Tech Data (TECD) Rating Lowered to Sell at BidaskClub

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

Several other equities research analysts have also recently weighed in on the company. ValuEngine raised Tech Data from a “hold” rating to a “buy” rating in a research note on Wednesday, November 29th. Raymond James Financial reaffirmed a “hold” rating on shares of Tech Data in a research note on Tuesday, November 28th. Pivotal Research set a $114.00 price target on Tech Data and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Needham & Company LLC upped their price target on Tech Data from $102.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Finally, Citigroup reaffirmed a “hold” rating and issued a $110.00 price target on shares of Tech Data in a research note on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $112.33.

Shares of Tech Data (TECD) opened at $98.70 on Friday. The firm has a market capitalization of $3,858.44, a price-to-earnings ratio of 18.80, a P/E/G ratio of 0.44 and a beta of 0.69. Tech Data has a 12 month low of $81.42 and a 12 month high of $111.10. The company has a quick ratio of 0.89, a current ratio of 1.35 and a debt-to-equity ratio of 0.66.

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, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.10. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Tech Data had a return on equity of 11.90% and a net margin of 0.59%. The firm’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 earnings per share. analysts predict that Tech Data will post 9.14 EPS for the current year.

In other Tech Data news, COO Richard T. Hume sold 3,100 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in TECD. Alyeska Investment Group L.P. bought a new stake in Tech Data in the third quarter worth $76,672,000. Janus Henderson Group PLC bought a new stake in Tech Data in the second quarter worth $35,974,000. Renaissance Technologies LLC boosted its holdings in Tech Data by 702.2% in the second quarter. Renaissance Technologies LLC now owns 184,842 shares of the company’s stock worth $18,669,000 after acquiring an additional 161,800 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Tech Data by 163.1% in the third quarter. Wells Fargo & Company MN now owns 215,384 shares of the company’s stock worth $19,137,000 after acquiring an additional 133,530 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Tech Data by 20.2% in the fourth quarter. Victory Capital Management Inc. now owns 745,119 shares of the company’s stock worth $73,000,000 after acquiring an additional 125,399 shares in the last quarter. 98.18% of the stock is currently owned by institutional investors and hedge funds.

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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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