Tech Data (NASDAQ:TECD) was downgraded by stock analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, December 10th, MarketBeat.com reports.
Several other analysts also recently weighed in on TECD. Zacks Investment Research raised 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. BidaskClub raised Tech Data from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Loop Capital boosted their target price on Tech Data to $150.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Citigroup set a $100.00 target price on Tech Data and gave the company a “hold” rating in a report on Friday, August 30th. Finally, ValuEngine raised Tech Data from a “sell” rating to a “hold” rating in a report on Friday, November 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $113.00.
NASDAQ TECD traded down $0.29 during trading on Tuesday, reaching $143.65. 452,417 shares of the company’s stock were exchanged, compared to its average volume of 546,998. The stock has a market cap of $5.10 billion, a P/E ratio of 11.70 and a beta of 1.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.87 and a current ratio of 1.26. The company has a 50 day moving average price of $139.76 and a two-hundred day moving average price of $112.89. Tech Data has a 1 year low of $80.20 and a 1 year high of $145.25.
Tech Data (NASDAQ:TECD) last announced its quarterly earnings results on Tuesday, November 26th. The company reported $3.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.99 by $0.03. Tech Data had a return on equity of 15.52% and a net margin of 0.92%. The company had revenue of $9.12 billion during the quarter, compared to the consensus estimate of $9.37 billion. During the same period in the previous year, the business earned $3.02 EPS. Tech Data’s revenue for the quarter was down 2.4% on a year-over-year basis. Research analysts forecast that Tech Data will post 12.53 EPS for the current fiscal year.
In other Tech Data news, CAO Michael Rabinovitch sold 349 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $104.85, for a total transaction of $36,592.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Tech Data by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 3,853,331 shares of the company’s stock valued at $403,058,000 after acquiring an additional 99,380 shares during the last quarter. JPMorgan Chase & Co. increased its position in Tech Data by 31.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,386,528 shares of the company’s stock worth $142,161,000 after purchasing an additional 334,938 shares during the period. Prudential Financial Inc. increased its position in Tech Data by 9.3% during the 2nd quarter. Prudential Financial Inc. now owns 715,754 shares of the company’s stock worth $74,867,000 after purchasing an additional 61,074 shares during the period. Northern Trust Corp increased its position in Tech Data by 0.5% during the 2nd quarter. Northern Trust Corp now owns 707,388 shares of the company’s stock worth $73,993,000 after purchasing an additional 3,289 shares during the period. Finally, Invesco Ltd. increased its position in Tech Data by 87.2% during the 2nd quarter. Invesco Ltd. now owns 622,901 shares of the company’s stock worth $65,155,000 after purchasing an additional 290,160 shares during the period.
Tech Data Company Profile
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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