Tech Data Corp (TECD) is Upgraded by BofA/Merrill to Neutral

Tech Data Corp (TECD) was Upgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Underperform ” on the company shares. BofA/Merrill advised their investors in a research report released on Aug 30, 2016.

Many Wall Street Analysts have commented on Tech Data Corp. Tech Data Corp was Initiated by Northcoast to “Neutral” on Aug 10, 2016.

On the company’s financial health, Tech Data Corp reported $1.42 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 25, 2016. Analyst had a consensus of $1.43. The company had revenue of $6353.70 million for the quarter, compared to analysts expectations of $6627.70 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.43 EPS.

Tech Data Corp closed down -0.36 points or -0.50% at $72.27 with 4,41,083 shares getting traded on Monday. Post opening the session at $72.52, the shares hit an intraday low of $71.9 and an intraday high of $73.03 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Mar 18, 2016, Steven A Raymund (director) sold 50,000 shares at $77.66 per share price. According to the SEC, on Mar 14, 2016, Alain Amsellem (SVP & CFO, Europe) sold 2,934 shares at $76.63 per share price. On Mar 11, 2016, Robert M Dutkowsky (Chief Executive Officer) sold 14,000 shares at $76.52 per share price, according to the Form-4 filing with the securities and exchange commission.

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 customers with logistics capabilities and services. Its customers include approximately 115000 value-added resellers (VARs) direct marketers retailers and corporate resellers who support the diverse technology needs of end users. It sells its products to customers in more than 100 countries throughout North America South America Europe the Middle East and Africa. The Company is managed in two geographic segments: the Americas and Europe. In addition to a range of product offerings the Company provides resellers training and technical support suite of electronic commerce tools (including Internet order entry and electronic data interchange (EDI) services) customized shipping documents product configuration or integration services and access to financing programs.

Tech Data Corp

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