Tech Data Corp. (NASDAQ:TECD) was upgraded by investment analysts at Credit Agricole SA from an “underperform” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other equities analysts also recently weighed in on the stock. Bank of America Corp. raised shares of Tech Data Corp. from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $67.00 to $80.00 in a research note on Tuesday, August 30th. They noted that the move was a valuation call. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Tech Data Corp. in a research note on Wednesday, June 29th. Zacks Investment Research downgraded shares of Tech Data Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Stifel Nicolaus raised shares of Tech Data Corp. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $96.00 in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tech Data Corp. in a research note on Friday, August 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $78.35.

Analyst Recommendations for Tech Data Corp. (NASDAQ:TECD)

Shares of Tech Data Corp. (NASDAQ:TECD) opened at 86.19 on Tuesday. The company has a 50 day moving average of $76.83 and a 200 day moving average of $74.71. Tech Data Corp. has a 12 month low of $57.99 and a 12 month high of $88.70. The stock has a market cap of $3.04 billion, a P/E ratio of 13.99 and a beta of 0.95.

Tech Data Corp. (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, August 25th. The company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by $0.01. Tech Data Corp. had a net margin of 0.83% and a return on equity of 10.39%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same period in the prior year, the business earned $1.43 earnings per share. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities research analysts expect that Tech Data Corp. will post $5.97 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of TECD. Weaver C. Barksdale & Associates Inc. boosted its position in shares of Tech Data Corp. by 7.2% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 1,473 shares of the company’s stock worth $106,000 after buying an additional 99 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Tech Data Corp. by 71.9% in the second quarter. LS Investment Advisors LLC now owns 2,102 shares of the company’s stock worth $151,000 after buying an additional 879 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Tech Data Corp. during the first quarter worth about $199,000. Jane Street Group LLC purchased a new position in shares of Tech Data Corp. during the second quarter worth about $208,000. Finally, Fuller & Thaler Asset Management Inc. boosted its position in shares of Tech Data Corp. by 18.5% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,200 shares of the company’s stock worth $230,000 after buying an additional 500 shares in the last quarter.

Tech Data Corp. 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.

5 Day Chart for NASDAQ:TECD

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