Barrington Research Reiterates Outperform Rating for TD SYNNEX (NYSE:SNX)

TD SYNNEX (NYSE:SNXGet Free Report)‘s stock had its “outperform” rating restated by equities researchers at Barrington Research in a research note issued on Friday,Benzinga reports. They presently have a $156.00 price objective on the business services provider’s stock. Barrington Research’s target price suggests a potential upside of 10.12% from the stock’s current price.

Several other brokerages have also issued reports on SNX. UBS Group dropped their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Friday, March 28th. The Goldman Sachs Group dropped their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, June 27th. Royal Bank Of Canada restated an “outperform” rating and issued a $145.00 price objective on shares of TD SYNNEX in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average price target of $142.56.

Get Our Latest Report on SNX

TD SYNNEX Price Performance

SNX stock opened at $141.66 on Friday. The firm has a 50 day moving average of $127.26 and a 200-day moving average of $125.76. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. TD SYNNEX has a 12 month low of $92.23 and a 12 month high of $145.10. The firm has a market capitalization of $11.68 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 1.17 and a beta of 1.30.

TD SYNNEX (NYSE:SNXGet Free Report) last announced its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.28. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The business had revenue of $14.95 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same period in the previous year, the business posted $2.73 earnings per share. TD SYNNEX’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

Insider Activity at TD SYNNEX

In related news, insider Miriam Anne Murphy sold 3,000 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the sale, the insider directly owned 14,883 shares in the company, valued at $1,637,130. This represents a 16.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard T. Hume sold 63,310 shares of the company’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the sale, the director owned 67,515 shares of the company’s stock, valued at $9,197,568.45. This represents a 48.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,819 shares of company stock worth $9,143,874 in the last three months. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNX. Jones Financial Companies Lllp raised its holdings in TD SYNNEX by 196.5% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider’s stock valued at $59,000 after buying an additional 336 shares during the last quarter. Atria Investments Inc increased its position in TD SYNNEX by 26.0% during the 4th quarter. Atria Investments Inc now owns 3,607 shares of the business services provider’s stock valued at $423,000 after purchasing an additional 745 shares during the period. M&T Bank Corp increased its position in TD SYNNEX by 18.1% during the 4th quarter. M&T Bank Corp now owns 2,583 shares of the business services provider’s stock valued at $303,000 after purchasing an additional 395 shares during the period. Proficio Capital Partners LLC purchased a new position in TD SYNNEX during the 4th quarter valued at $5,158,000. Finally, PNC Financial Services Group Inc. increased its position in TD SYNNEX by 11.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,627 shares of the business services provider’s stock valued at $543,000 after purchasing an additional 476 shares during the period. 84.00% of the stock is currently owned by institutional investors.

About TD SYNNEX

(Get Free Report)

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.

Featured Stories

Analyst Recommendations for TD SYNNEX (NYSE:SNX)

Receive News & Ratings for TD SYNNEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TD SYNNEX and related companies with MarketBeat.com's FREE daily email newsletter.