Tech Data Corporation (TECD) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Tech Data Corporation (NASDAQ:TECD) have been given an average rating of “Buy” by the eleven research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $109.33.
Several research firms recently weighed in on TECD. Zacks Investment Research upgraded Tech Data Corporation from a “sell” rating to a “hold” rating in a report on Friday, October 13th. Needham & Company LLC lifted their price objective on Tech Data Corporation from $100.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, October 12th. Pivotal Research began coverage on Tech Data Corporation in a report on Friday, October 6th. They issued a “buy” rating and a $114.00 price objective for the company. ValuEngine upgraded Tech Data Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Northcoast Research upgraded Tech Data Corporation from a “neutral” rating to a “buy” rating in a report on Tuesday, September 5th.
Tech Data Corporation (NASDAQ:TECD) traded down 0.10% during mid-day trading on Wednesday, hitting $92.60. 507,530 shares of the stock were exchanged. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 17.57 and a beta of 0.78. The stock has a 50 day moving average of $89.83 and a 200-day moving average of $96.96. Tech Data Corporation has a 52-week low of $74.07 and a 52-week high of $111.10.
Tech Data Corporation (NASDAQ:TECD) last released its quarterly earnings data on Thursday, August 31st. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.32). The firm had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $8.74 billion. Tech Data Corporation had a net margin of 0.63% and a return on equity of 11.60%. The business’s revenue was up 39.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 earnings per share. Equities analysts predict that Tech Data Corporation will post $8.94 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of TECD. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Tech Data Corporation by 15.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock valued at $150,000 after purchasing an additional 195 shares during the last quarter. Invictus RG purchased a new position in Tech Data Corporation in the first quarter valued at about $156,000. Engine Capital Management LLC grew its stake in Tech Data Corporation by 1,083.4% in the first quarter. Engine Capital Management LLC now owns 2,000 shares of the company’s stock valued at $188,000 after purchasing an additional 1,831 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Tech Data Corporation by 3.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,460 shares of the company’s stock valued at $231,000 after purchasing an additional 80 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its stake in Tech Data Corporation by 78.4% in the second quarter. Riverhead Capital Management LLC now owns 2,497 shares of the company’s stock valued at $252,000 after purchasing an additional 1,097 shares during the last quarter.
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Tech Data Corporation 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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