TD SYNNEX (NYSE:SNX) Earns Outperform Rating from Barrington Research

Barrington Research restated their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a report issued on Monday, Benzinga reports. The firm currently has a $138.00 price target on the business services provider’s stock.

A number of other brokerages have also recently weighed in on SNX. UBS Group boosted their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a buy rating in a research note on Wednesday, June 26th. StockNews.com raised shares of TD SYNNEX from a hold rating to a buy rating in a research report on Friday, August 16th. JPMorgan Chase & Co. reduced their target price on TD SYNNEX from $126.00 to $123.00 and set a neutral rating for the company in a research report on Wednesday, June 26th. Bank of America decreased their price objective on TD SYNNEX from $135.00 to $132.00 and set a buy rating on the stock in a report on Thursday, June 27th. Finally, Royal Bank of Canada raised shares of TD SYNNEX from a sector perform rating to an outperform rating and upped their target price for the stock from $135.00 to $140.00 in a report on Monday, July 15th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $128.25.

TD SYNNEX Trading Down 1.3 %

TD SYNNEX stock opened at $117.29 on Monday. TD SYNNEX has a one year low of $89.73 and a one year high of $133.85. The company’s fifty day moving average price is $116.11 and its two-hundred day moving average price is $117.75. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 1.18 and a beta of 1.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). The company had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $14.12 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. On average, analysts forecast that TD SYNNEX will post 11.22 earnings per share for the current fiscal year.

Insider Transactions at TD SYNNEX

In related news, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the sale, the chief operating officer now directly owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Patrick Zammit sold 3,513 shares of TD SYNNEX stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the sale, the chief operating officer now owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Marshall Witt sold 11,441 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the transaction, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The disclosure for this sale can be found here. Insiders sold 15,188 shares of company stock valued at $1,685,455 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. increased its position in shares of TD SYNNEX by 121.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 140 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of TD SYNNEX during the 1st quarter worth approximately $32,000. Pineridge Advisors LLC acquired a new stake in shares of TD SYNNEX in the 4th quarter valued at approximately $33,000. Blue Trust Inc. grew its stake in shares of TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after buying an additional 123 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in 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.