Tech Data Corporation (TECD) Given Consensus Rating of “Buy” by Brokerages
Tech Data Corporation (NASDAQ:TECD) has received an average rating of “Buy” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $112.33.
Several brokerages have weighed in on TECD. ValuEngine upgraded Tech Data from a “hold” rating to a “buy” rating in a report on Wednesday, November 29th. Raymond James Financial reiterated a “hold” rating on shares of Tech Data in a report on Tuesday, November 28th. Pivotal Research set a $114.00 price target on Tech Data and gave the company a “buy” rating in a report on Tuesday, November 28th. Needham & Company LLC boosted their price target on Tech Data from $102.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, November 28th. Finally, Citigroup restated a “hold” rating and set a $110.00 price objective on shares of Tech Data in a report on Tuesday, November 28th.
In other news, COO Richard T. Hume sold 3,100 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $98.06, for a total transaction of $303,986.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.
Shares of Tech Data (TECD) traded down $0.14 on Thursday, reaching $95.34. The company’s stock had a trading volume of 350,100 shares, compared to its average volume of 448,016. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.35 and a quick ratio of 0.89. The firm has a market cap of $3,680.00, a P/E ratio of 11.85, a PEG ratio of 0.48 and a beta of 0.78. Tech Data has a 52 week low of $81.42 and a 52 week high of $111.10.
Tech Data (NASDAQ:TECD) last issued its quarterly earnings results on Monday, November 27th. The company reported $2.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.10. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.10 billion. Tech Data had a return on equity of 11.90% and a net margin of 0.59%. Tech Data’s revenue was up 40.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.44 EPS. research analysts anticipate that Tech Data will post 9.14 earnings per share for the current year.
About Tech Data
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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