TD SYNNEX (NYSE:SNX) Price Target Cut to $138.00 by Analysts at UBS Group

TD SYNNEX (NYSE:SNX) had its price target decreased by UBS Group from $150.00 to $138.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. UBS Group’s price objective indicates a potential upside of 32.12% from the company’s previous close.

A number of other analysts have also recently weighed in on SNX. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Royal Bank of Canada increased their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. cut their price target on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a report on Friday. Barrington Research reaffirmed an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a report on Friday. Finally, StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

TD SYNNEX Trading Down 2.9 %

Shares of TD SYNNEX stock opened at $104.45 on Friday. TD SYNNEX has a 52-week low of $98.00 and a 52-week high of $145.10. The firm has a market capitalization of $8.81 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The company’s fifty day moving average price is $135.67 and its two-hundred day moving average price is $125.64.

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

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. This represents a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $114,171.12. Following the sale, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,172 shares of company stock worth $6,353,261. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC boosted its stake in TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares during the last quarter. Bessemer Group Inc. raised its holdings in TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after purchasing an additional 152 shares during the period. UMB Bank n.a. boosted its position in shares of TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after purchasing an additional 140 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of TD SYNNEX in the 3rd quarter valued at $55,000. Finally, Blue Trust Inc. increased its position in shares of TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after buying an additional 129 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.