TD SYNNEX Co. (NYSE:SNX) Receives $134.75 Average Price Target from Analysts

Shares of TD SYNNEX Co. (NYSE:SNX) have earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $134.75.

A number of brokerages have recently commented on SNX. Barclays upped their price target on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. Loop Capital restated a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $116.90 on Friday. TD SYNNEX has a 1-year low of $98.70 and a 1-year high of $133.85. The firm has a fifty day simple moving average of $120.23 and a 200-day simple moving average of $119.04. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.14 and a beta of 1.47.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. During the same period in the prior year, the company earned $2.71 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts expect that TD SYNNEX will post 11.03 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

Insiders Place Their Bets

In other news, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dennis Polk sold 15,689 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the sale, the insider now owns 134,706 shares of the company’s stock, valued at $15,751,172.58. This trade represents a 10.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,155 shares of company stock worth $8,598,095 over the last quarter. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNX. V Square Quantitative Management LLC bought a new position in shares of TD SYNNEX in the third quarter valued at approximately $30,000. UMB Bank n.a. increased its holdings in TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in TD SYNNEX in the 3rd quarter valued at $37,000. Blue Trust Inc. raised its position in TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of TD SYNNEX during the second quarter worth $52,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.