Tech Data (TECD) Stock Rating Upgraded by BidaskClub
BidaskClub upgraded shares of Tech Data (NASDAQ:TECD) from a hold rating to a buy rating in a research report released on Tuesday morning.
A number of other analysts also recently commented on TECD. Needham & Company LLC reiterated a buy rating and issued a $100.00 price objective (down previously from $107.00) on shares of Tech Data in a research report on Monday, September 18th. ValuEngine downgraded Tech Data from a buy rating to a hold rating in a research report on Monday, September 18th. Pivotal Research started coverage on Tech Data in a research report on Friday, October 6th. They issued a buy rating and a $114.00 price objective for the company. Zacks Investment Research upgraded Tech Data from a sell rating to a hold rating in a research report on Friday, October 13th. Finally, Citigroup restated a hold rating and set a $110.00 target price on shares of Tech Data in a research report on Tuesday, November 28th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $112.33.
Shares of Tech Data (NASDAQ:TECD) traded down $1.02 during mid-day trading on Tuesday, hitting $102.02. The company’s stock had a trading volume of 300,293 shares, compared to its average volume of 247,943. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.35 and a quick ratio of 0.89. Tech Data has a 52 week low of $81.42 and a 52 week high of $111.10. The company has a market cap of $3,890.00, a P/E ratio of 19.47, a P/E/G ratio of 0.51 and a beta of 0.78.
Tech Data (NASDAQ:TECD) last announced its quarterly earnings data on Monday, November 27th. The company reported $2.00 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.10. Tech Data had a return on equity of 11.90% and a net margin of 0.59%. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter last year, the company earned $1.44 EPS. The company’s quarterly revenue was up 40.8% on a year-over-year basis. equities analysts expect that Tech Data will post 9.14 EPS for the current year.
In related news, COO Richard T. Hume sold 3,100 shares of the firm’s stock in a transaction that occurred on 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 accessible through the SEC website. 1.60% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. SpiderRock Advisors LLC bought a new position in shares of Tech Data during the 3rd quarter worth approximately $106,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Tech Data by 15.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock worth $150,000 after buying an additional 195 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Tech Data during the 3rd quarter worth approximately $201,000. Cipher Capital LP bought a new position in shares of Tech Data during the 3rd quarter worth approximately $206,000. Finally, GSA Capital Partners LLP acquired a new stake in Tech Data during the 3rd quarter valued at $212,000. Institutional investors and hedge funds own 98.10% of the company’s stock.
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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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