Tech Data Corp Reaches New 1-Year High at $66.35 (TECD)
Tech Data Corp (NASDAQ:TECD)’s share price hit a new 52-week high during trading on Thursday , StockRatingsNetwork.com reports. The stock traded as high as $66.35 and last traded at $66.26, with a volume of 49,401 shares trading hands. The stock had previously closed at $65.62.
A number of analysts have recently weighed in on TECD shares. Analysts at Bank of America upgraded shares of Tech Data Corp from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 16th. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Tech Data Corp in a research note on Friday, May 30th. They now have a $62.00 price target on the stock, down previously from $66.00. Finally, 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, May 30th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $65.20.
The stock’s 50-day moving average is $63.54 and its 200-day moving average is $60.88. The company has a market cap of $2.535 billion and a price-to-earnings ratio of 14.31.
Tech Data Corp (NASDAQ:TECD) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.72 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.66 earnings per share. Tech Data Corp’s revenue was up 9.4% compared to the same quarter last year. On average, analysts predict that Tech Data Corp will post $4.82 earnings per share for the current fiscal year.
Tech Data Corporation (NASDAQ:TECD) is a wholesale distributor of technology products.
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