Several brokerages have updated their recommendations and price targets on shares of Tech Data Corp. (NASDAQ: TECD) in the last few weeks:

  • 9/20/2016 – Tech Data Corp. was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $96.00 price target on the stock, up previously from $75.00.
  • 9/20/2016 – Tech Data Corp. was upgraded by analysts at Credit Agricole SA from an “underperform” rating to a “buy” rating.
  • 9/20/2016 – Tech Data Corp. was upgraded by analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating.
  • 9/15/2016 – Tech Data Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Tech Data has been undertaking strategic initiatives to review and strengthen its operations including collaboration with new vendors and expansion of its product offerings. The company recently collaborated with players like NetEnrich to offer solutions for Microsoft Azure and Enterprise Mobility Suite (EMS). This apart, Tech Data has been focusing on developing its capabilities in integrated supply chain, value-added services, data center, cloud and consumer electronics and cost-control measures. The company has also been collaborating with players like NetEnrich to expand its offerings. However, a sluggish demand environment due to weakness in overall IT spending remain concerns. In addition, intensifying competition and significant customer concentration risks add to its woes.”
  • 8/30/2016 – Tech Data Corp. was upgraded by analysts at Bank of America Corp. from an “underperform” rating to a “neutral” rating. They now have a $80.00 price target on the stock, up previously from $67.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 8/26/2016 – Tech Data Corp. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Tech Data reported dismal second-quarter fiscal 2017 results owing to weaker-than-expected demand. Both non-GAAP earnings of $1.42 per share and revenues of $6.353 billion missed their respective Zacks Consensus Estimate of $1.44 and $6.612 billion. On a year-over-year basis, earnings and revenues were down nearly 1% and 3.4%, respectively. Going ahead, the overall IT spending outlook remains cautious. Intensifying competition and significant customer concentration risks add to its woes. Nonetheless, Tech Data has been undertaking strategic initiatives to review and strengthen its operations including collaboration with new vendors and expansion of its product offerings. The company has been focusing on developing its capabilities in integrated supply chain, value-added services, data center, cloud and consumer electronics and cost-control measures.”
  • 8/26/2016 – Tech Data Corp. had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
  • 8/26/2016 – Tech Data Corp. had its “buy” rating reaffirmed by analysts at Brean Capital. They now have a $82.00 price target on the stock.
  • 8/10/2016 – Tech Data Corp. is now covered by analysts at Northcoast Research. They set a “neutral” rating on the stock.
  • 7/26/2016 – Tech Data Corp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Tech Data has been benefiting from an improved cost structures and market share gains. Also, some of its clients like Dell are transitioning their product from direct sales to channel distribution, which is opening newer avenues for the company. Tech Data has also been seeing strength in broadline, software, security, and consumer electronics divisions though the performance in mobility and data center operations was soft. However, intense competition, customer-concentration risks and exit from businesses in less profitable regions can pose some concerns.”

Tech Data Corp. (NASDAQ:TECD) traded up 1.87% during midday trading on Wednesday, hitting $86.67. 695,094 shares of the stock traded hands. Tech Data Corp. has a 12-month low of $57.99 and a 12-month high of $88.70. The stock has a market capitalization of $3.05 billion, a PE ratio of 14.07 and a beta of 0.95. The firm’s 50 day moving average is $76.53 and its 200-day moving average is $74.62.

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Tech Data Corp. (NASDAQ:TECD) last released its earnings results on Thursday, August 25th. The company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by $0.01. Tech Data Corp. had a net margin of 0.83% and a return on equity of 10.39%. The firm earned $6.35 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same period in the prior year, the business posted $1.43 earnings per share. Tech Data Corp.’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, analysts anticipate that Tech Data Corp. will post $5.93 EPS for the current fiscal year.

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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