TD SYNNEX’s (SNX) Outperform Rating Reaffirmed at Barrington Research

Barrington Research reiterated their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a report issued on Tuesday morning,Benzinga reports. Barrington Research currently has a $156.00 price target on the business services provider’s stock.

Several other analysts have also weighed in on the stock. Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. Loop Capital increased their price objective on shares of TD SYNNEX from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Morgan Stanley increased their price objective on shares of TD SYNNEX from $155.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Royal Bank Of Canada increased their price objective on shares of TD SYNNEX from $145.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, August 22nd. Finally, Bank of America increased their price objective on shares of TD SYNNEX from $156.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $153.10.

TD SYNNEX Trading Up 0.1%

Shares of SNX stock opened at $151.67 on Tuesday. TD SYNNEX has a 1 year low of $92.23 and a 1 year high of $154.44. The firm’s fifty day simple moving average is $147.45 and its 200 day simple moving average is $130.10. The firm has a market capitalization of $12.51 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.23 and a beta of 1.35. 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 (NYSE:SNX) last announced its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.28. The company had revenue of $14.95 billion during the quarter, compared to analysts’ expectations of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.73 EPS. As a group, sell-side analysts predict that TD SYNNEX will post 11.88 EPS for the current year.

Insider Activity at TD SYNNEX

In other news, Director Ann F. Vezina sold 812 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $150.42, for a total value of $122,141.04. Following the sale, the director directly owned 6,079 shares in the company, valued at $914,403.18. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard T. Hume sold 63,310 shares of TD SYNNEX stock in a transaction that occurred 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 completion of the sale, the director owned 67,515 shares in the company, valued at $9,197,568.45. This trade represents a 48.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,240 shares of company stock valued at $9,054,884. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of TD SYNNEX

A number of hedge funds and other institutional investors have recently made changes to their positions in SNX. ProShare Advisors LLC increased its holdings in TD SYNNEX by 7.0% during the fourth quarter. ProShare Advisors LLC now owns 3,547 shares of the business services provider’s stock worth $416,000 after buying an additional 232 shares during the last quarter. State of Wyoming increased its holdings in TD SYNNEX by 51.9% during the fourth quarter. State of Wyoming now owns 594 shares of the business services provider’s stock worth $70,000 after buying an additional 203 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in TD SYNNEX by 10.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,557 shares of the business services provider’s stock worth $22,466,000 after buying an additional 17,683 shares during the last quarter. Vise Technologies Inc. acquired a new position in TD SYNNEX during the fourth quarter worth $276,000. Finally, Forum Financial Management LP increased its holdings in TD SYNNEX by 10.0% during the fourth quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider’s stock worth $295,000 after buying an additional 229 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Company Profile

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.