TD SYNNEX’s (SNX) “Outperform” Rating Reaffirmed at Barrington Research

TD SYNNEX (NYSE:SNX)‘s stock had its “outperform” rating reiterated by Barrington Research in a research report issued on Friday,Benzinga reports. They currently have a $156.00 target price on the business services provider’s stock. Barrington Research’s price objective indicates a potential upside of 44.65% from the stock’s current price.

A number of 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 research report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Royal Bank of Canada upped their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Barclays increased their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.75.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $107.85 on Friday. 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 stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The business has a 50-day moving average of $136.32 and a 200 day moving average of $125.58. TD SYNNEX has a 12 month low of $98.00 and a 12 month high of $145.10.

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 analysts’ consensus estimates of $2.87 by ($0.07). The company had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.99 EPS. As a group, sell-side analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % 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, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the sale, the chief executive officer now owns 165,604 shares of the company’s stock, valued at $23,681,372. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock valued at $6,353,261 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

A number of hedge funds have recently made changes to their positions in SNX. Proficio Capital Partners LLC purchased a new position in shares of TD SYNNEX in the 4th quarter worth $5,158,000. JPMorgan Chase & Co. raised its holdings in shares of TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after purchasing an additional 813,634 shares during the period. IFP Advisors Inc lifted its stake in shares of TD SYNNEX by 976.6% in the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 918 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of TD SYNNEX during the 4th quarter worth about $2,260,000. Finally, Charles Schwab Investment Management Inc. increased its position in TD SYNNEX by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock worth $59,512,000 after purchasing an additional 9,915 shares in the last quarter. 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.