Tech Data Corp (NASDAQ:TECD) has been given an average rating of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $97.00.
Several brokerages recently commented on TECD. BidaskClub downgraded shares of Tech Data from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research downgraded shares of Tech Data from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, Stifel Nicolaus downgraded shares of Tech Data from a “buy” rating to a “hold” rating and set a $105.00 price target on the stock. in a report on Wednesday, April 17th.
In other Tech Data news, VP David R. Vetter sold 6,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $98.12, for a total value of $588,720.00. Following the transaction, the vice president now directly owns 36,570 shares in the company, valued at approximately $3,588,248.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert M. Dutkowsky sold 2,100 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $108.02, for a total transaction of $226,842.00. The disclosure for this sale can be found here. Insiders sold a total of 61,141 shares of company stock worth $6,446,465 over the last 90 days. Insiders own 1.10% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Enlightenment Research LLC purchased a new stake in shares of Tech Data in the 4th quarter worth approximately $25,000. Advisory Services Network LLC lifted its position in shares of Tech Data by 84.0% in the 1st quarter. Advisory Services Network LLC now owns 241 shares of the company’s stock worth $25,000 after purchasing an additional 110 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in shares of Tech Data in the 1st quarter worth approximately $29,000. US Bancorp DE lifted its position in shares of Tech Data by 68.0% in the 1st quarter. US Bancorp DE now owns 341 shares of the company’s stock worth $35,000 after purchasing an additional 138 shares during the period. Finally, Fort L.P. purchased a new stake in shares of Tech Data in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 98.82% of the company’s stock.
NASDAQ:TECD traded down $4.93 during mid-day trading on Thursday, hitting $91.99. 421,805 shares of the stock traded hands, compared to its average volume of 360,370. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 3.87 and a beta of 0.96. Tech Data has a 52 week low of $66.93 and a 52 week high of $111.08. The company has a current ratio of 1.24, a quick ratio of 0.86 and a debt-to-equity ratio of 0.44.
Tech Data (NASDAQ:TECD) last issued its quarterly earnings results on Thursday, March 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.03 by $0.52. The company had revenue of $10.47 billion for the quarter, compared to the consensus estimate of $10.63 billion. Tech Data had a net margin of 0.91% and a return on equity of 15.17%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.50 EPS. As a group, equities analysts forecast that Tech Data will post 11.77 EPS for the current fiscal year.
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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