Tech Data (NASDAQ:TECD) had its target price reduced by stock analysts at Needham & Company LLC from $115.00 to $100.00 in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 31.13% from the stock’s current price.
Other research analysts have also issued reports about the company. Bank of America lowered Tech Data from a “buy” rating to an “underperform” rating in a report on Friday. Zacks Investment Research cut Tech Data from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 1st. BidaskClub cut Tech Data from a “buy” rating to a “hold” rating in a research note on Saturday, June 30th. ValuEngine upgraded Tech Data from a “strong sell” rating to a “sell” rating in a research report on Monday, June 18th. Finally, Pivotal Research restated a “buy” rating and set a $105.00 price objective on shares of Tech Data in a research report on Sunday, June 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $107.00.
Shares of TECD opened at $76.26 on Friday. The firm has a market cap of $3.39 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 1.12 and a beta of 0.82. The company has a current ratio of 1.31, a quick ratio of 0.88 and a debt-to-equity ratio of 0.52. Tech Data has a one year low of $73.00 and a one year high of $111.10.
Tech Data (NASDAQ:TECD) last issued its quarterly earnings results on Thursday, August 30th. The company reported $2.01 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.10). The business had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.73 billion. Tech Data had a net margin of 0.32% and a return on equity of 12.41%. Tech Data’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business posted $1.74 earnings per share. sell-side analysts anticipate that Tech Data will post 10.48 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ARP Americas LP bought a new stake in shares of Tech Data during the first quarter valued at approximately $758,000. Comerica Bank boosted its stake in Tech Data by 93.5% in the first quarter. Comerica Bank now owns 131,932 shares of the company’s stock worth $10,814,000 after purchasing an additional 63,761 shares in the last quarter. Trexquant Investment LP acquired a new position in Tech Data in the first quarter worth $352,000. Prudential Financial Inc. lifted its stake in shares of Tech Data by 9.8% during the first quarter. Prudential Financial Inc. now owns 338,043 shares of the company’s stock valued at $28,777,000 after acquiring an additional 30,240 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Tech Data by 2.3% during the first quarter. Swiss National Bank now owns 66,500 shares of the company’s stock valued at $5,661,000 after acquiring an additional 1,500 shares during the period. Hedge funds and other institutional investors own 96.91% of the company’s stock.
Tech Data Company Profile
Tech Data Corporation engages in the wholesale distribution of technology products. It offers endpoint portfolio solutions, including PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics; and advanced portfolio solutions, such as storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
Further Reading: Price to Earnings Ratio (PE) Basics
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