Analysts Set Tech Data Corp (TECD) Target Price at $99.86

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Shares of Tech Data Corp (NASDAQ:TECD) have received an average recommendation of “Hold” from the ten analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $99.86.

TECD has been the topic of a number of analyst reports. TheStreet raised shares of Tech Data from a “c+” rating to a “b-” rating in a report on Thursday, December 13th. BidaskClub lowered shares of Tech Data from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. ValuEngine raised shares of Tech Data from a “strong sell” rating to a “sell” rating in a report on Friday, November 16th. Needham & Company LLC upped their target price on shares of Tech Data to $110.00 and gave the stock a “buy” rating in a report on Friday, November 30th. Finally, Zacks Investment Research reaffirmed a “hold” rating and set a $82.00 target price on shares of Tech Data in a report on Friday, November 16th.

NASDAQ TECD opened at $91.52 on Friday. Tech Data has a 12-month low of $66.93 and a 12-month high of $108.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.85 and a current ratio of 1.24. The company has a market capitalization of $3.29 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.93 and a beta of 0.80.

Tech Data (NASDAQ:TECD) last posted its earnings results on Thursday, November 29th. The company reported $3.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.85. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $8.92 billion. Tech Data had a net margin of 0.59% and a return on equity of 13.92%. Tech Data’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 EPS. Research analysts predict that Tech Data will post 10.94 earnings per share for the current fiscal year.

Tech Data announced that its board has authorized a share buyback program on Tuesday, October 2nd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

In other Tech Data news, VP John A. Tonnison sold 5,000 shares of the stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $87.04, for a total transaction of $435,200.00. Following the completion of the sale, the vice president now owns 30,423 shares of the company’s stock, valued at approximately $2,648,017.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles E. Adair sold 2,715 shares of the stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $90.72, for a total transaction of $246,304.80. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in TECD. River Road Asset Management LLC purchased a new stake in Tech Data during the 3rd quarter valued at $32,431,000. Assenagon Asset Management S.A. boosted its position in Tech Data by 11,850.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 375,250 shares of the company’s stock valued at $26,857,000 after buying an additional 372,110 shares during the period. BlackRock Inc. boosted its position in Tech Data by 8.1% during the 2nd quarter. BlackRock Inc. now owns 4,219,435 shares of the company’s stock valued at $346,500,000 after buying an additional 317,967 shares during the period. Prudential Financial Inc. boosted its position in Tech Data by 89.4% during the 3rd quarter. Prudential Financial Inc. now owns 655,099 shares of the company’s stock valued at $46,885,000 after buying an additional 309,142 shares during the period. Finally, Macquarie Group Ltd. boosted its position in Tech Data by 23.2% during the 3rd quarter. Macquarie Group Ltd. now owns 909,739 shares of the company’s stock valued at $65,110,000 after buying an additional 171,231 shares during the period. 99.80% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Tech Data (NASDAQ:TECD)

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