TD SYNNEX (NYSE:SNX) Given New $137.00 Price Target at The Goldman Sachs Group

TD SYNNEX (NYSE:SNX) had its price target reduced by stock analysts at The Goldman Sachs Group from $154.00 to $137.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 31.16% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. UBS Group reduced their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Friday. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Royal Bank of Canada boosted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. decreased their target price on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Barrington Research reissued an “outperform” rating and issued a $156.00 price target on shares of TD SYNNEX in a report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $104.45 on Friday. TD SYNNEX has a 52 week low of $98.00 and a 52 week high of $145.10. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $135.67 and a 200-day moving average price of $125.64. The company has a market cap of $8.81 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. During the same quarter last year, the business posted $2.99 earnings per share. TD SYNNEX’s revenue was up 4.0% on a year-over-year basis. Equities analysts anticipate that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares of the company’s stock, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now 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 disclosure for this sale can be found here. Insiders sold 49,172 shares of company stock worth $6,353,261 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in TD SYNNEX in the 4th quarter valued at $121,199,000. Ninety One UK Ltd boosted its stake in TD SYNNEX by 75.4% during the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after buying an additional 1,016,251 shares during the period. Nuveen Asset Management LLC grew its position in TD SYNNEX by 343.2% during the fourth quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock worth $141,913,000 after buying an additional 937,040 shares in the last quarter. JPMorgan Chase & Co. increased its stake in 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 acquiring an additional 813,634 shares during the last quarter. Finally, LSV Asset Management raised its holdings in shares of TD SYNNEX by 46.9% in the 4th quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider’s stock valued at $201,235,000 after acquiring an additional 547,692 shares in the last quarter. Hedge funds and other institutional investors 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.