TD SYNNEX (NYSE:SNX) Given Outperform Rating at Royal Bank of Canada

TD SYNNEX (NYSE:SNX)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a research note issued on Friday, Benzinga reports. They presently have a $140.00 target price on the business services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 16.99% from the company’s previous close.

Other research analysts have also issued research reports about the stock. UBS Group raised their price target on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Barrington Research reiterated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. 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. cut their price objective on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Finally, Bank of America reduced their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.57.

TD SYNNEX Stock Performance

Shares of SNX opened at $119.67 on Friday. 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 has a one year low of $89.73 and a one year high of $133.85. The firm has a 50-day moving average of $116.22 and a 200-day moving average of $117.97. The company has a market cap of $10.23 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. The company had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.71 earnings per share. As a group, equities analysts forecast that TD SYNNEX will post 11.22 earnings per share for the current year.

Insider Activity

In related news, CFO Marshall Witt sold 11,441 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the transaction, the chief financial officer now directly owns 45,115 shares in the company, valued at $4,968,966.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other TD SYNNEX news, 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 completion of the sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $397,952.64. Following the transaction, the chief operating officer now directly owns 140,205 shares in the company, valued at $15,882,422.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,188 shares of company stock worth $1,685,455. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of TD SYNNEX

Institutional investors have recently added to or reduced their stakes in the business. 9258 Wealth Management LLC purchased a new position in shares of TD SYNNEX in the fourth quarter worth about $207,000. Commerce Bank bought a new position in TD SYNNEX during the 4th quarter worth approximately $588,000. Hsbc Holdings PLC increased its stake in TD SYNNEX by 786.6% in the 4th quarter. Hsbc Holdings PLC now owns 28,060 shares of the business services provider’s stock worth $3,021,000 after purchasing an additional 24,895 shares during the period. Treasurer of the State of North Carolina lifted its position in TD SYNNEX by 33.1% in the fourth quarter. Treasurer of the State of North Carolina now owns 24,294 shares of the business services provider’s stock valued at $2,614,000 after purchasing an additional 6,041 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in shares of TD SYNNEX by 66,800.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,007 shares of the business services provider’s stock valued at $216,000 after purchasing an additional 2,004 shares during the period. 84.00% of the stock is currently owned by hedge funds and other 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.