|Bid||0.00 x 1000|
|Ask||0.00 x 1100|
|Day's Range||144.73 - 144.99|
|52 Week Range||80.20 - 151.47|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||14.26|
|Earnings Date||Aug 27, 2020 - Aug 31, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||147.50|
Moody's Investors Service, ("Moody's") downgraded the remaining, untendered senior unsecured notes of Tech Data Corporation (Tech Data) to B1 from Baa3 as a result of the recent debt-financed buyout by Apollo Global Management. In conjunction with the change in ownership, the instrument ratings on the untendered senior unsecured notes will become part of Tech Data Corporation (New).
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
Issuance across the US syndicated loan market plummeted in the second quarter as the asset class navigated a slow recovery from the novel coronavirus that left borrowers scrambling for cash to keep their businesses alive while economies around the world gradually reopen. Companies from beleaguered sectors, including United Airlines and cruise ship operator Carnival Cruise Line, collectively raised billions of US dollars in new, costly loans to bolster liquidity amid a pandemic that forced many consumers to shelter at home throughout the second quarter. The wary buyside limited its exposure to low, Single B rated loans that are subject to fall to Triple C, which is just notches above a default.
With its acquisition by funds managed by affiliates of Apollo Global Management now complete, Tech Data (or the "Company") today announced the Company plans to invest approximately $750 million in digital transformation initiatives over the next five years. The investment will power Tech Data’s strategy to accelerate innovation in ways that will deliver improved experiences and greater agility for businesses across the technology ecosystem.
Chief Executive Officer Rich Hume will continue to lead Tech Data from its headquarters in Clearwater, Florida. “Tech Data is a global, market-leading company with an excellent management team and significant opportunities for expansion,” said Matt Nord, Co-Lead Partner of Private Equity at Apollo.
S&P; Dow Jones Indices will make the following changes to the S&P; MidCap 400 and S&P; SmallCap 600 effective prior to the open of trading on Tuesday, June 30:
Moody's Investors Service, ("Moody's") assigned a Ba2 Corporate Family Rating (CFR) and a Ba3-PD Probability of Default Rating (PDR) to Tech Data Corporation (New) ("Tech Data") in conjunction with the debt funded acquisition by funds of Apollo Global Management, Inc. ("Apollo"). As part of the rating actions, Moody's assigned a Ba1 to the proposed ABL revolver and ABL term loan, and a Ba2 to the first-in, last-out (FILO) ABL term loan.
We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]
For those feeling lost in all of the stock market fog, investing gurus can offer a sense of clarity. No one more so than John Paulson, the billionaire investor who made a fortune by betting against the 2007 housing bubble.Paulson built his name and reputation the old hard way – in 1994 he parlayed his $2 million in seed money into one of the most successful hedge funds on Wall Street. In its last 13F filing, for Q1 2020, his firm, Paulson & Co, reported nearly $10.7 billion in assets under management. And in recent days, his long-term love affair with gold stocks has started turning away from lackluster returns.Gold is not the only thing drawing in Paulson’s attention – and his money. He has also recently bought heavily into heavy industrial stocks and cutting-edge high techs. We’ve used TipRanks’ database to pull up the details on three of Paulson’s recent major purchases to find out what makes those stocks special.Kirkland Lake Gold (KL)The first stock we’ll look at is, indeed, a gold stock. In fact, with a market cap over $10 billion, Kirkland plays in the gold mine big leagues. The company has six operating mines, in Canada and Australia, which last year produced over 974,000 ounces of gold. Even after the coronavirus hit, the company estimates 2020 production at 1.5 million ounces, telling investors that the increase is based on higher quality ores coming out of the mines. Kirkland’s financial position is sound, and the company saw free cash flow increase by 81% last year.In the first quarter of this year, Paulson took out a new position in KL stock, buying up more than 1.5 million shares. This is a clear sign that Paulson remains bullish on gold. In the case of Kirkland, this makes sense, as the stock, three months after the February market collapse, is back at pre-bear prices.Writing from CIBC, 5-star analyst Cosmos Chiu also sees clear sailing ahead for KL. He writes, “We continue to like Kirkland Lake Gold as one of our top picks, with three cornerstone assets of Fosterville, Macassa, and Detour Lake that continue to drive high profitability. In Q1, Kirkland Lake Gold generated $191.4 million in adjusted FCF, with Detour Lake contributing $78 million from its first two months…”Chiu’s opinion backs his Buy rating, as does his C$69 (US$$50.20) price target. At current prices, this target suggests a robust 33% upside for the coming year. (To watch Chiu’s track record, click here)Overall, Wall Street agrees that KL is a buying proposition. The stock’s 10 recent reviews break down to 7 Buys and 3 Holds, making the analyst consensus rating a Moderate Buy. KL is currently selling for $37.64, and the $47.13 average price target implies an upside of 25% this year. (See Kirkland stock analysis on TipRanks)Tech Data Corporation (TECD)The next stock on our list is not a new position for Paulson, but it is one that he increased substantially. Tech Data fills a vital niche in the IT industry. The company sells a broad range of products, from logistic capabilities and add-on value to some of the biggest names in tech. TECD’s products, in short, allow cloud, IoT, and other tech applications to work seamlessly.And let’s face it, that’s a niche that will benefit from the coronavirus crisis. With so many people shut in their homes for nearly three months, and millions of workers switching to telecommuting, networking and other high-tech connection devices were in high demand. While the market slumped in February/March, TECD saw a huge jump in earnings for Q1. While Q1 is historically the company’s best of the year, the sequential gains going into Q1 2020, of 60%, were substantially higher than the 50% sequential gain recorded between Q4 2018 and Q1 2019. The results for Q1 2020 were solid; the company reported $4.88 in