Barclays Increases TD SYNNEX (NYSE:SNX) Price Target to $148.00

TD SYNNEX (NYSE:SNX) had its price objective hoisted by investment analysts at Barclays from $132.00 to $148.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Barclays‘s target price indicates a potential upside of 10.32% from the stock’s previous close.

SNX has been the subject of several other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Tuesday, January 7th. Loop Capital reissued a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and upped their price target for the stock from $122.00 to $147.00 in a research note on Friday. Finally, StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.00.

TD SYNNEX Stock Performance

SNX opened at $134.16 on Monday. The stock has a market cap of $11.42 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.14 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The firm has a fifty day moving average price of $120.14 and a 200 day moving average price of $117.90. TD SYNNEX has a 1 year low of $98.70 and a 1 year high of $134.48.

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the sale, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the transaction, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,876 shares of company stock worth $8,196,529. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SNX. V Square Quantitative Management LLC purchased a new stake in shares of TD SYNNEX during the third quarter valued at $30,000. UMB Bank n.a. grew its stake in shares of TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after buying an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in TD SYNNEX in the third quarter worth approximately $37,000. Ashton Thomas Private Wealth LLC bought a new stake in TD SYNNEX during the second quarter worth approximately $52,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of TD SYNNEX in the third quarter valued at about $55,000. 84.00% of the stock is currently owned by institutional investors.

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.