Published On: Wed, Sep 21st, 2016

Tech Data Corp. (TECD) Stock Rating Upgraded by Stifel Nicolaus

Tech Data Corp. (NASDAQ:TECD) was upgraded by Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $96.00 price objective on the stock, up from their prior price objective of $75.00. Stifel Nicolaus’ price target points to a potential upside of 12.83% from the company’s current price.
Several other equities research analysts have also recently issued reports on TECD. Zacks Investment Research cut shares of Tech Data Corp. from a “hold” rating to a “sell” rating in a report on Friday, August 26th. Brean Capital restated a “buy” rating and issued a $82.00 target price on shares of Tech Data Corp. in a report on Monday, May 23rd. Citigroup Inc. raised their target price on shares of Tech Data Corp. from $55.00 to $59.00 and gave the stock a “sell” rating in a report on Friday, May 27th. Northcoast Research started coverage on shares of Tech Data Corp. in a research report on Wednesday, August 10th. They issued a “neutral” rating on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tech Data Corp. in a research report on Friday, August 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $78.35.

Shares of Tech Data Corp. (NASDAQ:TECD) traded up 0.33% on Tuesday, reaching $85.08. 2,932,544 shares of the company traded hands. The stock has a 50-day moving average price of $76.53 and a 200 day moving average price of $74.62. The firm has a market capitalization of $3.00 billion, a P/E ratio of 13.81 and a beta of 0.95. Tech Data Corp. has a 1-year low of $57.99 and a 1-year high of $88.70.

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Tech Data Corp. (NASDAQ:TECD) last issued its earnings results on Thursday, August 25th. The company reported $1.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by $0.01. Tech Data Corp. had a return on equity of 10.39% and a net margin of 0.83%. The company earned $6.35 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter in the prior year, the business posted $1.43 EPS. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. Analysts anticipate that Tech Data Corp. will post $5.93 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in TECD. FMR LLC increased its stake in shares of Tech Data Corp. by 14.4% in the second quarter. FMR LLC now owns 4,077,520 shares of the company’s stock valued at $292,970,000 after buying an additional 511,893 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Tech Data Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 3,525,069 shares of the company’s stock valued at $253,276,000 after buying an additional 332,980 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Tech Data Corp. by 1.0% in the second quarter. BlackRock Fund Advisors now owns 1,759,139 shares of the company’s stock valued at $126,394,000 after buying an additional 16,960 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Tech Data Corp. by 8.8% in the second quarter. AQR Capital Management LLC now owns 1,599,891 shares of the company’s stock valued at $114,952,000 after buying an additional 129,700 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Tech Data Corp. by 15.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,325,549 shares of the company’s stock valued at $95,241,000 after buying an additional 173,424 shares during the last quarter.
Tech Data Corp. 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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