TD SYNNEX (NYSE:SNX) Price Target Lowered to $132.00 at Cfra

TD SYNNEX (NYSE:SNX) had its target price decreased by Cfra from $147.00 to $132.00 in a research report sent to investors on Friday morning,Benzinga reports. Cfra currently has a buy rating on the business services provider’s stock.

Several other research firms also recently commented on SNX. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada raised their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. The Goldman Sachs Group dropped their price objective on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a report on Friday. Barrington Research reaffirmed an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a report on Friday. Finally, Barclays reduced their price objective on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

TD SYNNEX Price Performance

SNX opened at $104.45 on Friday. TD SYNNEX has a fifty-two week low of $98.00 and a fifty-two week high of $145.10. The firm has a 50-day moving average of $135.67 and a 200 day moving average of $125.53. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The firm has a market cap of $8.81 billion, a P/E ratio of 13.12, a PEG ratio of 1.06 and a beta of 1.51.

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

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a $0.44 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.68%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, the director now directly owns 4,856 shares of the company’s stock, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,172 shares of company stock worth $6,353,261 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock worth $2,607,000 after buying an additional 78 shares during the period. Quadrant Capital Group LLC lifted its stake in TD SYNNEX by 9.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock worth $125,000 after acquiring an additional 90 shares during the period. Ellevest Inc. boosted its holdings in TD SYNNEX by 3.9% in the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider’s stock valued at $280,000 after acquiring an additional 90 shares in the last quarter. Utah Retirement Systems increased its position in TD SYNNEX by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider’s stock valued at $481,000 after purchasing an additional 100 shares during the period. Finally, Amundi raised its holdings in TD SYNNEX by 22.3% in the 4th quarter. Amundi now owns 560 shares of the business services provider’s stock worth $66,000 after purchasing an additional 102 shares in the last quarter. 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.