Tech Data Corp (NASDAQ:TECD) has received an average rating of “Buy” from the eleven research firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $112.33.
Several equities research analysts recently weighed in on the stock. Needham & Company LLC increased their target price on shares of Tech Data from $102.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, November 28th. BidaskClub cut shares of Tech Data from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. ValuEngine upgraded shares of Tech Data from a “hold” rating to a “buy” rating in a research note on Wednesday, November 29th. Raymond James Financial reiterated a “hold” rating on shares of Tech Data in a research note on Tuesday, November 28th. Finally, Citigroup reiterated a “hold” rating and issued a $110.00 target price on shares of Tech Data in a research note on Tuesday, November 28th.
In related news, COO Richard T. Hume sold 3,100 shares of the 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 Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Tech Data by 1.6% in the fourth quarter. BlackRock Inc. now owns 3,746,695 shares of the company’s stock worth $367,063,000 after purchasing an additional 59,230 shares in the last quarter. LSV Asset Management raised its position in Tech Data by 5.9% in the fourth quarter. LSV Asset Management now owns 1,479,480 shares of the company’s stock worth $144,944,000 after purchasing an additional 82,640 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Tech Data in the third quarter worth about $76,672,000. Victory Capital Management Inc. raised its position in Tech Data by 20.2% in the fourth quarter. Victory Capital Management Inc. now owns 745,119 shares of the company’s stock worth $73,000,000 after purchasing an additional 125,399 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in Tech Data by 0.5% in the fourth quarter. Macquarie Group Ltd. now owns 657,627 shares of the company’s stock worth $64,428,000 after purchasing an additional 3,119 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.
Tech Data (NASDAQ:TECD) traded up $0.07 during midday trading on Tuesday, hitting $99.10. 275,000 shares of the company traded hands, compared to its average volume of 254,096. The company has a current ratio of 1.35, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. Tech Data has a twelve month low of $81.42 and a twelve month high of $111.10. The company has a market capitalization of $3,780.99, a PE ratio of 18.88, a PEG ratio of 0.43 and a beta of 0.69.
Tech Data (NASDAQ:TECD) last released its earnings results on Monday, November 27th. The company reported $2.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.10. Tech Data had a net margin of 0.59% and a return on equity of 11.90%. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter last year, the company earned $1.44 earnings per share. The firm’s revenue was up 40.8% on a year-over-year basis. sell-side analysts predict that Tech Data will post 9.14 earnings per share for the current year.
Tech Data 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.
Receive News & Ratings for Tech Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data and related companies with MarketBeat.com's FREE daily email newsletter.