Tech Data Corporation (TECD) Receives Average Rating of “Buy” from Analysts
Tech Data Corporation (NASDAQ:TECD) has been assigned an average rating of “Buy” from the ten ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $110.00.
A number of analysts have recently commented on the company. Northcoast Research restated a “neutral” rating on shares of Tech Data Corporation in a research report on Monday. Zacks Investment Research upgraded Tech Data Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Loop Capital assumed coverage on Tech Data Corporation in a research report on Thursday, August 24th. They issued a “buy” rating and a $130.00 price objective for the company. Citigroup Inc. upgraded 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. Finally, Bank of America Corporation restated a “buy” rating and issued a $110.00 price objective on shares of Tech Data Corporation in a research report on Thursday, June 1st.
TRADEMARK VIOLATION WARNING: This piece was published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.watchlistnews.com/tech-data-corporation-tecd-receives-average-rating-of-buy-from-analysts/1530290.html.
In other news, CFO Alain Amsellem sold 1,000 shares of Tech Data Corporation stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $104.63, for a total value of $104,630.00. Following the sale, the chief financial officer now directly owns 26,379 shares of the company’s stock, valued at $2,760,034.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert M. Dutkowsky sold 20,000 shares of Tech Data Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $100.08, for a total value of $2,001,600.00. The disclosure for this sale can be found here. Insiders sold 34,888 shares of company stock worth $3,519,704 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its position in Tech Data Corporation by 12,492.8% in the first quarter. BlackRock Inc. now owns 3,852,635 shares of the company’s stock worth $361,763,000 after buying an additional 3,822,041 shares during the period. Janus Henderson Group PLC bought a new position in Tech Data Corporation during the second quarter worth $35,974,000. Numeric Investors LLC raised its position in Tech Data Corporation by 1,589.9% in the second quarter. Numeric Investors LLC now owns 326,156 shares of the company’s stock worth $32,942,000 after buying an additional 306,856 shares during the period. Peregrine Capital Management LLC bought a new position in Tech Data Corporation during the second quarter worth $26,404,000. 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 during the period.
Tech Data Corporation (NASDAQ TECD) traded up 0.68% during trading on Tuesday, hitting $107.58. 353,544 shares of the stock were exchanged. Tech Data Corporation has a 1-year low of $67.67 and a 1-year high of $108.51. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 20.07 and a beta of 0.79. The company has a 50-day moving average price of $104.27 and a 200 day moving average price of $96.83.
Tech Data Corporation (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, June 1st. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.53. The company had revenue of $7.66 billion during the quarter, compared to analysts’ expectations of $7.31 billion. Tech Data Corporation had a return on equity of 11.67% and a net margin of 0.69%. Tech Data Corporation’s quarterly revenue was up 28.5% on a year-over-year basis. During the same period last year, the business earned $1.05 earnings per share. Equities analysts predict that Tech Data Corporation will post $9.78 earnings per share for the current fiscal year.
Tech Data Corporation 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.
Receive News & Ratings for Tech Data Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.