Shares of Tech Data Corp (NASDAQ:TECD) have earned an average rating of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $99.86.
A number of equities research analysts have issued reports on the stock. BidaskClub raised shares of Tech Data from a “sell” rating to a “hold” rating in a report on Friday, October 5th. ValuEngine raised shares of Tech Data from a “sell” rating to a “hold” rating in a report on Friday, November 30th. Zacks Investment Research reaffirmed a “hold” rating and set a $82.00 price objective on shares of Tech Data in a report on Friday, November 16th. TheStreet lowered shares of Tech Data from a “b-” rating to a “c+” rating in a report on Monday, October 1st. Finally, Needham & Company LLC increased their price objective on shares of Tech Data to $110.00 and gave the company a “buy” rating in a report on Friday, November 30th.
Tech Data stock traded up $2.62 during midday trading on Friday, hitting $91.99. The stock had a trading volume of 18,095 shares, compared to its average volume of 447,229. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 0.93 and a beta of 0.80. Tech Data has a 52-week low of $66.93 and a 52-week high of $108.62. The company has a current ratio of 1.24, a quick ratio of 0.85 and a debt-to-equity ratio of 0.46.
Tech Data (NASDAQ:TECD) last released its earnings results on Thursday, November 29th. The company reported $3.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.85. The company had revenue of $9.34 billion during the quarter, compared to analyst estimates of $8.92 billion. Tech Data had a net margin of 0.59% and a return on equity of 13.92%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.00 EPS. On average, analysts predict that Tech Data will post 10.94 EPS for the current year.
Tech Data declared that its board has authorized a share repurchase plan on Tuesday, October 2nd that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
In related news, VP John A. Tonnison sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $87.04, for a total value of $435,200.00. Following the completion of the transaction, the vice president now directly owns 30,423 shares of the company’s stock, valued at $2,648,017.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles E. Adair sold 2,715 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $90.72, for a total transaction of $246,304.80. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. First Hawaiian Bank purchased a new position in shares of Tech Data in the fourth quarter valued at $48,000. Quantbot Technologies LP lifted its position in Tech Data by 192.5% in the third quarter. Quantbot Technologies LP now owns 1,977 shares of the company’s stock worth $141,000 after buying an additional 1,301 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Tech Data by 2,041.0% in the third quarter. Tower Research Capital LLC TRC now owns 4,539 shares of the company’s stock worth $325,000 after buying an additional 4,327 shares during the last quarter. Riverhead Capital Management LLC lifted its position in Tech Data by 33.3% in the third quarter. Riverhead Capital Management LLC now owns 4,803 shares of the company’s stock worth $344,000 after buying an additional 1,200 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC bought a new stake in Tech Data in the third quarter worth $366,000. 99.80% of the stock is owned by hedge funds and other institutional investors.
Tech Data Company Profile
Tech Data Corporation engages in the wholesale distribution of technology products. It offers endpoint portfolio solutions, including PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics; and advanced portfolio solutions, such as storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
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