Tech Data Corp Given New $69.00 Price Target at Barclays (TECD)
Equities researchers at Barclays lifted their price target on shares of Tech Data Corp (NASDAQ:TECD) from $65.00 to $69.00 in a research report issued on Wednesday. Barclays’ target price would suggest a potential upside of 2.82% from the company’s current price.
Tech Data Corp (NASDAQ:TECD) traded up 1.11% during mid-day trading on Wednesday, hitting $67.11. 368,158 shares of the company’s stock traded hands. Tech Data Corp has a 52-week low of $48.35 and a 52-week high of $71.31. The stock has a 50-day moving average of $63.80 and a 200-day moving average of $61.30. The company has a market cap of $2.566 billion and a price-to-earnings ratio of 14.47.
Tech Data Corp (NASDAQ:TECD) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $1.12 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.77 by $0.35. The company had revenue of $6.84 billion for the quarter. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts predict that Tech Data Corp will post $4.96 earnings per share for the current fiscal year.
A number of other firms have also recently commented on TECD. Analysts at Brean Capital raised their price target on shares of Tech Data Corp from $70.00 to $73.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs raised their price target on shares of Tech Data Corp to $59.00 in a research note on Tuesday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Tech Data Corp in a research note on Friday, August 22nd. They now have a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.86.
Tech Data Corporation (NASDAQ:TECD) is a wholesale distributor of technology products.
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