Tech Data Corp. (TECD) Upgraded to “Buy” by Bank of America Corp.
Tech Data Corp. (NASDAQ:TECD) was upgraded by Bank of America Corp. from a “neutral” rating to a “buy” rating in a research report issued on Tuesday.
A number of other research analysts have also recently commented on the stock. Credit Agricole SA upgraded shares of Tech Data Corp. from an “underperform” rating to a “buy” rating in a research report on Tuesday. Stifel Nicolaus upgraded shares of Tech Data Corp. from a “hold” rating to a “buy” rating and increased their price target for the company from $75.00 to $96.00 in a research report on Tuesday. Zacks Investment Research cut shares of Tech Data Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Brean Capital reiterated a “buy” rating and set a $82.00 price target on shares of Tech Data Corp. in a research report on Monday, May 23rd. Finally, Raymond James Financial Inc. reiterated a “market perform” rating on shares of Tech Data Corp. in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Tech Data Corp. has a consensus rating of “Hold” and a consensus target price of $78.35.
Tech Data Corp. (NASDAQ:TECD) opened at 84.80 on Tuesday. The company has a 50-day moving average of $76.34 and a 200 day moving average of $74.57. The company has a market cap of $2.99 billion, a P/E ratio of 13.77 and a beta of 0.95. Tech Data Corp. has a one year low of $57.99 and a one year high of $85.58.
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Tech Data Corp. (NASDAQ:TECD) last posted its quarterly earnings data 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 company earned $6.35 billion during the quarter, compared to the consensus estimate of $6.63 billion. Tech Data Corp. had a return on equity of 10.39% and a net margin of 0.83%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the company posted $1.43 earnings per share. Equities research analysts predict that Tech Data Corp. will post $5.94 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Weaver C. Barksdale & Associates Inc. raised its stake 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 during the period. LS Investment Advisors LLC raised its stake in shares of 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 during the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Tech Data Corp. during the first quarter worth approximately $199,000. Jane Street Group LLC acquired a new stake in shares of Tech Data Corp. during the second quarter worth approximately $208,000. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of 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 during 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.
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