Tech Data (NASDAQ:TECD) was downgraded by Northcoast Research from a “buy” rating to a “neutral” rating in a report released on Tuesday, December 10th, Marketbeat.com reports.
TECD has been the subject of a number of other research reports. ValuEngine upgraded Tech Data from a “sell” rating to a “hold” rating in a research report on Friday, November 29th. BidaskClub upgraded Tech Data from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Zacks Investment Research upgraded Tech Data from a “sell” rating to a “hold” rating and set a $95.00 target price for the company in a report on Friday, August 23rd. Loop Capital upped their price target on shares of Tech Data to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Citigroup set a $100.00 price target on shares of Tech Data and gave the stock a “hold” rating in a research note on Friday, August 30th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $113.00.
NASDAQ TECD traded up $0.34 on Tuesday, hitting $143.94. 469,548 shares of the stock traded hands, compared to its average volume of 700,020. Tech Data has a twelve month low of $80.20 and a twelve month high of $145.25. The company has a market capitalization of $5.10 billion, a P/E ratio of 12.65 and a beta of 1.21. The stock has a 50-day moving average of $139.24 and a 200 day moving average of $112.42. The company has a current ratio of 1.26, a quick ratio of 0.87 and a debt-to-equity ratio of 0.44.
Tech Data (NASDAQ:TECD) last released its earnings results on Tuesday, November 26th. The company reported $3.02 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.03. Tech Data had a return on equity of 15.52% and a net margin of 0.92%. The firm had revenue of $9.12 billion during the quarter, compared to the consensus estimate of $9.37 billion. During the same period in the prior year, the firm posted $3.02 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities research analysts expect that Tech Data will post 12.53 earnings per share for the current year.
In related news, CAO Michael Rabinovitch sold 349 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $104.85, for a total value of $36,592.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TECD. Country Club Trust Company n.a. lifted its position in Tech Data by 3.0% in the 3rd quarter. Country Club Trust Company n.a. now owns 3,327 shares of the company’s stock valued at $343,000 after acquiring an additional 97 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Tech Data by 1.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,900 shares of the company’s stock worth $722,000 after buying an additional 100 shares in the last quarter. Advisory Services Network LLC lifted its position in Tech Data by 49.0% during the 2nd quarter. Advisory Services Network LLC now owns 359 shares of the company’s stock worth $38,000 after buying an additional 118 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Tech Data by 2.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,294 shares of the company’s stock worth $865,000 after buying an additional 190 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Tech Data by 9.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,323 shares of the company’s stock worth $242,000 after purchasing an additional 206 shares during the last quarter.
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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