Credit Agricole SA upgraded shares of Tech Data Corp. (NASDAQ:TECD) from an underperform rating to a buy rating in a report issued on Tuesday morning. The brokerage currently has $102.00 target price on the stock, up from their prior target price of $76.00.
Other research analysts also recently issued reports about the company. Brean Capital reaffirmed a buy rating and set a $82.00 target price on shares of Tech Data Corp. in a report on Monday, May 23rd. Stifel Nicolaus raised Tech Data Corp. from a hold rating to a buy rating and lifted their target price for the stock from $75.00 to $96.00 in a report on Tuesday, September 20th. Zacks Investment Research raised Tech Data Corp. from a sell rating to a hold rating in a report on Thursday, September 15th. Needham & Company LLC reaffirmed a hold rating on shares of Tech Data Corp. in a report on Friday, August 26th. Finally, Raymond James Financial Inc. reissued a market perform rating on shares of Tech Data Corp. in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Tech Data Corp. has an average rating of Hold and an average price target of $90.87.
Tech Data Corp. (NASDAQ:TECD) opened at 87.31 on Tuesday. The firm has a market capitalization of $3.07 billion, a PE ratio of 14.18 and a beta of 0.95. Tech Data Corp. has a 12 month low of $57.99 and a 12 month high of $88.70. The company’s 50-day moving average price is $77.50 and its 200 day moving average price is $74.87.
Tech Data Corp. (NASDAQ:TECD) last announced its earnings results on Thursday, August 25th. The company reported $1.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by $0.01. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.63 billion. Tech Data Corp. had a return on equity of 10.39% and a net margin of 0.83%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 earnings per share. On average, equities research analysts predict that Tech Data Corp. will post $5.94 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of TECD. Macquarie Group Ltd. raised its stake in shares of Tech Data Corp. by 2.8% in the second quarter. Macquarie Group Ltd. now owns 667,822 shares of the company’s stock worth $47,983,000 after buying an additional 18,286 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Tech Data Corp. by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,077 shares of the company’s stock worth $437,000 after buying an additional 27 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in shares of Tech Data Corp. during the second quarter worth approximately $1,153,000. Sterling Capital Management LLC raised its stake in shares of Tech Data Corp. by 0.6% in the second quarter. Sterling Capital Management LLC now owns 14,095 shares of the company’s stock worth $1,013,000 after buying an additional 80 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Tech Data Corp. by 11.2% in the second quarter. Stifel Financial Corp now owns 26,442 shares of the company’s stock worth $1,899,000 after buying an additional 2,661 shares during the last quarter.
Tech Data Corp. Company Profile
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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