Barrington Research Reaffirms “Outperform” Rating for TD SYNNEX (NYSE:SNX)

TD SYNNEX (NYSE:SNX)‘s stock had its “outperform” rating reiterated by equities research analysts at Barrington Research in a note issued to investors on Friday,Benzinga reports. They presently have a $156.00 price target on the business services provider’s stock. Barrington Research’s price objective would indicate a potential upside of 49.35% from the company’s previous close.

Several other research firms have also weighed in on SNX. Royal Bank of Canada lifted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays upped their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. raised their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

TD SYNNEX Stock Down 2.9 %

NYSE:SNX opened at $104.45 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The company has a market capitalization of $8.81 billion, a PE ratio of 13.12, a P/E/G ratio of 1.06 and a beta of 1.51. The firm’s 50-day moving average price is $135.67 and its 200-day moving average price is $125.64. TD SYNNEX has a 1-year low of $98.00 and a 1-year high of $145.10.

TD SYNNEX (NYSE:SNX) last issued its earnings results 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 return on equity of 11.91% and a net margin of 1.18%. The business had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same period last year, the business posted $2.99 EPS. TD SYNNEX’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts predict that TD SYNNEX will post 11.88 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ann F. Vezina sold 839 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, the director now owns 4,856 shares in the company, valued at $660,804.48. This represents a 14.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,353,261 over the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in TD SYNNEX by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock worth $901,323,000 after purchasing an additional 29,659 shares in the last quarter. FMR LLC increased its holdings in shares of TD SYNNEX by 3.2% in the fourth quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock worth $898,738,000 after purchasing an additional 237,587 shares during the last quarter. Brave Warrior Advisors LLC lifted its position in shares of TD SYNNEX by 12.2% in the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock worth $486,380,000 after buying an additional 451,557 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in TD SYNNEX by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock valued at $391,188,000 after buying an additional 323,282 shares in the last quarter. Finally, Ninety One UK Ltd increased its stake in TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after acquiring an additional 1,016,251 shares during the last quarter. 84.00% of the stock is 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.