Barclays Maintains an 'Equalweight' on Tech Data (TECD); Cutting Estimates as Weak Margins Make Surprise
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Price: $49.67 +0.49%
Rating Summary:
2 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
2 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade TECD Now!
Barclays maintains an 'Equalweight' on Tech Data (NASDAQ: TECD) price target of $52.00 (from $53.00).
Analyst, Ben A. Reitzes, said, "The F2Q margins were quite a surprise for TECD and it is unclear exactly how quickly margins can improve from here as SAP and pricing issues could linger. The mix shift toward tablets bears watching as well. The clear positive is top-line results and guidance above estimates by over $100 million each quarter given better than expected European sales."
FY13 EPS estimate lowered from $5.61 to $5.18, FY14 from $5.98 to $5.75 and FY15 from $6.40 to $6.22.
For an analyst ratings summary and ratings history on Tech Data click here. For more ratings news on Tech Data click here.
Shares of Tech Data closed at $49.24 yesterday, with a 52 week range of $40.79-$59.29.
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Analyst, Ben A. Reitzes, said, "The F2Q margins were quite a surprise for TECD and it is unclear exactly how quickly margins can improve from here as SAP and pricing issues could linger. The mix shift toward tablets bears watching as well. The clear positive is top-line results and guidance above estimates by over $100 million each quarter given better than expected European sales."
FY13 EPS estimate lowered from $5.61 to $5.18, FY14 from $5.98 to $5.75 and FY15 from $6.40 to $6.22.
For an analyst ratings summary and ratings history on Tech Data click here. For more ratings news on Tech Data click here.
Shares of Tech Data closed at $49.24 yesterday, with a 52 week range of $40.79-$59.29.
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