TD SYNNEX (NYSE:SNX) Given “Outperform” Rating at Barrington Research

TD SYNNEX (NYSE:SNX)‘s stock had its “outperform” rating reissued by investment analysts at Barrington Research in a note issued to investors on Monday, Benzinga reports. They presently have a $138.00 price target on the business services provider’s stock. Barrington Research’s price target points to a potential upside of 16.62% from the company’s current price.

Several other brokerages have also weighed in on SNX. UBS Group boosted their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. reduced their price objective on 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 upgraded shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $135.00 to $140.00 in a research note on Monday, July 15th. Finally, Bank of America dropped their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, 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 traded up $0.30 during trading on Monday, reaching $118.33. The company’s stock had a trading volume of 44,326 shares, compared to its average volume of 825,000. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.13 and a beta of 1.49. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $116.04 and a two-hundred day moving average of $117.55. TD SYNNEX has a twelve month low of $89.73 and a twelve month high of $133.85.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The company had revenue of $13.95 billion during the quarter, compared to analyst estimates of $14.12 billion. On average, sell-side analysts predict that TD SYNNEX will post 11.22 EPS for the current fiscal year.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the transaction, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the sale, the chief financial officer now directly owns 45,115 shares in the company, valued at $4,968,966.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction dated 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 directly owns 140,205 shares in the company, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. Insiders have sold a total of 35,188 shares of company stock worth $3,998,655 in the last ninety days. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. 9258 Wealth Management LLC acquired a new stake in TD SYNNEX in the fourth quarter worth approximately $207,000. Norges Bank acquired a new stake in shares of TD SYNNEX in the fourth quarter valued at $79,506,000. Corient Private Wealth LLC lifted its stake in TD SYNNEX by 139.6% during the fourth quarter. Corient Private Wealth LLC now owns 31,140 shares of the business services provider’s stock valued at $3,351,000 after purchasing an additional 18,141 shares during the last quarter. Assetmark Inc. boosted its holdings in TD SYNNEX by 11.8% during the fourth quarter. Assetmark Inc. now owns 2,030 shares of the business services provider’s stock worth $218,000 after buying an additional 214 shares in the last quarter. Finally, Commerce Bank acquired a new position in TD SYNNEX in the fourth quarter worth approximately $588,000. 84.00% of the stock is currently owned by institutional investors.

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.