Tech Data (TECD) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of Tech Data (NASDAQ:TECD) from a strong sell rating to a sell rating in a research note issued to investors on Friday.

A number of other brokerages have also commented on TECD. Zacks Investment Research lowered shares of Tech Data from a hold rating to a sell rating in a research note on Tuesday, September 4th. BidaskClub lowered shares of Tech Data from a buy rating to a hold rating in a research note on Tuesday, November 13th. Needham & Company LLC decreased their price target on shares of Tech Data from $115.00 to $100.00 and set a buy rating on the stock in a research note on Friday, August 31st. TheStreet lowered shares of Tech Data from a b- rating to a c+ rating in a research note on Monday, October 1st. Finally, Citigroup decreased their price target on shares of Tech Data from $95.00 to $85.00 and set a neutral rating on the stock in a research note on Friday, August 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Tech Data currently has an average rating of Hold and a consensus target price of $98.43.

Shares of TECD stock opened at $74.18 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $2.91 billion, a PE ratio of 8.14, a PEG ratio of 1.01 and a beta of 0.67. Tech Data has a 52-week low of $66.93 and a 52-week high of $108.62.

Tech Data (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, August 30th. The company reported $2.01 EPS for the quarter, missing the Zacks’ consensus estimate of $2.11 by ($0.10). Tech Data had a net margin of 0.39% and a return on equity of 12.67%. The company had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.73 billion. During the same quarter last year, the company posted $1.74 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts forecast that Tech Data will post 9.99 earnings per share for the current year.

Tech Data declared that its Board of Directors has approved a share buyback plan on Tuesday, October 2nd that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP grew its position in shares of Tech Data by 192.5% during the 3rd quarter. Quantbot Technologies LP now owns 1,977 shares of the company’s stock worth $141,000 after purchasing an additional 1,301 shares in the last quarter. Stevens Capital Management LP acquired a new position in shares of Tech Data during the 2nd quarter worth approximately $221,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Tech Data during the 2nd quarter worth approximately $230,000. Alps Advisors Inc. acquired a new position in shares of Tech Data during the 2nd quarter worth approximately $363,000. Finally, Country Club Trust Company n.a. acquired a new position in shares of Tech Data during the 2nd quarter worth approximately $333,000. Institutional investors and hedge funds own 96.80% 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: What do investors mean by earnings per share?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Tech Data (NASDAQ:TECD)

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