TD SYNNEX (NYSE:SNX) Stock Rating Reaffirmed by Barrington Research

TD SYNNEX (NYSE:SNX)‘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.

TD SYNNEX Price Performance

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) 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.

Insider Activity

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.

Institutional Investors Weigh In On TD SYNNEX

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.

About TD SYNNEX

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.