Royal Bank of Canada Reiterates “Outperform” Rating for TD SYNNEX (NYSE:SNX)

TD SYNNEX (NYSE:SNX)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They currently have a $140.00 target price on the business services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 2.02% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Loop Capital reiterated a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. JPMorgan Chase & Co. increased their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday. Barclays boosted their price target on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Two 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, the company has an average rating of “Moderate Buy” and a consensus target price of $144.38.

TD SYNNEX Trading Up 0.7 %

Shares of SNX stock opened at $137.23 on Wednesday. TD SYNNEX has a 1-year low of $98.70 and a 1-year high of $138.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The business’s fifty day moving average price is $121.08 and its 200 day moving average price is $118.29. The firm has a market capitalization of $11.68 billion, a PE ratio of 17.24, a P/E/G ratio of 1.24 and a beta of 1.46.

Insider Activity

In related news, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the transaction, the chief financial officer now owns 48,362 shares of the company’s stock, valued at approximately $5,858,089.06. The trade was a 3.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares in the company, valued at $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 have sold 27,876 shares of company stock worth $3,319,329 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SNX. V Square Quantitative Management LLC purchased a new stake in shares of TD SYNNEX in the third quarter valued at $30,000. UMB Bank n.a. grew its holdings in TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after buying an additional 144 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in TD SYNNEX in the 3rd quarter valued at about $37,000. Point72 DIFC Ltd purchased a new position in shares of TD SYNNEX during the 3rd quarter worth about $55,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of TD SYNNEX in the third quarter worth approximately $58,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.