TD SYNNEX Co. (NYSE:SNX) Receives $134.75 Consensus Price Target from Brokerages

TD SYNNEX Co. (NYSE:SNX) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $139.00.

A number of research firms have recently commented on SNX. Loop Capital reiterated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the stock from $122.00 to $147.00 in a research note on Friday. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, Barclays raised their price objective on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th.

TD SYNNEX Price Performance

SNX stock opened at $134.16 on Wednesday. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. 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 $134.48. The stock’s fifty day simple moving average is $119.77 and its 200-day simple moving average is $117.85.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the transaction, the insider now owns 23,339 shares in the company, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was 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 represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,876 shares of company stock valued at $8,196,529. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

A number of large investors have recently made changes to their positions in the company. CIBC Asset Management Inc raised its stake in TD SYNNEX by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after purchasing an additional 86 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in TD SYNNEX by 3.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock worth $315,000 after acquiring an additional 90 shares in the last quarter. AlphaMark Advisors LLC boosted its position in TD SYNNEX by 1.3% during the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after acquiring an additional 100 shares during the period. Atria Investments Inc grew its stake in TD SYNNEX by 4.1% during the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock valued at $344,000 after acquiring an additional 112 shares in the last quarter. Finally, Meixler Investment Management Ltd. increased its holdings in shares of TD SYNNEX by 2.1% in the 3rd quarter. Meixler Investment Management Ltd. now owns 5,814 shares of the business services provider’s stock valued at $698,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.