Several other brokerages have also recently issued reports on TECD. Zacks Investment Research cut Tech Data Corp. from a buy rating to a hold rating in a report on Tuesday, July 26th. Stifel Nicolaus raised Tech Data Corp. from a hold rating to a buy rating and upped their price objective for the stock from $75.00 to $96.00 in a report on Tuesday. Raymond James Financial Inc. reaffirmed a market perform rating on shares of Tech Data Corp. in a report on Wednesday, June 29th. Northcoast Research assumed coverage on Tech Data Corp. in a report on Wednesday, August 10th. They set a neutral rating on the stock. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Tech Data Corp. in a report on Friday, August 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Tech Data Corp. has a consensus rating of Hold and a consensus target price of $90.87.
Tech Data Corp. (NASDAQ:TECD) traded down 0.68% during mid-day trading on Thursday, reaching $87.90. 34,716 shares of the company traded hands. Tech Data Corp. has a 12-month low of $57.99 and a 12-month high of $88.70. The firm has a market capitalization of $3.10 billion, a P/E ratio of 14.27 and a beta of 0.95. The company’s 50 day moving average price is $77.18 and its 200 day moving average price is $74.80.
Tech Data Corp. (NASDAQ:TECD) last posted its quarterly earnings results on Thursday, August 25th. The company reported $1.42 EPS for the quarter, missing the Zacks’ consensus estimate of $1.43 by $0.01. Tech Data Corp. had a return on equity of 10.39% and a net margin of 0.83%. The business earned $6.35 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same period in the prior year, the firm posted $1.43 earnings per share. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities research analysts predict that Tech Data Corp. will post $5.97 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Tech Data Corp. during the fourth quarter valued at approximately $35,917,000. FMR LLC increased its position in shares of Tech Data Corp. by 14.4% in the second quarter. FMR LLC now owns 4,077,520 shares of the company’s stock valued at $292,970,000 after buying an additional 511,893 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of Tech Data Corp. during the second quarter valued at approximately $32,170,000. JPMorgan Chase & Co. increased its position in shares of Tech Data Corp. by 73.3% in the first quarter. JPMorgan Chase & Co. now owns 850,627 shares of the company’s stock valued at $65,302,000 after buying an additional 359,668 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Tech Data Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 3,525,069 shares of the company’s stock valued at $253,276,000 after buying an additional 332,980 shares during the period.
About Tech Data Corp.
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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