Tech Data Corp. (TECD) Shares Down 1.9%
Shares of Tech Data Corp. (NASDAQ:TECD) traded 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 weighed in on TECD shares. Zacks Investment Research upgraded Tech Data Corp. from a “sell” rating to a “hold” rating and set a $85.00 target price for the company in a report on Monday, May 30th. Citigroup Inc. upped their target price on Tech Data Corp. from $55.00 to $59.00 and gave the stock a “sell” rating in a report on Friday, May 27th. Bank of America Corp. upgraded Tech Data Corp. from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $67.00 to $80.00 in a report on Tuesday. They noted that the move was a valuation call. Needham & Company LLC restated a “hold” rating on shares of Tech Data Corp. in a report on Friday, August 26th. Finally, Raymond James Financial Inc. restated a “market perform” rating on shares of Tech Data Corp. in a report on Wednesday, June 29th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Tech Data Corp. currently has a consensus rating of “Hold” and an average target price of $74.82.
The firm has a market cap of $2.58 billion and a price-to-earnings ratio of 11.91. The stock has a 50-day moving average price of $78.01 and a 200 day moving average price of $74.35.
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 Zacks’ consensus estimate of $1.43 by $0.01. During the same period in the prior year, the company earned $1.43 EPS. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.63 billion. Tech Data Corp.’s revenue was down 3.4% on a year-over-year basis. On average, analysts anticipate that Tech Data Corp. will post $5.94 EPS for the current year.
An institutional investor recently raised its position in Tech Data Corp. stock. KBC Group NV boosted 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 institutional investor 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 at the end of the most recent quarter.
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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