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

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

SNX has been the subject of several other reports. Cfra boosted their price objective on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a report on Tuesday. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. JPMorgan Chase & Co. cut shares of TD SYNNEX from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $112.00 to $113.00 in a research note on Monday, January 8th. Barclays upped their price target on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $118.00 price objective (up previously from $110.00) on shares of TD SYNNEX in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and an average price target of $116.00.

TD SYNNEX Stock Down 2.2 %

NYSE SNX traded down $2.58 during mid-day trading on Thursday, reaching $113.42. The stock had a trading volume of 2,638,357 shares, compared to its average volume of 761,681. The company has a fifty day moving average price of $103.43 and a 200 day moving average price of $100.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.77. TD SYNNEX has a 1 year low of $86.30 and a 1 year high of $116.05. The stock has a market cap of $10.10 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 1.07 and a beta of 1.63.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, January 9th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.57. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. The firm had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $14.54 billion. During the same period in the prior year, the company posted $3.30 earnings per share. The company’s quarterly revenue was down 11.3% on a year-over-year basis. On average, research analysts expect that TD SYNNEX will post 11.17 earnings per share for the current year.

Insider Activity at TD SYNNEX

In other news, Director Fred A. Breidenbach sold 3,849 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $103.61, for a total transaction of $398,794.89. Following the transaction, the director now directly owns 18,148 shares of the company’s stock, valued at $1,880,314.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Fred A. Breidenbach sold 3,849 shares of TD SYNNEX stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $103.61, for a total value of $398,794.89. Following the completion of the sale, the director now directly owns 18,148 shares in the company, valued at $1,880,314.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Apollo Management Holdings Gp, sold 2,250,000 shares of the firm’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $101.50, for a total transaction of $228,375,000.00. Following the transaction, the insider now directly owns 26,153,049 shares in the company, valued at approximately $2,654,534,473.50. The disclosure for this sale can be found here. Insiders sold 2,289,905 shares of company stock worth $232,556,362 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of TD SYNNEX

Several hedge funds and other institutional investors have recently bought and sold shares of SNX. SummerHaven Investment Management LLC raised its stake in TD SYNNEX by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,499 shares of the business services provider’s stock valued at $807,000 after buying an additional 102 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of TD SYNNEX by 4.3% during the first quarter. Captrust Financial Advisors now owns 3,202 shares of the business services provider’s stock valued at $330,000 after acquiring an additional 133 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of TD SYNNEX by 0.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,687 shares of the business services provider’s stock valued at $1,702,000 after purchasing an additional 140 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in TD SYNNEX by 0.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 35,805 shares of the business services provider’s stock worth $3,391,000 after purchasing an additional 141 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its position in TD SYNNEX by 0.6% during the 4th quarter. Teacher Retirement System of Texas now owns 23,242 shares of the business services provider’s stock worth $2,501,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

About TD SYNNEX

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.