TD SYNNEX’s (SNX) “Outperform” Rating Reiterated at Barrington Research

TD SYNNEX (NYSE:SNX)‘s stock had its “outperform” rating restated by analysts at Barrington Research in a research note issued on Monday, Benzinga reports. They currently have a $138.00 price objective on the business services provider’s stock. Barrington Research’s price objective would suggest a potential upside of 16.08% from the stock’s previous close.

Other analysts have also issued reports about the stock. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. dropped their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $135.00 to $140.00 in a research note on Monday, July 15th. UBS Group increased their target price on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Bank of America cut their price target on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.25.

TD SYNNEX Stock Up 0.3 %

Shares of SNX opened at $118.88 on Monday. The firm has a market capitalization of $10.16 billion, a P/E ratio of 16.65, a P/E/G ratio of 1.13 and a beta of 1.49. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47. TD SYNNEX has a 12-month low of $89.73 and a 12-month high of $133.85. The firm has a fifty day moving average price of $116.12 and a 200-day moving average price of $117.75.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The firm had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $14.12 billion. Equities research analysts expect that TD SYNNEX will post 11.22 earnings per share for the current year.

Insider Transactions at TD SYNNEX

In other news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the sale, the insider now owns 134,706 shares of the company’s stock, valued at $15,580,095.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,188 shares of company stock valued at $3,998,655. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of TD SYNNEX by 23.4% in the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after purchasing an additional 1,261,474 shares during the period. Pacer Advisors Inc. boosted its position in TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after buying an additional 1,006,569 shares during the last quarter. Ninety One UK Ltd increased its holdings in TD SYNNEX by 131.0% in the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock worth $158,298,000 after buying an additional 777,924 shares during the period. Norges Bank purchased a new position in TD SYNNEX during the 4th quarter worth approximately $79,506,000. Finally, Lind Value II ApS acquired a new stake in TD SYNNEX during the 1st quarter valued at approximately $77,858,000. 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.