Tech Data Corp (NASDAQ:TECD) – Equities researchers at Northcoast Research lifted their Q2 2020 earnings per share (EPS) estimates for shares of Tech Data in a report released on Tuesday, February 19th. Northcoast Research analyst K. Housum now anticipates that the company will post earnings per share of $2.39 for the quarter, up from their previous estimate of $2.19. Northcoast Research also issued estimates for Tech Data’s Q4 2020 earnings at $4.44 EPS.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Tech Data from a “buy” rating to a “hold” rating in a report on Friday, February 8th. BidaskClub upgraded Tech Data from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 15th. TheStreet raised Tech Data from a “c+” rating to a “b-” rating in a report on Thursday, December 13th. Needham & Company LLC lifted their target price on Tech Data to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 30th. Finally, ValuEngine upgraded Tech Data from a “sell” rating to a “hold” rating in a research report on Friday, November 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $103.57.
Shares of TECD stock opened at $106.17 on Thursday. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.05 and a beta of 0.96. The company has a current ratio of 1.24, a quick ratio of 0.85 and a debt-to-equity ratio of 0.46. Tech Data has a 12-month low of $66.93 and a 12-month high of $108.62.
Tech Data (NASDAQ:TECD) last announced its earnings results on Thursday, November 29th. The company reported $3.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.85. The company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $8.92 billion. Tech Data had a return on equity of 13.92% and a net margin of 0.59%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 EPS.
In other news, Director Charles E. Adair sold 2,715 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $90.72, for a total transaction of $246,304.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert M. Dutkowsky sold 10,000 shares of the business’s stock in a transaction dated Friday, January 11th. The stock was sold at an average price of $91.02, for a total transaction of $910,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 18,307 shares of company stock valued at $1,646,157 in the last three months. Company insiders own 1.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc boosted its holdings in shares of Tech Data by 2.4% in the third quarter. Vanguard Group Inc now owns 3,473,612 shares of the company’s stock valued at $248,607,000 after buying an additional 81,529 shares during the period. Panagora Asset Management Inc. raised its position in shares of Tech Data by 1,397.9% in the third quarter. Panagora Asset Management Inc. now owns 62,464 shares of the company’s stock valued at $4,471,000 after purchasing an additional 58,294 shares during the period. Quantbot Technologies LP increased its position in Tech Data by 192.5% during the third quarter. Quantbot Technologies LP now owns 1,977 shares of the company’s stock worth $141,000 after acquiring an additional 1,301 shares during the period. BlackRock Inc. grew its stake in Tech Data by 3.8% during the third quarter. BlackRock Inc. now owns 4,379,141 shares of the company’s stock worth $313,416,000 after buying an additional 159,706 shares in the last quarter. Finally, Lyrical Asset Management LP grew its stake in Tech Data by 0.3% during the third quarter. Lyrical Asset Management LP now owns 1,720,884 shares of the company’s stock worth $123,164,000 after buying an additional 4,304 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.
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.
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