Analysts Set TD SYNNEX Co. (NYSE:SNX) Target Price at $134.75

Shares of TD SYNNEX Co. (NYSE:SNX) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $139.00.

Several research firms have issued reports on SNX. Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research note on Tuesday, January 7th. Barrington Research reiterated an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Barclays raised their price target on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Loop Capital reiterated a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $134.16 on Wednesday. TD SYNNEX has a twelve month low of $98.70 and a twelve month high of $134.48. The company has a 50 day moving average of $120.14 and a 200 day moving average of $117.90. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.42 billion, a P/E ratio of 17.36, a PEG ratio of 1.14 and a beta of 1.46.

Insider Buying and Selling

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction 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 transaction, the director now 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 legal filing with the SEC, which is available at this link. Also, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the sale, the chief financial officer now owns 48,362 shares of the company’s stock, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,876 shares of company stock worth $8,196,529. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Several hedge funds and other institutional investors have recently modified their holdings of SNX. Commonwealth Equity Services LLC bought a new stake in shares of TD SYNNEX during the second quarter worth $351,000. Victory Capital Management Inc. lifted its holdings in TD SYNNEX by 52.3% during the 2nd quarter. Victory Capital Management Inc. now owns 331,992 shares of the business services provider’s stock valued at $38,312,000 after buying an additional 114,009 shares in the last quarter. Arizona State Retirement System boosted its position in TD SYNNEX by 33.9% in the 2nd quarter. Arizona State Retirement System now owns 21,519 shares of the business services provider’s stock valued at $2,483,000 after buying an additional 5,444 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of TD SYNNEX during the second quarter worth approximately $52,000. Finally, Choreo LLC bought a new stake in shares of TD SYNNEX during the second quarter valued at approximately $376,000. 84.00% of the stock is currently owned by hedge funds and other 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.