EPS, beating the forecast by 2%, on top of the strong sequential gain.Tech Data’s solid position in a niche bound to see gains was clear to Paulson. He increased his holding in the stock by 50%, buying over 66,000 shares to make his total holding 200,000. At the current share price, this worth $26.7 million. Reward potential is the name of the game for 5-star Northcoast analyst Keith Housum. In his note on this stock, in which he upgraded his firm’s stance from Neutral to Buy, Housum wrote, “The recent market dislocation has created a risk/reward profile that is leaning convincingly toward a great short term opportunity for investors to lock in a 18% gain to be recognized over next several months.”Housum set a $145 price target on TECD shares, suggesting an upside that now stands at 6.5% for the next 12 months. His is the only recent review of the stock in the TipRanks database – but the Smart Score on this stock, which analyzes 8 separate factors that influence future share price, is a perfect 10. (See Tech Data stock analysis at TipRanks)Navistar (NAV)The third stock on our list is Navistar, a major player in heavy industry. The company’s main subsidiary, International, is a name well-known to truckers; it produces heavy trucks, busses, and diesel engines for both the commercial markets and the defense industry. That cereal you ate for breakfast this morning? There’s good chance it was delivered to the grocery store in an International truck.The economic shutdowns in response to coronavirus hit NAV hard, and the company’s stock – which had been riding high after a strong Q4 earnings beat – has still not recovered from the February price crash. There are at least two bright spots. First, the Q1 losses were not quite as deep as expected; NAV reported a net loss of 33 cents per share, against the forecast of 38 cents. And second, the company is sitting on $1 billion in available cash, and requires about half that sum to maintain operations. It’s an enviable position for any company to hold, and, along with is one of the company’s clear strengths.That NAV has clear strengths is shown by Paulson’s move toward the stock. He bought up over 223,000 shares in Q1, opening a new position that is currently worth almost $5.8 million. Paulson is known for accepting risk – but he’s also known for betting big before the markets change direction.It’s worth paying attention, because on this one Paulson is heading at right angles to the Wall Street sentiment. BMP Capital’s Joel Tiss rates NAV a Hold, writing, “The company has done a tremendous amount of work to lower its cost structure, redesign its products, and gain back some lost market share all while trimming its less profitable product lines… and seeing that the need for new vehicles from large leasing and rental companies is projected to drop by as much as 50% y/y in 2020, we expect the company’s market share could come under further pressure this year.”Even with his Hold, however, Tiss does not give up on NAV. His $35 price target implies a solid upside of 34% for the coming year. (To watch Tiss’ track record, click here)NAV has a unanimous analyst consensus rating – a solid Hold, based on 6 reviews. The stock has been volatile in the past year, and the current share price is $26.68. At $31.33, the average price target indicates room for a potentially strong upside of 17%. (See Navistar stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Tech Data (TECD) delivered earnings and revenue surprises of 34.55% and 3.61%, respectively, for the quarter ended April 2020. Do the numbers hold clues to what lies ahead for the stock?
Shares of Tech Data (NASDAQ:TECD) rose 2.8% in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share increased 8.82% year over year to $2.22, which beat the estimate of $1.65.Revenue of $8,175,000,000 declined by 2.75% year over year, which beat the estimate of $7,890,000,000.Guidance Tech Data hasn't issued any earnings guidance for the time being.View more earnings on TECDRevenue guidance hasn't been issued by the company for now.Technicals 52-week high: $151.4752-week low: $80.20Price action over last quarter: down 3.03%Company Profile Tech Data Corp is a wholesale distributor of technology products. It acts as an intermediary in the technology supply chain by bringing products from technology vendors to market and providing customers with logistics capabilities. The firm's customers include value-added resellers, direct marketers, retailers, and corporate resellers. Nearly half of its product mix is broadline products including notebooks, desktops, and printers; the rest includes data center, software, mobility, and consumer electronics products. More than half of the firm's revenue is generated in the Americas and the rest from Europe.See more from Benzinga * Recap: Target Hospitality Q1 Earnings * Hoegh LNG Partners: Q1 Earnings Insights * Recap: Momo Q1 Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tech Data (TECD) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Tech Data (Nasdaq: TECD) today announced that it will report its results for the first quarter fiscal year 2021 before the market opens on Thursday, May 28, 2020. As previously announced, due to the pending acquisition by affiliates of the Apollo Funds, Tech Data will not host an earnings conference call or provide forward-looking guidance.
Tech Data (Nasdaq: TECD) today announced that CRN®, a brand of The Channel Company, has recognized 10 Tech Data executives across the globe to its esteemed 2020 Women of the Channel list. In addition, three of the honorees have also been named to this year’s elite CRN "Power 100" list.
Tech Data (Nasdaq: TECD) today announced that is has joined the Smart Cities Council as a North American Lead Member. The company is the first and only IT distributor and solutions aggregator to partner with the Smart Cities Council, a global coalition of leading companies advised by top universities, laboratories and standards bodies. The council is dedicated to making communities more livable, workable and sustainable with the power of smart technologies.
DLT Solutions, LLC., a wholly owned subsidiary of Tech Data (Nasdaq: TECD) and a premier government technology solutions aggregator, has been selected by Kemp Technologies to be its U.S. public sector distributor.
Tech Data (Nasdaq: TECD) today announced it has expanded its Cloud Solution Factory offering with the addition of Modern Workplace with Microsoft Secure Score that establishes a security baseline for Office 365 users with automated policy enforcement.