Tech Data (NASDAQ:TECD) had its price target increased by Loop Capital to $130.00 in a report published on Thursday, The Fly reports. Loop Capital currently has a buy rating on the stock.

TECD has been the subject of several other reports. BidaskClub raised shares of Tech Data from a strong sell rating to a sell rating in a report on Friday, September 6th. Zacks Investment Research raised shares of Tech Data from a sell rating to a hold rating and set a $95.00 price target for the company in a report on Friday, August 23rd. ValuEngine downgraded shares of Tech Data from a sell rating to a strong sell rating in a report on Wednesday, August 28th. Northcoast Research set a $115.00 price target on shares of Tech Data and gave the company a buy rating in a report on Friday, August 30th. Finally, Citigroup set a $100.00 price target on shares of Tech Data and gave the company a hold rating in a report on Friday, August 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $109.17.

Shares of TECD stock traded up $0.52 during trading hours on Thursday, hitting $105.60. 76,534 shares of the company were exchanged, compared to its average volume of 427,753. The firm has a fifty day simple moving average of $93.66 and a 200 day simple moving average of $99.49. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Tech Data has a 52-week low of $66.93 and a 52-week high of $111.08. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 9.28, a P/E/G ratio of 2.15 and a beta of 1.15.

Tech Data (NASDAQ:TECD) last issued its quarterly earnings results on Thursday, August 29th. The company reported $2.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.33 by $0.36. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.71 billion. Tech Data had a net margin of 0.98% and a return on equity of 15.96%. Tech Data’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.01 EPS. Sell-side analysts anticipate that Tech Data will post 12.46 EPS for the current year.

In related news, Director Thomas I. Morgan sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $100.51, for a total transaction of $201,020.00. Following the transaction, the director now directly owns 17,491 shares of the company’s stock, valued at approximately $1,758,020.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP John A. Tonnison sold 4,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $102.30, for a total value of $409,200.00. Following the transaction, the vice president now directly owns 29,657 shares in the company, valued at $3,033,911.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,550 shares of company stock valued at $1,926,570. Insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of TECD. Magnetar Financial LLC bought a new position in shares of Tech Data during the 2nd quarter valued at $262,000. One Wealth Advisors LLC bought a new position in shares of Tech Data during the 2nd quarter valued at $230,000. Verition Fund Management LLC bought a new position in shares of Tech Data during the 2nd quarter valued at $397,000. Zacks Investment Management grew its holdings in shares of Tech Data by 2.7% during the 2nd quarter. Zacks Investment Management now owns 24,687 shares of the company’s stock valued at $2,582,000 after purchasing an additional 644 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new position in shares of Tech Data during the 2nd quarter valued at $52,578,000. Institutional investors and hedge funds own 97.45% of the company’s stock.

Tech Data Company Profile

Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.

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