Tech Data Corp’s Neutral Rating Reiterated at Zacks (TECD)
Tech Data Corp (NASDAQ:TECD)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Friday. They currently have a $70.00 price target on the stock. Zacks‘s price target suggests a potential upside of 5.58% from the stock’s previous close.
Shares of Tech Data Corp (NASDAQ:TECD) traded down 0.53% on Friday, hitting $65.95. The stock had a trading volume of 122,202 shares. Tech Data Corp has a 52-week low of $48.35 and a 52-week high of $66.54. The stock has a 50-day moving average of $63.62 and a 200-day moving average of $60.92. The company has a market cap of $2.522 billion and a P/E ratio of 14.45.
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. Analysts expect that Tech Data Corp will post $4.82 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. 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, five have assigned a hold rating and four have issued a buy rating to the stock. Tech Data Corp presently has a consensus rating of “Hold” and a consensus price target of $66.00.
Tech Data Corporation (NASDAQ:TECD) is a wholesale distributor of technology products.
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