Tech Data Corp. (TECD) Upgraded at Stifel Nicolaus
Stifel Nicolaus upgraded shares of Tech Data Corp. (NASDAQ:TECD) from a hold rating to a buy rating in a report published on Tuesday morning. They currently have $96.00 price objective on the stock, up from their prior price objective of $75.00.
Several other analysts also recently commented on TECD. Brean Capital reissued a buy rating and issued a $82.00 target price on shares of Tech Data Corp. in a research report on Monday, May 23rd. Citigroup Inc. upped their price objective on shares of Tech Data Corp. from $55.00 to $59.00 and gave the stock a sell rating in a report on Friday, May 27th. Zacks Investment Research raised shares of Tech Data Corp. from a sell rating to a hold rating and set a $85.00 price objective for the company in a report on Monday, May 30th. Raymond James Financial Inc. reaffirmed a market perform rating on shares of Tech Data Corp. in a report on Wednesday, June 29th. Finally, Northcoast Research initiated coverage on shares of Tech Data Corp. in a report on Wednesday, August 10th. They set a neutral rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Tech Data Corp. currently has an average rating of Hold and a consensus price target of $90.87.
Tech Data Corp. (NASDAQ:TECD) opened at 88.50 on Tuesday. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 14.37 and a beta of 0.95. Tech Data Corp. has a 12-month low of $57.99 and a 12-month high of $88.70. The stock has a 50 day moving average of $77.18 and a 200 day moving average of $74.80.
Tech Data Corp. (NASDAQ:TECD) last posted its 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 business 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 business’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.43 earnings per share. Equities research analysts anticipate that Tech Data Corp. will post $5.97 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in TECD. FMR LLC boosted its position in Tech Data Corp. by 14.4% in the second quarter. FMR LLC now owns 4,077,520 shares of the company’s stock valued at $292,970,000 after buying an additional 511,893 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Tech Data Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 3,525,069 shares of the company’s stock worth $253,276,000 after buying an additional 332,980 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Tech Data Corp. by 1.0% in the second quarter. BlackRock Fund Advisors now owns 1,759,139 shares of the company’s stock worth $126,394,000 after buying an additional 16,960 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Tech Data Corp. by 8.8% in the second quarter. AQR Capital Management LLC now owns 1,599,891 shares of the company’s stock worth $114,952,000 after buying an additional 129,700 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Tech Data Corp. by 15.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,325,549 shares of the company’s stock worth $95,241,000 after buying an additional 173,424 shares in the last quarter.
About Tech Data Corp.
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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