Barrington Research Reaffirms “Outperform” Rating for TD SYNNEX (NYSE:SNX)

TD SYNNEX (NYSE:SNX)‘s stock had its “outperform” rating restated by Barrington Research in a report issued on Wednesday, Benzinga reports. They currently have a $138.00 price target on the business services provider’s stock. Barrington Research’s price objective points to a potential upside of 18.25% from the stock’s current price.

Other research analysts have also issued reports about the company. Bank of America lifted their price objective on TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Barclays increased their price target on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. Cfra raised their price objective on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday, March 26th. JPMorgan Chase & Co. boosted their target price on shares of TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Finally, Royal Bank of Canada raised their price target on shares of TD SYNNEX from $118.00 to $135.00 and gave the stock a “sector perform” rating in a report on Tuesday, June 11th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.36.

TD SYNNEX Trading Down 0.2 %

NYSE:SNX traded down $0.26 on Wednesday, reaching $116.70. 62,136 shares of the stock traded hands, compared to its average volume of 887,057. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. TD SYNNEX has a 1-year low of $87.68 and a 1-year high of $133.85. The company’s 50 day moving average is $124.62 and its 200-day moving average is $112.46. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 1.25 and a beta of 1.55.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. The business had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. Equities research analysts anticipate that TD SYNNEX will post 11.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the completion of the transaction, the chief executive officer now owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. raised its holdings in shares of TD SYNNEX by 121.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. Rise Advisors LLC purchased a new stake in TD SYNNEX in the first quarter worth $32,000. Pineridge Advisors LLC purchased a new stake in TD SYNNEX in the fourth quarter worth $33,000. Daiwa Securities Group Inc. bought a new stake in shares of TD SYNNEX in the first quarter valued at $68,000. Finally, Gladius Capital Management LP lifted its position in shares of TD SYNNEX by 50.8% during the 3rd quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after buying an additional 250 shares during the last quarter. 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.