Other equities analysts have also issued research reports about the stock. BidaskClub upgraded shares of Tech Data from a hold rating to a buy rating in a research report on Tuesday, January 9th. Stifel Nicolaus reiterated a buy rating and set a $110.00 price objective (down previously from $120.00) on shares of Tech Data in a research report on Friday. Citigroup reiterated a hold rating and set a $110.00 price objective on shares of Tech Data in a research report on Tuesday, November 28th. Needham & Company LLC increased their price objective on shares of Tech Data from $102.00 to $110.00 and gave the company a buy rating in a research report on Tuesday, November 28th. Finally, Pivotal Research set a $105.00 price objective on shares of Tech Data and gave the company a buy rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $110.29.
Tech Data (TECD) opened at $89.98 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.89 and a current ratio of 1.26. Tech Data has a 12-month low of $81.42 and a 12-month high of $111.10. The firm has a market cap of $3,433.01, a price-to-earnings ratio of 29.41, a P/E/G ratio of 0.39 and a beta of 0.64.
A number of hedge funds have recently added to or reduced their stakes in TECD. Dynamic Technology Lab Private Ltd bought a new position in Tech Data during the third quarter valued at $201,000. C M Bidwell & Associates Ltd. bought a new position in Tech Data during the fourth quarter valued at $204,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tech Data by 39.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,085 shares of the company’s stock valued at $204,000 after acquiring an additional 595 shares during the period. Creative Planning purchased a new stake in shares of Tech Data in the fourth quarter valued at $205,000. Finally, Cipher Capital LP purchased a new stake in shares of Tech Data in the third quarter valued at $206,000. Institutional investors and hedge funds own 94.91% of the company’s stock.
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Tech Data 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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