Tech Data Corp (NASDAQ:TECD) has received a consensus rating of “Buy” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $112.33.
TECD has been the subject of several research reports. BidaskClub downgraded Tech Data from a “buy” rating to a “hold” rating in a research note on Thursday. ValuEngine raised Tech Data from a “hold” rating to a “buy” rating in a research note on Wednesday, November 29th. Raymond James Financial reaffirmed a “hold” rating on shares of Tech Data in a research note on Tuesday, November 28th. Pivotal Research set a $114.00 price target on Tech Data and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Finally, Needham & Company LLC lifted their price target on Tech Data from $102.00 to $110.00 and gave the stock a “buy” rating in a research note 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TECD. Alyeska Investment Group L.P. acquired a new position in shares of Tech Data during the 3rd quarter valued at about $76,672,000. Janus Henderson Group PLC purchased a new stake in shares of Tech Data during the 2nd quarter worth about $35,974,000. Numeric Investors LLC grew its holdings in shares of Tech Data by 1,589.9% during the 2nd quarter. Numeric Investors LLC now owns 326,156 shares of the company’s stock worth $32,942,000 after purchasing an additional 306,856 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Tech Data by 702.2% during the 2nd quarter. Renaissance Technologies LLC now owns 184,842 shares of the company’s stock worth $18,669,000 after purchasing an additional 161,800 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Tech Data by 163.1% during the 3rd quarter. Wells Fargo & Company MN now owns 215,384 shares of the company’s stock worth $19,137,000 after purchasing an additional 133,530 shares during the period. 98.18% of the stock is owned by hedge funds and other institutional investors.
Tech Data (NASDAQ TECD) traded up $0.05 during trading hours on Friday, reaching $103.62. 14,913 shares of the company were exchanged, compared to its average volume of 230,491. The stock has a market cap of $3,951.53, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 0.52 and a beta of 0.78. Tech Data has a 1 year low of $81.42 and a 1 year high of $111.10. 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 (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 anticipate that Tech Data will post 9.14 earnings per share for the current year.
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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.
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