Tech Data Corp. (NASDAQ:TECD) was upgraded by Bank of America Corp. from a “neutral” rating to a “buy” rating in a research note issued on Tuesday.

Several other brokerages also recently weighed in on TECD. Credit Agricole SA upgraded shares of Tech Data Corp. from an “underperform” rating to a “buy” rating in a research note on Tuesday. Stifel Nicolaus upgraded shares of Tech Data Corp. from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $96.00 in a research note on Tuesday. Northcoast Research began coverage on shares of Tech Data Corp. in a research note on Wednesday, August 10th. They issued a “neutral” rating for the company. Zacks Investment Research downgraded shares of Tech Data Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, Citigroup Inc. raised their target price on shares of Tech Data Corp. from $55.00 to $59.00 and gave the company a “sell” rating in a research note on Friday, May 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $78.35.

Analyst Recommendations for Tech Data Corp. (NASDAQ:TECD)

Shares of Tech Data Corp. (NASDAQ:TECD) opened at 84.80 on Tuesday. Tech Data Corp. has a 52 week low of $57.99 and a 52 week high of $85.58. The firm has a 50-day moving average price of $76.34 and a 200-day moving average price of $74.57. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 13.77 and a beta of 0.95.

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Tech Data Corp. (NASDAQ:TECD) last announced its earnings results on Thursday, August 25th. The company reported $1.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by $0.01. The firm earned $6.35 billion during the quarter, compared to analyst estimates of $6.63 billion. Tech Data Corp. had a net margin of 0.83% and a return on equity of 10.39%. Tech Data Corp.’s revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the business earned $1.43 earnings per share. On average, equities analysts anticipate that Tech Data Corp. will post $5.94 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Weaver C. Barksdale & Associates Inc. increased its position in Tech Data Corp. by 7.2% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 1,473 shares of the company’s stock worth $106,000 after buying an additional 99 shares in the last quarter. LS Investment Advisors LLC increased its position in Tech Data Corp. by 71.9% in the second quarter. LS Investment Advisors LLC now owns 2,102 shares of the company’s stock worth $151,000 after buying an additional 879 shares in the last quarter. Acrospire Investment Management LLC increased its position in Tech Data Corp. by 3.9% in the second quarter. Acrospire Investment Management LLC now owns 2,694 shares of the company’s stock worth $194,000 after buying an additional 100 shares in the last quarter. Jane Street Group LLC acquired a new position in Tech Data Corp. during the second quarter worth about $208,000. Finally, Fuller & Thaler Asset Management Inc. increased its position in Tech Data Corp. by 18.5% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,200 shares of the company’s stock worth $230,000 after buying an additional 500 shares in the last quarter.

Tech Data Corp. Company Profile

Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.

5 Day Chart for NASDAQ:TECD

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