TD SYNNEX (NYSE:SNX) Price Target Cut to $132.00

TD SYNNEX (NYSE:SNX) had its price target lowered by analysts at Bank of America from $135.00 to $132.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Bank of America‘s price target indicates a potential upside of 14.43% from the company’s previous close.

A number of other brokerages have also recently issued reports on SNX. Cfra upped their target price on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a report on Tuesday, March 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $135.00 price target on shares of TD SYNNEX in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday. Barrington Research reissued an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Wednesday. Finally, UBS Group increased their price target on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.10.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $115.35 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.26. TD SYNNEX has a 52 week low of $89.73 and a 52 week high of $133.85. The stock has a market capitalization of $10.28 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.12 and a beta of 1.55. The stock has a fifty day moving average of $124.72 and a 200-day moving average of $112.61.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The company had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $14.37 billion. On average, sell-side analysts expect that TD SYNNEX will post 11.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Dennis Polk sold 20,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Dennis Polk sold 20,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the sale, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $5,833,100 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of TD SYNNEX

Hedge funds have recently made changes to their positions in the company. Diversified Trust Co raised its stake in shares of TD SYNNEX by 15.9% during the 4th quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock valued at $322,000 after purchasing an additional 409 shares during the period. Norges Bank bought a new stake in shares of TD SYNNEX during the 4th quarter valued at $79,506,000. Principal Financial Group Inc. raised its stake in shares of TD SYNNEX by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 733,239 shares of the business services provider’s stock valued at $78,904,000 after purchasing an additional 13,730 shares during the period. Raymond James Trust N.A. raised its stake in shares of TD SYNNEX by 9.0% during the 4th quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock valued at $389,000 after purchasing an additional 297 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of TD SYNNEX by 8.5% during the 4th quarter. New York State Common Retirement Fund now owns 140,371 shares of the business services provider’s stock valued at $15,105,000 after purchasing an additional 10,947 shares during the period. 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.