ValuEngine Lowers Tech Data (NASDAQ:TECD) to Sell

ValuEngine cut shares of Tech Data (NASDAQ:TECD) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, ValuEngine reports.

Several other equities analysts have also commented on TECD. Citigroup dropped their price target on shares of Tech Data from $105.00 to $100.00 and set a neutral rating on the stock in a research note on Friday, May 31st. BidaskClub upgraded shares of Tech Data from a sell rating to a hold rating in a research note on Thursday. Zacks Investment Research upgraded shares of Tech Data from a hold rating to a buy rating and set a $103.00 price target on the stock in a research note on Friday, May 24th. Finally, Stifel Nicolaus lowered shares of Tech Data from a buy rating to a hold rating and set a $105.00 price target on the stock. in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $99.60.

Tech Data stock traded down $6.16 during mid-day trading on Thursday, hitting $93.17. The company had a trading volume of 309,803 shares, compared to its average volume of 236,671. The stock has a market cap of $3.62 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 2.77 and a beta of 1.14. Tech Data has a 1 year low of $66.93 and a 1 year high of $111.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.26. The business has a fifty day moving average of $100.97.

Tech Data (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, May 30th. The company reported $2.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.06. The company had revenue of $8.41 billion for the quarter, compared to analyst estimates of $8.45 billion. Tech Data had a net margin of 0.98% and a return on equity of 15.28%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.84 earnings per share. As a group, equities analysts expect that Tech Data will post 11.98 EPS for the current year.

In other news, VP John A. Tonnison sold 4,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $102.30, for a total value of $409,200.00. Following the completion of the sale, the vice president now directly owns 29,657 shares of the company’s stock, valued at $3,033,911.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas I. Morgan sold 2,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $100.51, for a total value of $201,020.00. Following the completion of the sale, the director now directly owns 17,491 shares of the company’s stock, valued at $1,758,020.41. The disclosure for this sale can be found here. Insiders sold 8,200 shares of company stock valued at $819,858 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC lifted its holdings in shares of Tech Data by 84.0% during the first quarter. Advisory Services Network LLC now owns 241 shares of the company’s stock worth $25,000 after purchasing an additional 110 shares during the period. Personal Wealth Partners acquired a new stake in shares of Tech Data during the second quarter worth $26,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Tech Data during the second quarter worth $33,000. Quadrant Capital Group LLC lifted its holdings in shares of Tech Data by 602.6% during the first quarter. Quadrant Capital Group LLC now owns 541 shares of the company’s stock worth $53,000 after purchasing an additional 464 shares during the period. Finally, Resources Investment Advisors Inc. lifted its holdings in shares of Tech Data by 31.0% during the first quarter. Resources Investment Advisors Inc. now owns 550 shares of the company’s stock worth $56,000 after purchasing an additional 130 shares during the period. 99.54% of the stock is owned by institutional investors and hedge funds.

About Tech Data

Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.

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