Tech Data Corp. (TECD) Shares Gap Up to $80.69
Shares of Tech Data Corp. (NASDAQ:TECD) gapped up before the market opened on Thursday . The stock had previously closed at $80.60, but opened at $80.69. Tech Data Corp. shares last traded at $82.31, with a volume of 208,937 shares trading hands.
Several analysts have issued reports on TECD shares. Brean Capital restated a “buy” rating and set a $82.00 price objective on shares of Tech Data Corp. in a research note on Monday, May 23rd. Zacks Investment Research upgraded Tech Data Corp. from a “sell” rating to a “hold” rating and set a $85.00 price objective on the stock in a research note on Monday, May 30th. Raymond James Financial Inc. restated a “market perform” rating on shares of Tech Data Corp. in a research note on Wednesday, June 29th. Northcoast Research started coverage on Tech Data Corp. in a research note on Wednesday. They set a “neutral” rating on the stock. Finally, Citigroup Inc. upped their price objective on Tech Data Corp. from $55.00 to $59.00 and gave the company a “sell” rating in a research note on Friday, May 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $68.62.
The firm has a market capitalization of $2.88 billion and a price-to-earnings ratio of 11.79. The stock has a 50-day moving average price of $75.93 and a 200 day moving average price of $72.72.
Tech Data Corp. (NASDAQ:TECD) last issued its quarterly earnings results on Thursday, May 26th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The company earned $5.96 billion during the quarter, compared to analyst estimates of $5.98 billion. During the same period in the prior year, the business earned $0.80 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities research analysts anticipate that Tech Data Corp. will post $6.19 earnings per share for the current fiscal year.
Several hedge funds recently modified their holdings of TECD. KBC Group NV raised its stake in shares of Tech Data Corp. by 2.6% in the fourth quarter. KBC Group NV now owns 40,185 shares of the company’s stock worth $2,668,000 after buying an additional 1,016 shares in the last quarter. Matarin Capital Management LLC acquired a new stake in Tech Data Corp. during the fourth quarter worth approximately $2,092,000. Dean Investment Associates LLC raised its stake in Tech Data Corp. by 1.8% in the fourth quarter. Dean Investment Associates LLC now owns 68,410 shares of the company’s stock worth $4,541,000 after buying an additional 1,205 shares in the last quarter. Victory Capital Management Inc. raised its stake in Tech Data Corp. by 12.5% in the fourth quarter. Victory Capital Management Inc. now owns 571,304 shares of the company’s stock worth $37,924,000 after buying an additional 63,636 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in Tech Data Corp. by 178.0% in the fourth quarter. Schroder Investment Management Group now owns 36,700 shares of the company’s stock worth $2,436,000 after buying an additional 23,500 shares in the last quarter.
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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