Stifel Nicolaus upgraded shares of Tech Data Corp. (NASDAQ:TECD) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. The brokerage currently has $96.00 price objective on the stock, up from their prior price objective of $75.00.
A number of other research analysts also recently issued reports on TECD. Brean Capital restated a buy rating and set a $82.00 price target on shares of Tech Data Corp. in a research note on Monday, May 23rd. Citigroup Inc. lifted their target price on Tech Data Corp. from $55.00 to $59.00 and gave the company a sell rating in a research note on Friday, May 27th. Zacks Investment Research upgraded Tech Data Corp. from a sell rating to a hold rating and set a $85.00 target price on the stock in a research note on Monday, May 30th. Raymond James Financial Inc. reiterated a market perform rating on shares of Tech Data Corp. in a research note on Wednesday, June 29th. Finally, Northcoast Research assumed coverage on Tech Data Corp. in a research note on Wednesday, August 10th. They issued a neutral rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price 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 P/E ratio of 14.18 and a beta of 0.95. Tech Data Corp. has a 52 week low of $57.99 and a 52 week high of $88.70. The stock’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 released its quarterly earnings results on Thursday, August 25th. The company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by $0.01. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.63 billion. Tech Data Corp. had a return on equity of 10.39% and a net margin of 0.83%. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 EPS. On average, equities analysts expect that Tech Data Corp. will post $5.94 EPS for the current year.
Several hedge funds have recently bought and sold shares of the stock. Weaver C. Barksdale & Associates Inc. increased its stake in Tech Data Corp. by 7.2% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 1,473 shares of the company’s stock worth $106,000 after buying an additional 99 shares during the period. LS Investment Advisors LLC increased its stake in Tech Data Corp. by 71.9% in the second quarter. LS Investment Advisors LLC now owns 2,102 shares of the company’s stock worth $151,000 after buying an additional 879 shares during the period. Acrospire Investment Management LLC acquired a new stake in Tech Data Corp. during the first quarter worth $199,000. Jane Street Group LLC acquired a new stake in Tech Data Corp. during the second quarter worth $208,000. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Tech Data Corp. by 18.5% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,200 shares of the company’s stock worth $230,000 after buying an additional 500 shares during the period.
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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