Northcoast Research lowered shares of Tech Data (NASDAQ:TECD) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports.
TECD has been the topic of a number of other research reports. Zacks Investment Research raised Tech Data from a sell rating to a hold rating and set a $95.00 price objective on the stock in a research report on Friday, August 23rd. Citigroup set a $100.00 price objective on Tech Data and gave the stock a hold rating in a research report on Friday, August 30th. ValuEngine raised Tech Data from a sell rating to a hold rating in a research report on Friday, November 29th. Loop Capital increased their price target on Tech Data to $150.00 and gave the company a buy rating in a research note on Thursday, October 17th. Finally, BidaskClub raised Tech Data from a hold rating to a buy rating in a report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $113.00.
Tech Data stock opened at $143.10 on Tuesday. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 12.57 and a beta of 1.20. The company has a current ratio of 1.26, a quick ratio of 0.87 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $130.79 and a 200 day moving average of $107.02. Tech Data has a 12-month low of $74.16 and a 12-month high of $145.25.
Tech Data (NASDAQ:TECD) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.03. The firm had revenue of $9.12 billion for the quarter, compared to the consensus estimate of $9.37 billion. Tech Data had a return on equity of 15.52% and a net margin of 0.92%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.02 earnings per share. On average, analysts predict that Tech Data will post 12.53 EPS for the current year.
In other Tech Data news, CAO Michael Rabinovitch sold 349 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $104.85, for a total transaction of $36,592.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its holdings in Tech Data by 49.0% in the second quarter. Advisory Services Network LLC now owns 359 shares of the company’s stock valued at $38,000 after buying an additional 118 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Tech Data during the 2nd quarter worth $58,000. Quantamental Technologies LLC bought a new stake in shares of Tech Data in the 2nd quarter worth about $77,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Tech Data in the 2nd quarter valued at about $110,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Tech Data in the 2nd quarter valued at about $115,000.
About Tech Data
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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