Tech Data Corp Receives Average Recommendation of “Buy” from Brokerages (NASDAQ:TECD)
Shares of Tech Data Corp (NASDAQ:TECD) have earned an average rating of “Buy” from the nine ratings firms that are covering the stock, AmericanBankingNews.com reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $65.14.
A number of analysts have recently weighed in on TECD shares. Analysts at Goldman Sachs initiated coverage on shares of Tech Data Corp in a research note on Thursday. They set a “neutral” rating and a $54.00 price target on the stock. Separately, analysts at Raymond James upgraded shares of Tech Data Corp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 29th. They now have a $68.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Tech Data Corp in a research note on Monday, April 14th. They now have a $64.00 price target on the stock.
Shares of Tech Data Corp (NASDAQ:TECD) traded up 0.24% during mid-day trading on Thursday, hitting $63.00. 41,538 shares of the company’s stock traded hands. Tech Data Corp has a one year low of $46.04 and a one year high of $65.98. The stock has a 50-day moving average of $62.68 and a 200-day moving average of $56.18. The company has a market cap of $2.405 billion and a price-to-earnings ratio of 13.34.
Tech Data Corp (NASDAQ:TECD) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.17. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.98 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts predict that Tech Data Corp will post $5.52 earnings per share for the current fiscal year.
Tech Data Corporation (NASDAQ:TECD) is a wholesale distributor of technology products.
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