Tech Data Corp (NASDAQ:TECD) Receives $99.60 Average Price Target from Brokerages

Tech Data Corp (NASDAQ:TECD) has been assigned a consensus rating of “Hold” from the eight analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $99.60.

TECD has been the subject of a number of research reports. BidaskClub downgraded ZIX from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 21st. Citigroup set a $27.00 price target on StoneCo and gave the company a “hold” rating in a research note on Friday, May 31st. Zacks Investment Research cut Hammerson from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Finally, Stifel Nicolaus set a $80.00 price objective on CSX and gave the stock a “hold” rating in a research note on Wednesday, April 17th.

In related news, Director Thomas I. Morgan sold 2,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $100.51, for a total transaction of $201,020.00. Following the completion of the sale, the director now directly owns 17,491 shares of the company’s stock, valued at approximately $1,758,020.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry J. Harczak, Jr. sold 2,200 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $95.29, for a total value of $209,638.00. Following the sale, the director now directly owns 12,837 shares of the company’s stock, valued at $1,223,237.73. The disclosure for this sale can be found here. Insiders have sold a total of 8,200 shares of company stock valued at $819,858 over the last three months. 1.10% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC increased its holdings in Tech Data by 84.0% during the 1st quarter. Advisory Services Network LLC now owns 241 shares of the company’s stock valued at $25,000 after purchasing an additional 110 shares in the last quarter. Fort L.P. acquired a new stake in Tech Data during the 4th quarter valued at $40,000. JOYN Advisors Inc. increased its holdings in Tech Data by 43.5% during the 4th quarter. JOYN Advisors Inc. now owns 511 shares of the company’s stock valued at $42,000 after purchasing an additional 155 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Tech Data by 602.6% during the 1st quarter. Quadrant Capital Group LLC now owns 541 shares of the company’s stock valued at $53,000 after purchasing an additional 464 shares in the last quarter. Finally, Resources Investment Advisors Inc. increased its holdings in Tech Data by 31.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 550 shares of the company’s stock valued at $56,000 after purchasing an additional 130 shares in the last quarter. 99.69% of the stock is owned by hedge funds and other institutional investors.

Shares of TECD stock traded up $3.54 during mid-day trading on Friday, reaching $101.03. The stock had a trading volume of 11,308 shares, compared to its average volume of 279,296. The company has a 50 day moving average of $98.15. The company has a current ratio of 1.26, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Tech Data has a one year low of $66.93 and a one year high of $111.08. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 2.78 and a beta of 1.13.

Tech Data (NASDAQ:TECD) last announced its quarterly earnings data on Thursday, May 30th. The company reported $2.04 EPS for the quarter, topping the Zacks’ 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 company had revenue of $8.41 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter last year, the company earned $1.84 EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Tech Data will post 11.98 earnings per share for the current 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.

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