Shares of Tech Data Corp (NASDAQ:TECD) have earned a consensus recommendation of “Buy” from the eleven brokerages that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $112.33.
A number of equities analysts have recently weighed in on TECD shares. Zacks Investment Research raised shares of Tech Data from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Citigroup reaffirmed a “hold” rating and issued a $110.00 price target on shares of Tech Data in a research note on Tuesday, November 28th. Needham & Company LLC upped their price target on shares of Tech Data from $102.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Pivotal Research set a $114.00 price target on shares of Tech Data and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Finally, Raymond James Financial reaffirmed a “hold” rating 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 company’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.60% of the company’s stock.
A number of large investors have recently modified their holdings of TECD. Alyeska Investment Group L.P. bought a new stake in Tech Data in the third quarter worth $76,672,000. Janus Henderson Group PLC boosted its holdings in Tech Data by 55.3% in the third quarter. Janus Henderson Group PLC now owns 553,016 shares of the company’s stock worth $49,135,000 after purchasing an additional 196,834 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Tech Data by 8,012.5% in the fourth quarter. Schroder Investment Management Group now owns 194,700 shares of the company’s stock worth $19,075,000 after purchasing an additional 192,300 shares in the last quarter. Advisory Research Inc. bought a new stake in Tech Data in the fourth quarter worth $13,940,000. Finally, Wells Fargo & Company MN boosted its holdings in Tech Data by 163.1% during the third quarter. Wells Fargo & Company MN now owns 215,384 shares of the company’s stock valued at $19,137,000 after acquiring an additional 133,530 shares during the period. Hedge funds and other institutional investors own 99.27% of the company’s stock.
Tech Data (NASDAQ TECD) traded up $0.07 during midday trading on Tuesday, hitting $99.10. 275,000 shares of the stock were exchanged, compared to its average volume of 254,096. Tech Data has a 1-year low of $81.42 and a 1-year high of $111.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.35 and a quick ratio of 0.89. The firm has a market capitalization of $3,780.99, a P/E ratio of 18.88, a PEG ratio of 0.43 and a beta of 0.69.
Tech Data (NASDAQ:TECD) last posted its quarterly earnings results on Monday, November 27th. The company reported $2.00 earnings per share for the quarter, topping the Zacks’ 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 for the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the prior year, the business posted $1.44 earnings per share. Tech Data’s revenue for the quarter was up 40.8% compared to the same quarter last year. analysts anticipate that Tech Data will post 9.14 EPS for the current fiscal 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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