company’s quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter last year, the company earned $1.44 earnings per share. research analysts predict that Tech Data will post 9.14 earnings per share for the current fiscal year.
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About Tech Data
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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