Trade Report: Today, Tech Data Corp. (TECD) Receives Consensus Recommendation of “Hold” from Brokerages

Today, Tech Data Corp. (TECD) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Tech Data Corp. (NASDAQ:TECD) have earned a consensus rating of “Hold” from the nine analysts that are presently covering the stock. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $96.60.

Several equities research analysts have commented on the stock. Stifel Nicolaus upgraded shares of Tech Data Corp. from a “hold” rating to a “buy” rating and increased their price objective for the company from $75.00 to $96.00 in a research note on Tuesday, September 20th. Zacks Investment Research lowered shares of Tech Data Corp. from a “hold” rating to a “sell” rating in a research note on Friday, November 4th. Northcoast Research initiated coverage on shares of Tech Data Corp. in a research note on Wednesday, August 10th. They set a “neutral” rating for the company. Citigroup Inc. raised their price target on shares of Tech Data Corp. from $59.00 to $80.00 and gave the stock a “sell” rating in a research note on Thursday, September 22nd. Finally, Brean Capital restated a “buy” rating and set a $105.00 price target (up previously from $82.00) on shares of Tech Data Corp. in a research note on Thursday, September 22nd.

Tech Data Corp. (NASDAQ:TECD) opened at 86.64 on Monday. The firm has a market capitalization of $3.05 billion, a P/E ratio of 14.07 and a beta of 0.87. The firm’s 50-day moving average is $80.21 and its 200 day moving average is $77.40. Tech Data Corp. has a 12 month low of $57.99 and a 12 month high of $89.36.

Tech Data Corp. (NASDAQ:TECD) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.18. The firm earned $6.49 billion during the quarter, compared to analyst estimates of $6.36 billion. Tech Data Corp. had a net margin of 0.81% and a return on equity of 10.52%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $1.28 EPS. On average, analysts expect that Tech Data Corp. will post $5.95 EPS for the current fiscal year.

Several large investors have recently modified their holdings of TECD. UBS Asset Management Americas Inc. raised its stake in shares of Tech Data Corp. by 112.0% in the first quarter. UBS Asset Management Americas Inc. now owns 90,046 shares of the company’s stock valued at $6,913,000 after buying an additional 47,572 shares during the last quarter. Geode Capital Management LLC increased its position in Tech Data Corp. by 3.6% in the first quarter. Geode Capital Management LLC now owns 394,281 shares of the company’s stock valued at $30,267,000 after buying an additional 13,847 shares during the period. Legal & General Group Plc increased its position in Tech Data Corp. by 0.3% in the first quarter. Legal & General Group Plc now owns 76,909 shares of the company’s stock valued at $5,903,000 after buying an additional 246 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Tech Data Corp. by 3.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 57,286 shares of the company’s stock valued at $4,398,000 after buying an additional 2,094 shares during the period. Finally, Panagora Asset Management Inc. increased its position in Tech Data Corp. by 7.1% in the first quarter. Panagora Asset Management Inc. now owns 49,419 shares of the company’s stock valued at $3,794,000 after buying an additional 3,259 shares during the period. Institutional investors own 99.42% of the company’s stock.

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