Shares of Tech Data Corp. (NASDAQ:TECD) were down 1.9% during mid-day trading on Thursday . The company traded as low as $71.95 and last traded at $72.82, with a volume of 283,405 shares trading hands. The stock had previously closed at $74.24.

A number of analysts have recently issued reports on TECD shares. 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 company from $67.00 to $80.00 in a research note on Tuesday. They noted that the move was a valuation call. Raymond James Financial Inc. reissued a “market perform” rating on shares of Tech Data Corp. in a research note on Wednesday, June 29th. Zacks Investment Research lowered shares of Tech Data Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Needham & Company LLC restated a “hold” rating on shares of Tech Data Corp. in a report on Friday, August 26th. Finally, Northcoast Research assumed coverage on Tech Data Corp. in a report on Wednesday, August 10th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $74.82.

The company has a 50-day moving average price of $78.02 and a 200 day moving average price of $74.36. The stock has a market capitalization of $2.58 billion and a price-to-earnings ratio of 11.91.

Tech Data Corp. (NASDAQ:TECD) last issued its earnings results on Thursday, August 25th. The company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by $0.01. The business earned $6.35 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same period in the previous year, the business earned $1.43 earnings per share. The firm’s revenue was down 3.4% on a year-over-year basis. Analysts predict that Tech Data Corp. will post $5.94 EPS for the current fiscal year.

An institutional investor recently raised its position in Tech Data Corp. stock. KBC Group NV increased its position in Tech Data Corp. (NASDAQ:TECD) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,185 shares of the company’s stock after buying an additional 1,016 shares during the period. KBC Group NV owned 0.11% of Tech Data Corp. worth $2,668,000 as of its most recent filing with the SEC.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.