Royal Bank of Canada Reaffirms “Outperform” Rating for TD SYNNEX (NYSE:SNX)

Royal Bank of Canada reiterated their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a research report released on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $140.00 price objective on the business services provider’s stock.

Other research analysts have also issued reports about the company. Barclays lifted their target price on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Barrington Research reissued an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Loop Capital reaffirmed a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th. Finally, StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.75.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $122.01 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. TD SYNNEX has a 52-week low of $98.70 and a 52-week high of $133.85. The firm has a market cap of $10.38 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The company’s 50 day moving average is $119.77 and its two-hundred day moving average is $117.85.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the transaction, the director now owns 171,080 shares of the company’s stock, valued at approximately $20,652,777.60. This trade represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the sale, the chief financial officer now owns 48,362 shares in the company, 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. Insiders have sold 67,876 shares of company stock worth $8,196,529 over the last three months. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in TD SYNNEX during the 3rd quarter worth $30,000. UMB Bank n.a. boosted its stake in shares of TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after buying an additional 144 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in shares of TD SYNNEX during the third quarter worth about $37,000. Ashton Thomas Private Wealth LLC acquired a new position in TD SYNNEX in the 2nd quarter valued at about $52,000. Finally, Point72 DIFC Ltd purchased a new stake in TD SYNNEX during the 3rd quarter valued at approximately $55,000. 84.00% of the stock is currently owned by hedge funds and other 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.