Tech Data Corp (NASDAQ:TECD) has been given an average recommendation of “Buy” by the eleven brokerages that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $112.33.
Several equities research analysts have commented on TECD shares. Zacks Investment Research upgraded shares of Tech Data from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Needham & Company LLC boosted their price objective on shares of Tech Data from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, October 12th. Pivotal Research started coverage on shares of Tech Data in a research report on Friday, October 6th. They issued a “buy” rating and a $114.00 price objective on the stock. ValuEngine upgraded shares of Tech Data from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Citigroup reiterated a “hold” rating and issued a $110.00 price objective on shares of Tech Data in a research report on Tuesday, November 28th.
In related news, COO Richard T. Hume sold 3,100 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $98.06, for a total value of $303,986.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.60% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in TECD. Schwab Charles Investment Management Inc. raised its stake in Tech Data by 95.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 435,632 shares of the company’s stock valued at $43,999,000 after purchasing an additional 212,256 shares during the last quarter. First Trust Advisors LP grew its stake in Tech Data by 2.3% in the second quarter. First Trust Advisors LP now owns 40,493 shares of the company’s stock valued at $4,090,000 after acquiring an additional 911 shares during the period. State of Wisconsin Investment Board grew its stake in Tech Data by 138.1% in the second quarter. State of Wisconsin Investment Board now owns 35,722 shares of the company’s stock valued at $3,608,000 after acquiring an additional 20,722 shares during the period. Legal & General Group Plc grew its stake in Tech Data by 2.1% in the second quarter. Legal & General Group Plc now owns 111,806 shares of the company’s stock valued at $11,294,000 after acquiring an additional 2,295 shares during the period. Finally, Comerica Bank grew its stake in Tech Data by 0.9% in the second quarter. Comerica Bank now owns 27,691 shares of the company’s stock valued at $2,919,000 after acquiring an additional 260 shares during the period. 98.10% of the stock is owned by hedge funds and other institutional investors.
Shares of Tech Data (NASDAQ:TECD) traded up $1.57 during midday trading on Monday, hitting $101.39. 180,866 shares of the company’s stock traded hands, compared to its average volume of 401,439. The stock has a market cap of $3,870.00, a price-to-earnings ratio of 19.35, a P/E/G ratio of 0.50 and a beta of 0.78. Tech Data has a 52 week low of $81.42 and a 52 week high of $111.10. The company has a quick ratio of 0.89, a current ratio of 1.35 and a debt-to-equity ratio of 0.66.
Tech Data (NASDAQ:TECD) last issued its earnings results on Monday, November 27th. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.90 by $0.10. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.10 billion. Tech Data had a net margin of 0.59% and a return on equity of 11.90%. The business’s revenue was up 40.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. equities research analysts forecast that Tech Data will post 9.14 earnings per share for the current year.
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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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