Tech Data (TECD) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Tech Data (NASDAQ:TECD) from a sell rating to a hold rating in a research report report published on Saturday.

A number of other analysts have also recently weighed in on TECD. ValuEngine raised shares of Tech Data from a hold rating to a buy rating in a report on Wednesday, November 29th. Needham & Company LLC increased their price objective on shares of Tech Data from $102.00 to $110.00 and gave the stock a buy rating in a report on Tuesday, November 28th. Pivotal Research set a $114.00 price objective on shares of Tech Data and gave the stock a buy rating in a report on Tuesday, November 28th. Raymond James Financial reaffirmed a hold rating on shares of Tech Data in a report on Tuesday, November 28th. Finally, Citigroup reaffirmed a hold rating and issued a $110.00 price objective on shares of Tech Data in a report on Tuesday, November 28th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Tech Data has a consensus rating of Buy and a consensus price target of $112.33.

Shares of Tech Data (NASDAQ:TECD) opened at $99.10 on Friday. The firm has a market cap of $3,780.00, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 0.43 and a beta of 0.69. Tech Data has a twelve month low of $81.42 and a twelve month high of $111.10. The company has a current ratio of 1.35, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

Tech Data (NASDAQ:TECD) last issued its earnings results on Monday, November 27th. The company reported $2.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.10. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Tech Data had a net margin of 0.59% and a return on equity of 11.90%. The firm’s revenue was up 40.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.44 earnings per share. sell-side analysts anticipate that Tech Data will post 9.14 EPS for the current fiscal year.

In related news, COO Richard T. Hume sold 3,100 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $98.06, for a total value of $303,986.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Tech Data by 39.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,085 shares of the company’s stock valued at $204,000 after buying an additional 595 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in Tech Data in the 4th quarter valued at about $204,000. Creative Planning bought a new position in Tech Data in the 4th quarter valued at about $205,000. CAPROCK Group Inc. bought a new position in Tech Data in the 4th quarter valued at about $226,000. Finally, Advisors Preferred LLC bought a new position in Tech Data in the 4th quarter valued at about $214,000. Hedge funds and other institutional investors own 98.68% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This news story was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this news story on another website, it was illegally stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://stocknewstimes.com/2018/02/18/tech-data-tecd-rating-increased-to-hold-at-bidaskclub.html.

About Tech Data

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.

Analyst Recommendations for Tech Data (NASDAQ:TECD)

Receive News & Ratings for Tech Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply