Tech Data Corp. (TECD) Receives “Buy” Rating from Brean Capital
Brean Capital reaffirmed their buy rating on shares of Tech Data Corp. (NASDAQ:TECD) in a report released on Thursday morning. Brean Capital currently has a $105.00 target price on the stock, up from their previous target price of $82.00.
TECD has been the subject of several other reports. Bank of America Corp. raised Tech Data Corp. from a neutral rating to a buy rating and set a $100.00 price target for the company in a research report on Tuesday. Zacks Investment Research upgraded Tech Data Corp. from a sell rating to a hold rating in a research note on Thursday, September 15th. Credit Agricole SA upgraded Tech Data Corp. from an underperform rating to a buy rating and boosted their target price for the stock from $76.00 to $102.00 in a research note on Tuesday. Needham & Company LLC restated a hold rating on shares of Tech Data Corp. in a research note on Friday, August 26th. Finally, Northcoast Research initiated coverage on Tech Data Corp. in a research note on Wednesday, August 10th. They set a neutral rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Tech Data Corp. currently has a consensus rating of Hold and an average price target of $90.87.
Tech Data Corp. (NASDAQ:TECD) opened at 88.50 on Thursday. The stock has a 50 day moving average price of $77.18 and a 200 day moving average price of $74.80. Tech Data Corp. has a 1-year low of $57.99 and a 1-year high of $88.70. The company has a market cap of $3.12 billion, a P/E ratio of 14.37 and a beta of 0.95.
Tech Data Corp. (NASDAQ:TECD) last released its quarterly earnings results on Thursday, August 25th. The company reported $1.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by $0.01. The company earned $6.35 billion during the quarter, compared to the consensus estimate of $6.63 billion. Tech Data Corp. had a return on equity of 10.39% and a net margin of 0.83%. The company’s revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 earnings per share. On average, equities research analysts anticipate that Tech Data Corp. will post $5.97 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Tech Data Corp. during the fourth quarter valued at $35,917,000. Glenmede Trust Co. NA boosted its position in shares of Tech Data Corp. by 15.1% in the first quarter. Glenmede Trust Co. NA now owns 26,495 shares of the company’s stock valued at $2,033,000 after buying an additional 3,475 shares during the period. Aperio Group LLC boosted its position in shares of Tech Data Corp. by 12.7% in the first quarter. Aperio Group LLC now owns 67,299 shares of the company’s stock valued at $5,167,000 after buying an additional 7,578 shares during the period. Nisa Investment Advisors L.L.C. boosted its position in shares of Tech Data Corp. by 80.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 39,600 shares of the company’s stock valued at $3,040,000 after buying an additional 17,600 shares during the period. Finally, Virginia Retirement System bought a new position in shares of Tech Data Corp. during the first quarter valued at about $330,000.
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.
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