TD SYNNEX (NYSE:SNX) Earns Outperform Rating from Barrington Research

TD SYNNEX (NYSE:SNX)‘s stock had its “outperform” rating reaffirmed by investment analysts at Barrington Research in a note issued to investors on Friday,Benzinga reports. They currently have a $156.00 target price on the business services provider’s stock. Barrington Research’s target price would suggest a potential upside of 44.65% from the company’s current price.

Several other research firms also recently commented on SNX. JPMorgan Chase & Co. increased their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the company from $122.00 to $147.00 in a report on Friday, January 10th. Royal Bank of Canada increased their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Barclays lifted their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.75.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $107.85 on Friday. TD SYNNEX has a 12-month low of $98.00 and a 12-month high of $145.10. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $136.32 and a 200 day moving average of $125.58.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The company had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. TD SYNNEX’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.99 earnings per share. On average, research analysts anticipate that TD SYNNEX will post 11.88 earnings per share for the current year.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the sale, the chief financial officer now owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,172 shares of company stock valued at $6,353,261. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its position in shares of TD SYNNEX by 117.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,259 shares of the business services provider’s stock worth $151,000 after purchasing an additional 679 shares in the last quarter. Cerity Partners LLC grew its stake in TD SYNNEX by 51.3% in the 3rd quarter. Cerity Partners LLC now owns 16,792 shares of the business services provider’s stock valued at $2,016,000 after acquiring an additional 5,691 shares during the period. The Manufacturers Life Insurance Company increased its holdings in TD SYNNEX by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 68,289 shares of the business services provider’s stock worth $8,200,000 after acquiring an additional 746 shares in the last quarter. Quantbot Technologies LP acquired a new position in TD SYNNEX during the third quarter worth $2,237,000. Finally, Bridgewater Associates LP grew its position in shares of TD SYNNEX by 493.7% in the third quarter. Bridgewater Associates LP now owns 77,506 shares of the business services provider’s stock valued at $9,307,000 after purchasing an additional 64,452 shares during the period. Hedge funds and other 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.