Tech Data (TECD) Lowered to “Hold” at BidaskClub

Tech Data (NASDAQ:TECD) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.

A number of other research firms have also recently commented on TECD. Needham & Company LLC upped their price target on Tech Data from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, October 12th. Zacks Investment Research upgraded Tech Data from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Citigroup reiterated a “hold” rating and issued a $110.00 price objective on shares of Tech Data in a research note on Tuesday, November 28th. Pivotal Research initiated coverage on Tech Data in a research note on Friday, October 6th. They issued a “buy” rating and a $114.00 price objective on the stock. Finally, ValuEngine upgraded Tech Data from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $112.33.

Tech Data (NASDAQ:TECD) opened at $103.57 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 1.35. Tech Data has a 52 week low of $81.42 and a 52 week high of $111.10. The company has a market capitalization of $3,950.00, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 0.52 and a beta of 0.78.

Tech Data (NASDAQ:TECD) last released its quarterly earnings results on Monday, November 27th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.10. Tech Data had a return on equity of 11.90% and a net margin of 0.59%. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. The firm’s revenue was up 40.8% compared to the same quarter last year. sell-side analysts predict that Tech Data will post 9.14 EPS for the current fiscal year.

In other news, COO Richard T. Hume sold 3,100 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $98.06, for a total value of $303,986.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of TECD. Wells Fargo & Company MN increased its holdings in Tech Data by 37.4% in the second quarter. Wells Fargo & Company MN now owns 81,854 shares of the company’s stock valued at $8,268,000 after buying an additional 22,276 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in Tech Data by 78.4% in the second quarter. Riverhead Capital Management LLC now owns 2,497 shares of the company’s stock valued at $252,000 after buying an additional 1,097 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Tech Data by 63.8% in the second quarter. Ameriprise Financial Inc. now owns 209,403 shares of the company’s stock valued at $21,150,000 after buying an additional 81,577 shares during the last quarter. Amalgamated Bank increased its holdings in Tech Data by 1.6% in the second quarter. Amalgamated Bank now owns 4,990 shares of the company’s stock valued at $504,000 after buying an additional 80 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Tech Data by 16.1% in the second quarter. PNC Financial Services Group Inc. now owns 29,222 shares of the company’s stock valued at $2,951,000 after buying an additional 4,047 shares during the last quarter. 98.38% of the stock is currently owned by hedge funds and other institutional investors.

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Tech Data 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 (NASDAQ:TECD)

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