A number of research firms have changed their ratings and price targets for Tech Data (NASDAQ: TECD):
- 9/12/2019 – Tech Data had its price target raised by analysts at Loop Capital to $130.00. They now have a “buy” rating on the stock.
- 9/6/2019 – Tech Data was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
- 8/30/2019 – Tech Data was given a new $100.00 price target on by analysts at Citigroup Inc. They now have a “hold” rating on the stock.
- 8/30/2019 – Tech Data was given a new $115.00 price target on by analysts at Northcoast Research. They now have a “buy” rating on the stock.
- 8/30/2019 – Tech Data was given a new $120.00 price target on by analysts at Loop Capital. They now have a “buy” rating on the stock.
- 8/28/2019 – Tech Data was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
- 8/28/2019 – Tech Data was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
- 8/23/2019 – Tech Data was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $95.00 price target on the stock. According to Zacks, “Shares of Tech Data have increased so far in the year, owing to its third straight quarter of earnings beat in first-quarter fiscal 2020. The company’s bottom line also registered double-digit growth year over year, backed by lower costs of products sold and reduced operating expenses. Going ahead, management issued a robust bottom-line view for second-quarter fiscal 2020. Tech Data is working toward being a more flexible and cost-effective organization with the Global Business Optimization Program. The increasing demand for data center systems, cloud and mobility products also bodes well. However, the top line missed the consensus mark and declined year over year due to sluggishness in the Europe region. This led to a dismal fiscal sales projection. Also, intense competition and headwinds related to data security act as deterrents.”
- 8/13/2019 – Tech Data was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 8/1/2019 – Tech Data was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
- 8/1/2019 – Tech Data was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
TECD traded up $0.15 during trading on Friday, reaching $105.23. 172,208 shares of the company were exchanged, compared to its average volume of 353,565. The company’s 50-day moving average is $93.66 and its two-hundred day moving average is $99.49. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 2.15 and a beta of 1.15. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.45. Tech Data Corp has a 12-month low of $66.93 and a 12-month high of $111.08.
Tech Data (NASDAQ:TECD) last issued its quarterly earnings data on Thursday, August 29th. The company reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.36. Tech Data had a return on equity of 15.96% and a net margin of 0.98%. The business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the firm posted $2.01 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts forecast that Tech Data Corp will post 12.46 earnings per share for the current year.
In related news, Director Thomas I. Morgan sold 2,000 shares of Tech Data stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $100.51, for a total transaction of $201,020.00. Following the sale, the director now directly owns 17,491 shares in the company, valued at $1,758,020.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles V. Dannewitz sold 1,050 shares of Tech Data stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $103.60, for a total value of $108,780.00. The disclosure for this sale can be found here. Insiders have sold 18,550 shares of company stock worth $1,926,570 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Advisory Services Network LLC grew its holdings in Tech Data by 84.0% during the first quarter. Advisory Services Network LLC now owns 241 shares of the company’s stock valued at $25,000 after purchasing an additional 110 shares during the period. Personal Wealth Partners bought a new stake in Tech Data during the 2nd quarter valued at $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Tech Data during the 2nd quarter valued at $33,000. Resources Investment Advisors Inc. lifted its holdings in shares of Tech Data by 31.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 550 shares of the company’s stock valued at $56,000 after purchasing an additional 130 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Tech Data during the 2nd quarter valued at $58,000. Institutional investors and hedge funds own 97.45% of the company’s stock.
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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