Tech Data Corporation (TECD) Getting Somewhat Favorable Media Coverage, Report Shows
News headlines about Tech Data Corporation (NASDAQ:TECD) have trended somewhat positive recently, according to Accern. The research group identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Tech Data Corporation earned a media sentiment score of 0.13 on Accern’s scale. Accern also assigned news stories about the company an impact score of 45.7345233234104 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the news articles that may have impacted Accern’s scoring:
- Tech Data (TECD) Down 18.8% Since Earnings Report: Can It Rebound? (zacks.com)
- Khang & Khang LLP Announces a Securities Class Action Lawsuit against Tech Data Corporation and Encourages Investors with Losses to Contact the Firm (4-traders.com)
- VR And AR Headsets To Hit 80 Million By 2021 (forbes.com)
- The Klein Law Firm Notifies Investors Of An Investigation Concerning Possible Violations Of Federal Securities Laws By Tech Data Corporation (TECD) (thestreet.com)
- Robbins Arroyo LLP: Tech Data Corporation (TECD) Misled Shareholders According to a Recently Filed Class Action (businesswire.com)
A number of brokerages have recently issued reports on TECD. Citigroup Inc. reaffirmed a “hold” rating and issued a $100.00 price target on shares of Tech Data Corporation in a research note on Friday, September 1st. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective (down from $107.00) on shares of Tech Data Corporation in a research note on Monday, September 18th. Loop Capital reissued a “buy” rating and issued a $120.00 price objective (down from $130.00) on shares of Tech Data Corporation in a research note on Friday, September 1st. Zacks Investment Research lowered Tech Data Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Finally, BidaskClub lowered Tech Data Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $107.33.
Shares of Tech Data Corporation (TECD) opened at 90.11 on Tuesday. Tech Data Corporation has a 52-week low of $74.07 and a 52-week high of $111.10. The stock has a 50 day moving average price of $93.87 and a 200-day moving average price of $96.97. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 17.10 and a beta of 0.78.
Tech Data Corporation (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, August 31st. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.32). The business had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $8.74 billion. Tech Data Corporation had a net margin of 0.63% and a return on equity of 11.60%. The firm’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same period last year, the company earned $1.42 EPS. On average, equities research analysts predict that Tech Data Corporation will post $8.86 EPS for the current fiscal year.
In other Tech Data Corporation news, CFO Alain Amsellem sold 1,648 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $106.31, for a total transaction of $175,198.88. Following the sale, the chief financial officer now owns 26,479 shares in the company, valued at approximately $2,814,982.49. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.
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About Tech Data Corporation
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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