Zacks Reaffirms Neutral Rating on Tech Data Corporation (TECD)

By admin | 6 years ago

Tech Data Corporation (NASDAQ: TECD)‘s stock had its “neutral” rating restated by Zacks in a report issued on Wednesday. They currently have a $51.00 target price on the stock.

Shares of Tech Data Corporation opened at 47.96 on Wednesday. Tech Data Corporation has a 52 week low of $38.21 and a 52 week high of $59.29. The company has a market cap of $1.974 billion and a P/E ratio of 9.83.

Tech Data Corporation last announced its earnings results on Monday, May 21st. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.07. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, analysts predict that Tech Data Corporation will post $1.41 earnings per share next quarter.

TECD has been the subject of a number of other recent research reports. Analysts at Barclays Capital (NYSE: BCS) cut their price target on shares of Tech Data Corporation from $56.00 to $54.00 in a research note to investors on Tuesday. They now have an “equal weight” rating on the stock. Separately, analysts at Brean Murray reiterated a “buy” rating on shares of Tech Data Corporation in a research note to investors on Tuesday. They now have a $61.00 price target on the stock. Finally, analysts at Brean Murray reiterated a “buy” rating on shares of Tech Data Corporation in a research note to investors on Wednesday, April 4th. They now have a $61.00 price target on the stock.

Tech Data Corporation (Tech Data), is a distributor of information technology (IT) products, logistics management and other value-added services.

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