BidaskClub Upgrades Tech Data (NASDAQ:TECD) to Buy

BidaskClub upgraded shares of Tech Data (NASDAQ:TECD) from a hold rating to a buy rating in a report published on Tuesday, January 9th.

A number of other equities analysts have also weighed in on TECD. ValuEngine raised shares of Tech Data from a hold rating to a buy rating in a research report on Monday, October 2nd. Pivotal Research set a $114.00 target price on shares of Tech Data and gave the company a buy rating in a report on Tuesday, November 28th. Needham & Company LLC boosted their target price on shares of Tech Data from $102.00 to $110.00 and gave the company a buy rating in a report on Tuesday, November 28th. Raymond James Financial reiterated a hold rating on shares of Tech Data in a research note on Tuesday, November 28th. Finally, Citigroup reiterated a hold rating and set a $110.00 price objective on shares of Tech Data in a research note on Tuesday, November 28th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $112.33.

Shares of Tech Data (TECD) traded up $1.15 during trading hours on Tuesday, hitting $105.62. 178,642 shares of the stock traded hands, compared to its average volume of 235,736. The stock has a market capitalization of $4,000.37, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 0.53 and a beta of 0.78. The company has a current ratio of 1.35, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. Tech Data has a 1-year low of $81.42 and a 1-year high of $111.10.

Tech Data (NASDAQ:TECD) last announced its earnings results on Monday, November 27th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.10. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.10 billion. Tech Data had a net margin of 0.59% and a return on equity of 11.90%. The firm’s quarterly revenue was up 40.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 earnings per share. sell-side analysts forecast that Tech Data will post 9.14 earnings per share for the current fiscal year.

In other Tech Data news, COO Richard T. Hume sold 3,100 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $98.06, for a total transaction of $303,986.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Several large investors have recently modified their holdings of the business. Amalgamated Bank grew its position in shares of Tech Data by 1.6% during the second quarter. Amalgamated Bank now owns 4,990 shares of the company’s stock worth $504,000 after acquiring an additional 80 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in shares of Tech Data by 2.0% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,077 shares of the company’s stock worth $437,000 after acquiring an additional 117 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Tech Data by 1.4% during the second quarter. Ameritas Investment Partners Inc. now owns 13,405 shares of the company’s stock worth $1,354,000 after acquiring an additional 187 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tech Data by 15.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock worth $150,000 after acquiring an additional 195 shares during the last quarter. Finally, Suntrust Banks Inc. grew its position in shares of Tech Data by 4.0% during the second quarter. Suntrust Banks Inc. now owns 5,846 shares of the company’s stock worth $590,000 after acquiring an additional 227 shares during the last quarter. 98.12% of the stock is currently owned by institutional investors.

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Tech Data 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.

Analyst Recommendations for Tech Data (NASDAQ:TECD)

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