Several analysts have recently updated their ratings and price targets for Tech Data Corporation (NASDAQ: TECD):

  • 9/5/2017 – Tech Data Corporation was upgraded by analysts at Northcoast Research from a “neutral” rating to a “buy” rating.
  • 9/4/2017 – Tech Data Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Tech Data reported fiscal second-quarter 2018 results wherein earnings missed the Zacks Consensus Estimate but revenues beat the same. Earnings were marred by competitive pricing, execution challenges as well as rebates issue. On the other hand, acquisition of the Technology Solutions business from Avnet cushioned the top line. Apart from strengthening its distribution capabilities in Europe and the Americas, the buyout also introduced a new market, i.e. Asia-Pacific region. The increasing demand for data center systems, cloud and mobility products are also positives for Tech Data. Nevertheless, rising DRAM and NAND chips prices will eventually increase the price of PCs, which may result in further decline in overall PC shipments. This makes us cautious over the near-term performance. Moreover, a sluggish IT spending environment, uncertain macroeconomic condition and intense competition remain headwinds.”
  • 9/1/2017 – Tech Data Corporation had its “hold” rating reaffirmed by analysts at Citigroup Inc.. They now have a $100.00 price target on the stock.
  • 9/1/2017 – Tech Data Corporation had its price target lowered by analysts at Stifel Nicolaus from $115.00 to $110.00. They now have a “buy” rating on the stock.
  • 9/1/2017 – Tech Data Corporation had its “buy” rating reaffirmed by analysts at Loop Capital. They now have a $120.00 price target on the stock, down previously from $130.00.
  • 8/28/2017 – Tech Data Corporation had its “neutral” rating reaffirmed by analysts at Northcoast Research.
  • 8/24/2017 – Tech Data Corporation is now covered by analysts at Loop Capital. They set a “buy” rating and a $130.00 price target on the stock.
  • 8/11/2017 – Tech Data Corporation was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/7/2017 – Tech Data Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Tech Data distributes IT products, logistics management and other value-added services. Increasing demand for data center systems, cloud and mobility products are positives for Tech Data. Moreover, the acquisition of Technology Solutions unit from Avnet has opened up new growth opportunities. Apart from strengthening its distribution capabilities in Europe and the Americas, the buyout has also introduced a new market, i.e. Asia-Pacific region. Nevertheless, rising DRAM and NAND chips prices will eventually increase the prices of PCs, which may result in further decline in overall PC shipments. This makes us cautious over the stock’s near-term performance as these products contribute to majority of revenues. Moreover, a sluggish IT spending environment, uncertain macroeconomic condition and intense competition remain headwinds. Estimates have remained stable ahead of the upcoming earnings release.”
  • 8/1/2017 – Tech Data Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Tech Data distributes IT products, logistics management and other value-added services. Rising DRAM and NAND chips prices will eventually increase the prices of PCs, which may result in further decline in overall PC shipments. This makes us cautious over the stock’s near-term performance as these products contribute to majority of revenues. Moreover, a sluggish IT spending environment, uncertain macroeconomic condition and intense competition remain headwinds. Nevertheless, increasing demand for data center systems, cloud and mobility products are positives for Tech Data. Moreover, the acquisition of Technology Solutions unit from Avnet has opened up new growth opportunities. Apart from strengthening its distribution capabilities in Europe and the Americas, the buyout has also introduced a new market, i.e. Asia-Pacific region. Furthermore, the stock has outperformed the industry in the last one year.”

Shares of Tech Data Corporation (NASDAQ:TECD) opened at 84.96 on Thursday. The firm has a 50-day moving average of $100.39 and a 200-day moving average of $97.50. The firm has a market capitalization of $3.24 billion, a P/E ratio of 16.12 and a beta of 0.79. Tech Data Corporation has a one year low of $67.78 and a one year high of $111.10.

Tech Data Corporation (NASDAQ:TECD) last announced its quarterly earnings data on Thursday, August 31st. The company reported $1.74 EPS for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.32). The firm had revenue of $8.88 billion during the quarter, compared to analyst estimates of $8.74 billion. Tech Data Corporation had a return on equity of 11.60% and a net margin of 0.63%. Tech Data Corporation’s revenue for the quarter was up 39.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. On average, equities analysts predict that Tech Data Corporation will post $8.86 earnings per share for the current fiscal year.

In other Tech Data Corporation news, CFO Alain Amsellem sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $104.63, for a total transaction of $104,630.00. Following the transaction, the chief financial officer now owns 26,379 shares in the company, valued at $2,760,034.77. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert M. Dutkowsky sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $100.08, for a total value of $2,001,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,088 shares of company stock valued at $2,423,744. Corporate insiders own 1.60% of the company’s stock.

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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