Tue, Aug. 18, 10:09 AM
- Believing the company's PC/peripherals exposure spells top-line risk, BofA/Merrill's Param Singh has launched coverage on Tech Data (NASDAQ:TECD) with an Underperform rating and $49 target.
- The IT distributor's shares are down 10% YTD, and now trade for just 10.7x an FY17 (ends Jan. '17) EPS consensus of $5.31.
Wed, Jun. 3, 6:09 PM| Wed, Jun. 3, 6:09 PM | Comment!
Thu, Mar. 12, 1:41 PM
- Predicting a strong dollar will have a big impact on the company's bottom line, Barclays' Ben Reitzes has downgraded Ingram Micro (IM -3.8%) to Equal-weight, and slashed his target by $3 to $26.
- Reitzes notes Europe accounted for 30% of Ingram's 2014 revenue, and that Q4 European sales missed Barclays' estimates in spite of benefiting from an extra week. "Management pointed to aggressive pricing and hits from currency, which materially depressed revenues. We don't see why those trends would abate over the near term, especially with the Euro depreciating further."
- Fellow IT product distributors Tech Data (TECD -5.5%), PC Connection (PCCC -3%), Synnex (SNX -1.9%), and CDW (CDW -1.4%) are also selling off. Tech Data received 60% of its FQ3 sales from Europe; its FQ4 report arrives on March 19.
- Reitzes also downgraded HP (NYSE:HPQ) to Equal-weight on forex concerns, but the tech giant has brushed off the downgrade, as well as Intel's Q1 warning.
Jul. 16, 2014, 11:35 AM
- Ingram Micro (IM +3.4%) has received a 2-notch upgrade to Buy from BofA/Merrill. Fellow IT hardware distributor Tech Data (TECD +1.8%) has been upgraded to Neutral.
- BofA/Merrill sees Ingram benefiting from PC strength, improving margins, and a greater mix of higher-margin cloud/mobility sales.
- IDC and Gartner provided better-than-expected Q2 PC shipment estimates last week, and Intel just reported 6% Y/Y sales growth for its PC CPU reporting segment.
Apr. 29, 2014, 9:48 AM
- Chegg (CHGG +6.7%) has been upgraded to Buy by BofA/Merrill ahead of Thursday's Q1 report.
- AudioCodes (AUDC +2.5%) has been started at Outperform by William Blair ahead of tomorrow's Q1 report.
- IT hardware distributors Tech Data (TECD +2%) and Ingram Micro (IM +2%) have been upgraded to Outperform by Raymond James.
- IPO underwriters have assigned four bullish ratings, and one neutral rating, to GrubHub (GRUB -0.1%), and six bullish ratings to Five9 (FIVN +6.4%).
- Advent Software (ADVS +3.8%) has been upgraded to Buy by Sandler O'Neill after posting Q1 results yesterday afternoon. Advent guided for Q2 revenue of $96M-$98M (below a $99.2M consensus), and full-year revenue of $395M-$403M (in-line with a $400.2M consensus). The company also announced a $0.13/share quarterly dividend (1.9% yield).
Mar. 21, 2013, 6:33 PM
Mar. 21, 2013, 5:09 PM
May 16, 2012, 1:15 PMGoldman says current Q1 Street estimates for Tech Data (TECD -1.6%) are too agressive given European weakness, and the firm sees risk to 2H revenues. It maintains its EPS estimate of $1.12 on $6.21B in revenue, which is 15% below consensus estimates of $1.17 per share on $6.19B in revenue. | May 16, 2012, 1:15 PM | Comment!
Feb. 28, 2012, 3:43 PM
Aug. 18, 2011, 10:12 AMIT products distributor Tech Data (TECD +0.6%) is outperforming after reporting FQ2 revenue of $6.45B (+18% Y/Y) and EPS of $1.10, beating consensus by $320M and $0.14. The company is authorizing a new $100M share repurchase program. It expects "mid-single digit organic sales growth" in both the U.S. and Europe in FQ2. | Aug. 18, 2011, 10:12 AM | Comment!
Apr. 18, 2011, 7:47 AMUBS has drawn up a list of 27 possible LBO targets, according to Barron's, all of which could see share movement today on deal speculation. The retailer-heavy list of stocks to watch: AAP, ARO, ARRS, AVT, CA, DSW, FINL, GCO, HRS, IM, JBL, JWN, LNCR, LTD, MHP, MOLX, MW, PLCE, PSS, ROST, RSH, SAI, SEE, TECD. | Apr. 18, 2011, 7:47 AM | Comment!
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