Tech Data Corporation (NASDAQ:TECD)‘s stock had its “neutral” rating restated by investment analysts at Northcoast Research in a research note issued to investors on Monday. Northcoast Research also issued estimates for Tech Data Corporation’s Q2 2019 earnings at $2.56 EPS and Q4 2019 earnings at $3.79 EPS.

Several other equities research analysts have also issued reports on TECD. Zacks Investment Research lowered shares of Tech Data Corporation from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, May 3rd. Bank of America Corporation reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Tech Data Corporation in a research note on Thursday, June 1st. Citigroup Inc. raised shares of Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 price objective for the company in a research note on Friday, June 2nd. BidaskClub lowered shares of Tech Data Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, Loop Capital started coverage on shares of Tech Data Corporation in a research note on Thursday, August 24th. They issued a “buy” rating and a $130.00 price objective for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Tech Data Corporation presently has a consensus rating of “Buy” and a consensus price target of $108.63.

Shares of Tech Data Corporation (TECD) opened at 106.85 on Monday. Tech Data Corporation has a one year low of $67.67 and a one year high of $107.50. The firm has a 50-day moving average price of $104.27 and a 200 day moving average price of $96.83. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 19.94 and a beta of 0.79.

Tech Data Corporation (NASDAQ:TECD) last released its quarterly earnings data on Thursday, June 1st. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.53. Tech Data Corporation had a net margin of 0.69% and a return on equity of 11.67%. The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.31 billion. During the same quarter in the previous year, the business earned $1.05 EPS. Tech Data Corporation’s quarterly revenue was up 28.5% compared to the same quarter last year. Equities analysts forecast that Tech Data Corporation will post $9.78 earnings per share for the current fiscal year.

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In other Tech Data Corporation news, CFO Alain Amsellem sold 1,648 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 26,479 shares of the company’s stock, valued at approximately $2,814,982.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David R. Vetter sold 6,000 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $100.26, for a total transaction of $601,560.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,888 shares of company stock valued at $3,519,704. Company insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TECD. BlackRock Inc. raised its position in Tech Data Corporation by 24.1% in the second quarter. BlackRock Inc. now owns 4,780,405 shares of the company’s stock worth $482,820,000 after buying an additional 927,770 shares in the last quarter. Vanguard Group Inc. raised its position in Tech Data Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 3,834,033 shares of the company’s stock worth $387,237,000 after buying an additional 95,414 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Tech Data Corporation by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,039,981 shares of the company’s stock worth $285,451,000 after buying an additional 69,458 shares in the last quarter. State Street Corp raised its position in Tech Data Corporation by 3.7% in the second quarter. State Street Corp now owns 1,269,882 shares of the company’s stock worth $128,258,000 after buying an additional 44,944 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Tech Data Corporation by 37.5% in the second quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock worth $79,316,000 after buying an additional 214,058 shares in the last quarter.

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.

Analyst Recommendations for Tech Data Corporation (NASDAQ:TECD)

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