Barrington Research Raises TD SYNNEX (NYSE:SNX) Price Target to $138.00

TD SYNNEX (NYSE:SNX) had its price objective increased by investment analysts at Barrington Research from $122.00 to $138.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Barrington Research’s price target would indicate a potential upside of 21.67% from the company’s current price.

A number of other equities analysts have also recently issued reports on SNX. Cfra raised their target price on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and set a $118.00 price objective (up previously from $110.00) on shares of TD SYNNEX in a research note on Wednesday. Barclays boosted their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. lowered shares of TD SYNNEX from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $112.00 to $113.00 in a report on Monday, January 8th. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and an average target price of $116.00.

TD SYNNEX Trading Down 2.2 %

Shares of SNX traded down $2.58 on Thursday, reaching $113.42. 2,638,357 shares of the company’s stock were exchanged, compared to its average volume of 761,681. The business has a 50 day moving average price of $103.43 and a two-hundred day moving average price of $100.94. TD SYNNEX has a 12 month low of $86.30 and a 12 month high of $116.05. The stock has a market capitalization of $10.10 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.07 and a beta of 1.63. The company has a current ratio of 1.22, a quick ratio of 0.77 and a debt-to-equity ratio of 0.38.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, January 9th. The business services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.56 by $0.57. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The company had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $14.54 billion. During the same quarter in the previous year, the company posted $3.30 EPS. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. Research analysts anticipate that TD SYNNEX will post 11.17 earnings per share for the current year.

Insider Activity at TD SYNNEX

In related news, insider Michael Urban sold 4,355 shares of the company’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $107.00, for a total transaction of $465,985.00. Following the sale, the insider now owns 20,270 shares in the company, valued at $2,168,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Apollo Management Holdings Gp, sold 2,250,000 shares of TD SYNNEX stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $101.50, for a total value of $228,375,000.00. Following the completion of the transaction, the insider now owns 26,153,049 shares of the company’s stock, valued at approximately $2,654,534,473.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Urban sold 4,355 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $107.00, for a total transaction of $465,985.00. Following the completion of the sale, the insider now directly owns 20,270 shares in the company, valued at $2,168,890. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,289,905 shares of company stock valued at $232,556,362. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

A number of hedge funds and other institutional investors have recently bought and sold shares of SNX. Pineridge Advisors LLC acquired a new stake in shares of TD SYNNEX in the fourth quarter valued at approximately $33,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of TD SYNNEX by 95.2% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider’s stock worth $40,000 after acquiring an additional 200 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in TD SYNNEX in the 1st quarter valued at $51,000. Covestor Ltd boosted its position in TD SYNNEX by 91.5% during the first quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock worth $72,000 after purchasing an additional 333 shares during the period. Finally, Gladius Capital Management LP increased its holdings in shares of TD SYNNEX by 50.8% in the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

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.