Tech Data (TECD) Rating Increased to Buy at ValuEngine
Tech Data (NASDAQ:TECD) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Wednesday.
Several other research firms also recently commented on TECD. Northcoast Research upgraded Tech Data from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 5th. Zacks Investment Research cut shares of Tech Data from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Citigroup reaffirmed a “hold” rating and issued a $100.00 price target on shares of Tech Data in a report on Friday, September 1st. Stifel Nicolaus lowered their price target on shares of Tech Data from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, September 1st. Finally, Loop Capital reaffirmed a “buy” rating and issued a $120.00 price target (down previously from $130.00) on shares of Tech Data in a report on Friday, September 1st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $112.33.
Tech Data (NASDAQ TECD) opened at $96.70 on Wednesday. Tech Data has a 12 month low of $81.42 and a 12 month high of $111.10. The company has a market capitalization of $3,920.21, a price-to-earnings ratio of 12.75, a PEG ratio of 0.53 and a beta of 0.77. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.66.
Tech Data (NASDAQ:TECD) last posted its quarterly earnings data on Monday, November 27th. The company reported $2.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.10. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.10 billion. Tech Data had a return on equity of 11.90% and a net margin of 0.59%. Tech Data’s quarterly revenue was up 40.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. sell-side analysts predict that Tech Data will post 9.09 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Greenlight Capital Inc. bought a new stake in Tech Data during the third quarter worth about $7,997,000. GSA Capital Partners LLP acquired a new stake in Tech Data during the 3rd quarter worth about $212,000. Dean Investment Associates LLC grew its holdings in Tech Data by 40.9% during the 3rd quarter. Dean Investment Associates LLC now owns 71,835 shares of the company’s stock worth $6,383,000 after acquiring an additional 20,860 shares during the period. California Public Employees Retirement System grew its holdings in Tech Data by 2.2% during the 3rd quarter. California Public Employees Retirement System now owns 107,200 shares of the company’s stock worth $9,525,000 after acquiring an additional 2,300 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in Tech Data by 316.1% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 23,150 shares of the company’s stock worth $2,057,000 after acquiring an additional 17,587 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.
About Tech Data
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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