Insider Buying: Tech Data Corp Director Acquires 4,500 Shares of Stock (TECD)
Tech Data Corp (NASDAQ:TECD) Director Derek Michael Ridout purchased 4,500 shares of the company’s stock on the open market in a transaction dated Thursday, May 22nd. The shares were purchased at an average cost of $0.84 per share, with a total value of $3,780.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on TECD shares. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Tech Data Corp in a research note on Friday. They now have a $62.00 price target on the stock, down previously from $66.00. Separately, analysts at Raymond James raised their price target on shares of Tech Data Corp from $68.00 to $70.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Credit Agricole downgraded shares of Tech Data Corp from an “outperform” rating to an “underperform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $64.43.
Tech Data Corp (NASDAQ:TECD) opened at 59.51 on Friday. Tech Data Corp has a 1-year low of $46.04 and a 1-year high of $65.98. The stock’s 50-day moving average is $62.60 and its 200-day moving average is $56.59. The company has a market cap of $2.272 billion and a P/E ratio of 12.79.
Tech Data Corp (NASDAQ:TECD) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by $0.20. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.48 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts predict that Tech Data Corp will post $5.48 earnings per share for the current fiscal year.
Tech Data Corporation (NASDAQ:TECD) is a wholesale distributor of technology products.
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