Trade Report: Today, FY2017 Earnings Forecast for Tech Data Corp. Issued By Northcoast Research (TECD)

Today, FY2017 Earnings Forecast for Tech Data Corp. Issued By Northcoast Research (TECD)

Tech Data Corp. (NASDAQ:TECD) – Equities research analysts at Northcoast Research boosted their FY2017 earnings per share (EPS) estimates for shares of Tech Data Corp. in a research note issued to investors on Wednesday. Northcoast Research analyst K. Housum now anticipates that the firm will post earnings of $6.10 per share for the year, up from their previous forecast of $5.97. Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Tech Data Corp.’s FY2018 earnings at $6.49 EPS.

A number of other brokerages have also issued reports on TECD. Brean Capital reissued a “buy” rating and issued a $105.00 price target (up previously from $82.00) on shares of Tech Data Corp. in a report on Thursday, September 22nd. raised shares of Tech Data Corp. from an “underperform” rating to a “buy” rating and raised their price target for the stock from $76.00 to $102.00 in a report on Tuesday, September 20th. Zacks Investment Research raised shares of Tech Data Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 26th. Stifel Nicolaus raised shares of Tech Data Corp. from a “hold” rating to a “buy” rating and raised their price target for the stock from $75.00 to $96.00 in a report on Tuesday, September 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tech Data Corp. in a report on Friday, August 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Tech Data Corp. has a consensus rating of “Hold” and an average target price of $94.67.

Shares of Tech Data Corp. (NASDAQ:TECD) opened at 85.83 on Monday. The stock’s 50 day moving average is $80.22 and its 200 day moving average is $77.73. Tech Data Corp. has a 52-week low of $57.99 and a 52-week high of $89.36. The company has a market capitalization of $3.02 billion, a P/E ratio of 13.94 and a beta of 0.87.

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its position in shares of Tech Data Corp. by 14.4% in the second quarter. FMR LLC now owns 4,077,520 shares of the company’s stock worth $292,970,000 after buying an additional 511,893 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of Tech Data Corp. during the second quarter worth about $32,170,000. Vanguard Group Inc. boosted its position in shares of Tech Data Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 3,525,069 shares of the company’s stock worth $253,276,000 after buying an additional 332,980 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Tech Data Corp. by 15.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,325,549 shares of the company’s stock worth $95,241,000 after buying an additional 173,424 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of Tech Data Corp. by 48.5% in the second quarter. Prudential Financial Inc. now owns 521,514 shares of the company’s stock worth $37,471,000 after buying an additional 170,305 shares during the period.

In related news, insider John A. Tonnison sold 2,515 shares of Tech Data Corp. stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $86.52, for a total transaction of $217,597.80. Following the completion of the transaction, the insider now directly owns 27,484 shares of the company’s stock, valued at approximately $2,377,915.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

About Tech Data Corp.

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