Tech Data Corp (NASDAQ:TECD) Receives Average Rating of “Hold” from Brokerages

Tech Data Corp (NASDAQ:TECD) has earned a consensus rating of “Hold” from the eight brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $99.60.

Several equities research analysts have recently commented on TECD shares. BidaskClub downgraded ZIX from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 21st. Zacks Investment Research downgraded Hammerson from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Stifel Nicolaus set a $80.00 target price on CSX and gave the company a “hold” rating in a report on Wednesday, April 17th. Finally, Citigroup set a $27.00 price objective on StoneCo and gave the stock a “hold” rating in a research note on Friday, May 31st.

In other Tech Data news, Director Harry J. Harczak, Jr. sold 2,200 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $95.29, for a total value of $209,638.00. Following the transaction, the director now directly owns 12,837 shares of the company’s stock, valued at approximately $1,223,237.73. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas I. Morgan sold 2,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $100.51, for a total value of $201,020.00. Following the completion of the transaction, the director now directly owns 17,491 shares in the company, valued at $1,758,020.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,200 shares of company stock valued at $819,858. Company insiders own 1.10% of the company’s stock.

Hedge funds have recently modified their holdings of the business. IndexIQ Advisors LLC acquired a new position in Tech Data in the 1st quarter worth about $1,614,000. American Century Companies Inc. increased its position in Tech Data by 31.2% in the 4th quarter. American Century Companies Inc. now owns 372,895 shares of the company’s stock worth $30,507,000 after purchasing an additional 88,625 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in Tech Data by 5.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 6,613 shares of the company’s stock worth $677,000 after purchasing an additional 350 shares during the last quarter. Foundry Partners LLC increased its position in Tech Data by 9.0% in the 1st quarter. Foundry Partners LLC now owns 171,078 shares of the company’s stock worth $17,520,000 after purchasing an additional 14,103 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its position in Tech Data by 16.1% in the 4th quarter. Commonwealth Bank of Australia now owns 41,726 shares of the company’s stock worth $3,410,000 after purchasing an additional 5,800 shares during the last quarter. 99.69% of the stock is currently owned by institutional investors.

Shares of NASDAQ TECD traded up $3.54 during mid-day trading on Friday, hitting $101.03. 11,308 shares of the company traded hands, compared to its average volume of 279,296. Tech Data has a 1 year low of $66.93 and a 1 year high of $111.08. The firm has a market cap of $3.64 billion, a PE ratio of 8.73, a price-to-earnings-growth ratio of 2.78 and a beta of 1.13. The company has a quick ratio of 0.84, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $98.15.

Tech Data (NASDAQ:TECD) last announced its earnings results on Thursday, May 30th. The company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.98 by $0.06. Tech Data had a return on equity of 15.28% and a net margin of 0.98%. The business had revenue of $8.41 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the prior year, the business posted $1.84 earnings per share. Tech Data’s revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts expect that Tech Data will post 11.98 EPS for the current fiscal year.

Tech Data Company Profile

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.

Recommended Story: What is the formula for calculating total return?

Receive News & Ratings for Tech Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data and related companies with MarketBeat.com's FREE daily email newsletter.