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 released on Tuesday. The firm currently has $96.00 price target on the stock, up from their previous price target of $75.00.
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Tech Data Corp. from a sell rating to a hold rating in a report on Thursday, September 15th. Bank of America Corp. raised shares of Tech Data Corp. from an underperform rating to a neutral rating and raised their target price for the company from $67.00 to $80.00 in a research note on Tuesday, August 30th. They noted that the move was a valuation call. Brean Capital reissued a buy rating and issued a $82.00 target price on shares of Tech Data Corp. in a research note on Friday, August 26th. Needham & Company LLC reissued a hold rating on shares of Tech Data Corp. in a research note on Friday, August 26th. Finally, Northcoast Research initiated coverage on shares of Tech Data Corp. in a research note on Wednesday, August 10th. They issued a neutral rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $90.87.
Tech Data Corp. (NASDAQ:TECD) opened at 88.50 on Tuesday. Tech Data Corp. has a 1-year low of $57.99 and a 1-year high of $88.70. The firm has a market cap of $3.12 billion, a P/E ratio of 14.37 and a beta of 0.95. The firm has a 50-day moving average of $77.18 and a 200 day moving average of $74.80.
Tech Data Corp. (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, August 25th. The company reported $1.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.43 by $0.01. The company earned $6.35 billion during the quarter, compared to analyst estimates of $6.63 billion. Tech Data Corp. had a net margin of 0.83% and a return on equity of 10.39%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.43 EPS. On average, analysts predict that Tech Data Corp. will post $5.97 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the company. Stifel Financial Corp raised its position in Tech Data Corp. by 4,881.8% in the fourth quarter. Stifel Financial Corp now owns 172,369 shares of the company’s stock valued at $13,866,000 after buying an additional 168,909 shares during the period. Norges Bank acquired a new position in Tech Data Corp. during the fourth quarter valued at approximately $35,917,000. Glenmede Trust Co. NA raised its position in 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 raised its position in 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. Finally, Nisa Investment Advisors L.L.C. raised its position in 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.
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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