Tech Data (NASDAQ:TECD) had its price objective lowered by analysts at Citigroup from $110.00 to $95.00 in a research note issued to investors on Friday, March 9th. The firm presently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 18.62% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Pivotal Research set a $105.00 price target on shares of Tech Data and gave the stock a “buy” rating in a report on Thursday, March 8th. BidaskClub raised shares of Tech Data from a “hold” rating to a “buy” rating in a report on Tuesday, January 9th. Northcoast Research set a $127.00 price target on shares of Tech Data and gave the stock a “buy” rating in a report on Wednesday, February 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 price target (down previously from $120.00) on shares of Tech Data in a report on Friday, March 9th. Finally, ValuEngine raised shares of Tech Data from a “hold” rating to a “buy” rating in a report on Wednesday, November 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $110.29.
NASDAQ TECD traded down $5.04 during trading on Friday, reaching $80.09. The company’s stock had a trading volume of 747,849 shares, compared to its average volume of 414,249. The company has a quick ratio of 0.88, a current ratio of 1.26 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $3,248.91, a P/E ratio of 9.34, a P/E/G ratio of 1.06 and a beta of 0.86. Tech Data has a 12 month low of $79.23 and a 12 month high of $111.10.
Tech Data (NASDAQ:TECD) last posted its quarterly earnings data on Thursday, March 8th. The company reported $3.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.53 by ($0.03). The business had revenue of $11.09 billion during the quarter, compared to the consensus estimate of $10.57 billion. Tech Data had a net margin of 0.32% and a return on equity of 12.83%. The business’s revenue for the quarter was up 49.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.45 EPS. equities analysts expect that Tech Data will post 10.65 EPS for the current year.
Several institutional investors have recently modified their holdings of TECD. American Century Companies Inc. increased its position in Tech Data by 139.1% during the 3rd quarter. American Century Companies Inc. now owns 210,241 shares of the company’s stock worth $18,680,000 after purchasing an additional 122,298 shares in the last quarter. BlackRock Inc. increased its position in Tech Data by 1.6% during the 4th quarter. BlackRock Inc. now owns 3,746,695 shares of the company’s stock worth $367,063,000 after purchasing an additional 59,230 shares in the last quarter. Teacher Retirement System of Texas increased its position in Tech Data by 319.1% during the 4th quarter. Teacher Retirement System of Texas now owns 13,268 shares of the company’s stock worth $1,300,000 after purchasing an additional 10,102 shares in the last quarter. Copper Rock Capital Partners LLC increased its position in Tech Data by 3.6% during the 4th quarter. Copper Rock Capital Partners LLC now owns 235,314 shares of the company’s stock worth $23,113,000 after purchasing an additional 8,146 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in Tech Data by 0.5% during the 4th quarter. Macquarie Group Ltd. now owns 657,627 shares of the company’s stock worth $64,428,000 after purchasing an additional 3,119 shares in the last quarter. 96.18% of the stock is owned by institutional investors.
Tech Data Company Profile
Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.
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