Shares of Tech Data Corporation (NASDAQ:TECD) have been given a consensus recommendation of “Buy” by the ten brokerages that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $108.00.

TECD has been the subject of a number of recent research reports. Bank of America Corporation reaffirmed a “buy” rating and set a $110.00 price target on shares of Tech Data Corporation in a research report on Thursday, June 1st. Citigroup Inc. raised Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 price target for the company in a research report on Friday, June 2nd. BidaskClub downgraded Tech Data Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research downgraded Tech Data Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Loop Capital initiated coverage on Tech Data Corporation in a research report on Thursday, August 24th. They set a “buy” rating and a $130.00 price target for the company.

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In other news, CFO Alain Amsellem sold 1,648 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $106.31, for a total value of $175,198.88. Following the completion of the sale, the chief financial officer now owns 26,479 shares of the company’s stock, valued at approximately $2,814,982.49. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TECD. Bank of Montreal Can boosted its holdings in shares of Tech Data Corporation by 1.6% in the 1st quarter. Bank of Montreal Can now owns 3,038 shares of the company’s stock valued at $286,000 after buying an additional 48 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Tech Data Corporation by 1.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 32,433 shares of the company’s stock valued at $3,043,000 after buying an additional 435 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Tech Data Corporation by 2.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,510 shares of the company’s stock valued at $1,081,000 after buying an additional 280 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Tech Data Corporation by 9.1% in the 1st quarter. First Trust Advisors LP now owns 39,582 shares of the company’s stock valued at $3,717,000 after buying an additional 3,291 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of Tech Data Corporation by 2.7% in the 1st quarter. Comerica Bank now owns 27,431 shares of the company’s stock valued at $2,680,000 after buying an additional 709 shares during the last quarter.

Tech Data Corporation (NASDAQ:TECD) traded up 0.63% during mid-day trading on Friday, reaching $86.90. 400,600 shares of the company’s stock were exchanged. Tech Data Corporation has a 52-week low of $68.41 and a 52-week high of $111.10. The stock has a 50-day moving average price of $97.87 and a 200 day moving average price of $97.33. The company has a market cap of $3.32 billion, a PE ratio of 16.49 and a beta of 0.79.

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

Tech Data Corporation 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.

Analyst Recommendations for Tech Data Corporation (NASDAQ:TECD)

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