Tech Data (NASDAQ:TECD) Downgraded to Sell at BidaskClub

BidaskClub cut shares of Tech Data (NASDAQ:TECD) from a hold rating to a sell rating in a report released on Tuesday, BidAskClub reports.

Several other equities research analysts have also weighed in on TECD. Zacks Investment Research upgraded shares of Tech Data from a hold rating to a buy rating and set a $103.00 price objective on the stock in a research note on Friday, May 24th. ValuEngine lowered shares of Tech Data from a hold rating to a sell rating in a research note on Thursday, August 1st. Citigroup dropped their price objective on shares of Tech Data from $105.00 to $100.00 and set a neutral rating on the stock in a research note on Friday, May 31st. Finally, Stifel Nicolaus lowered shares of Tech Data from a buy rating to a hold rating and set a $105.00 price objective on the stock. in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Tech Data presently has a consensus rating of Hold and an average target price of $99.60.

TECD opened at $89.85 on Tuesday. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 7.90, a price-to-earnings-growth ratio of 2.51 and a beta of 1.14. Tech Data has a fifty-two week low of $66.93 and a fifty-two week high of $111.08. The company’s 50-day moving average price is $98.01 and its 200 day moving average price is $100.50. The company has a quick ratio of 0.84, a current ratio of 1.26 and a debt-to-equity ratio of 0.45.

Tech Data (NASDAQ:TECD) last released its quarterly earnings data on Thursday, May 30th. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.06. The firm had revenue of $8.41 billion for the quarter, compared to analyst estimates of $8.45 billion. Tech Data had a net margin of 0.98% and a return on equity of 15.28%. Tech Data’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 earnings per share. Research analysts anticipate that Tech Data will post 11.98 earnings per share for the current year.

In other Tech Data news, Director Thomas I. Morgan sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $100.51, for a total value of $201,020.00. Following the sale, the director now owns 17,491 shares in the company, valued at $1,758,020.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry J. Harczak, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $95.29, for a total transaction of $209,638.00. Following the completion of the sale, the director now owns 12,837 shares in the company, valued at approximately $1,223,237.73. The disclosure for this sale can be found here. Insiders sold 8,200 shares of company stock worth $819,858 in the last 90 days. 1.10% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in TECD. Dimensional Fund Advisors LP grew its holdings in Tech Data by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,200,146 shares of the company’s stock valued at $261,803,000 after buying an additional 34,598 shares in the last quarter. Norges Bank purchased a new position in shares of Tech Data in the 4th quarter worth approximately $35,317,000. Geode Capital Management LLC boosted its holdings in shares of Tech Data by 10.6% in the 4th quarter. Geode Capital Management LLC now owns 534,094 shares of the company’s stock worth $43,693,000 after purchasing an additional 51,329 shares during the period. Deutsche Bank AG boosted its holdings in shares of Tech Data by 47.5% in the 4th quarter. Deutsche Bank AG now owns 146,176 shares of the company’s stock worth $11,956,000 after purchasing an additional 47,088 shares during the period. Finally, Calamos Advisors LLC purchased a new position in shares of Tech Data in the 1st quarter worth approximately $358,000. Institutional investors own 99.70% of the company’s stock.

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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