Tech Data (NASDAQ:TECD) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday.
Other equities research analysts have also issued reports about the company. Pivotal Research set a $114.00 price target on Tech Data and gave the company a “buy” rating in a research report on Tuesday, November 28th. Needham & Company LLC lifted their price target on Tech Data from $102.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, November 28th. ValuEngine upgraded Tech Data from a “hold” rating to a “buy” rating in a research report on Wednesday, November 29th. Raymond James Financial restated a “hold” rating on shares of Tech Data in a research report on Tuesday, November 28th. Finally, Citigroup restated a “hold” rating and set a $110.00 price target on shares of Tech Data in a research report on Tuesday, November 28th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $112.33.
Shares of Tech Data (TECD) opened at $99.10 on Friday. The firm has a market capitalization of $3,780.00, a P/E ratio of 18.91, a PEG ratio of 0.43 and a beta of 0.69. Tech Data has a 1 year low of $81.42 and a 1 year high of $111.10. 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 (NASDAQ:TECD) last issued its quarterly earnings data on Monday, November 27th. The company reported $2.00 earnings per share 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 firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period last year, the company earned $1.44 EPS. The business’s quarterly revenue was up 40.8% compared to the same quarter last year. equities research analysts anticipate that Tech Data will post 9.14 earnings per share for the current year.
In related news, COO Richard T. Hume sold 3,100 shares of Tech Data 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 document filed with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Foundry Partners LLC boosted its holdings in Tech Data by 0.5% in the fourth quarter. Foundry Partners LLC now owns 131,216 shares of the company’s stock worth $12,855,000 after acquiring an additional 588 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Tech Data by 39.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,085 shares of the company’s stock worth $204,000 after acquiring an additional 595 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in Tech Data by 2.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 29,617 shares of the company’s stock worth $2,902,000 after acquiring an additional 688 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Tech Data by 0.5% in the third quarter. Principal Financial Group Inc. now owns 162,878 shares of the company’s stock worth $14,472,000 after acquiring an additional 742 shares in the last quarter. Finally, Strs Ohio boosted its holdings in Tech Data by 5.7% in the third quarter. Strs Ohio now owns 16,700 shares of the company’s stock worth $1,483,000 after acquiring an additional 900 shares in the last quarter. 98.68% of the stock is currently owned by institutional investors and hedge funds.
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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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