TD SYNNEX (NYSE:SNX - Get Free Report)'s stock had its "outperform" rating restated by investment analysts at Barrington Research in a report issued on Monday, Benzinga reports. They presently have a $138.00 price target on the business services provider's stock. Barrington Research's price objective would indicate a potential upside of 16.62% from the stock's current price.
Several other analysts also recently issued reports on the company. Bank of America reduced their price objective on TD SYNNEX from $135.00 to $132.00 and set a "buy" rating on the stock in a research report on Thursday, June 27th. JPMorgan Chase & Co. reduced their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a "neutral" rating on the stock in a report on Wednesday, June 26th. StockNews.com raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, August 16th. UBS Group boosted their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, June 26th. Finally, Royal Bank of Canada upgraded shares of TD SYNNEX from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $135.00 to $140.00 in a research 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's stock. According to data from MarketBeat, TD SYNNEX presently has a consensus rating of "Moderate Buy" and an average target price of $128.25.
View Our Latest Stock Report on TD SYNNEX
Shares of NYSE:SNX traded up $0.30 during midday trading on Monday, hitting $118.33. 44,326 shares of the stock were exchanged, compared to its average volume of 825,000. TD SYNNEX has a twelve month low of $89.73 and a twelve month high of $133.85. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $116.04 and a 200-day moving average price of $117.55. The stock has a market cap of $10.11 billion, a P/E ratio of 16.57, a PEG ratio of 1.13 and a beta of 1.49.
TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.66 by ($0.05). TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The business had revenue of $13.95 billion for the quarter, compared to analyst estimates of $14.12 billion. On average, research analysts forecast that TD SYNNEX will post 11.22 earnings per share for the current year.
In related news, COO Patrick Zammit sold 3,513 shares of the stock in a transaction 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 transaction, the chief operating officer now directly owns 140,205 shares of the company's stock, valued at approximately $15,882,422.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Dennis Polk sold 20,000 shares of the business's stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,580,095.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Zammit sold 3,513 shares of the 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 sale, the chief operating officer now directly owns 140,205 shares of the company's stock, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. Insiders sold 35,188 shares of company stock valued at $3,998,655 in the last ninety days. Company insiders own 1.90% of the company's stock.
Several institutional investors have recently bought and sold shares of SNX. Vanguard Group Inc. lifted its holdings in shares of TD SYNNEX by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider's stock valued at $751,143,000 after acquiring an additional 1,261,474 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of TD SYNNEX by 58.9% during the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider's stock worth $313,469,000 after purchasing an additional 1,006,569 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of TD SYNNEX by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider's stock worth $258,482,000 after buying an additional 177,460 shares during the period. AQR Capital Management LLC grew its stake in shares of TD SYNNEX by 21.1% in the second quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider's stock valued at $178,421,000 after buying an additional 269,759 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of TD SYNNEX by 38.5% during the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider's stock valued at $172,081,000 after buying an additional 421,908 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.
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.
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