Tech Data Corp (TECD) Receives $97.00 Average PT from Analysts

Shares of Tech Data Corp (NASDAQ:TECD) have earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $97.00.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Tech Data from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Stifel Nicolaus downgraded shares of Tech Data from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research note on Wednesday, April 17th. Finally, BidaskClub raised shares of Tech Data from a “hold” rating to a “buy” rating in a research note on Friday, April 5th.

In related news, CFO Charles V. Dannewitz sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $100.34, for a total transaction of $501,700.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michael Rabinovitch sold 1,133 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $99.06, for a total transaction of $112,234.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,141 shares of company stock worth $6,446,465. 1.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Tech Data by 1.2% during the 1st quarter. BlackRock Inc. now owns 4,525,177 shares of the company’s stock worth $463,423,000 after acquiring an additional 52,733 shares in the last quarter. Vanguard Group Inc. grew its holdings in Tech Data by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,473,612 shares of the company’s stock worth $248,607,000 after acquiring an additional 81,529 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Tech Data by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,200,146 shares of the company’s stock worth $261,803,000 after acquiring an additional 34,598 shares in the last quarter. AQR Capital Management LLC grew its holdings in Tech Data by 43.3% during the 1st quarter. AQR Capital Management LLC now owns 2,018,861 shares of the company’s stock worth $205,126,000 after acquiring an additional 610,113 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Tech Data by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,021,605 shares of the company’s stock worth $73,116,000 after acquiring an additional 16,863 shares in the last quarter. Institutional investors own 98.16% of the company’s stock.

Shares of Tech Data stock traded down $1.81 on Thursday, reaching $98.71. The company had a trading volume of 206,011 shares, compared to its average volume of 202,674. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 3.85 and a beta of 0.96. Tech Data has a 52-week low of $66.93 and a 52-week high of $111.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 1.24.

Tech Data (NASDAQ:TECD) last released its quarterly earnings results on Thursday, March 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.52. Tech Data had a net margin of 0.91% and a return on equity of 15.17%. The business had revenue of $10.47 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the firm earned $3.50 EPS. The business’s revenue was up 4.3% on a year-over-year basis. Equities analysts expect that Tech Data will post 11.77 earnings per share for the current year.

About Tech Data

Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.

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Analyst Recommendations for Tech Data (NASDAQ:TECD)

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