Barrington Research Raises TD SYNNEX (NYSE:SNX) Price Target to $156.00

TD SYNNEX (NYSE:SNX) had its price target increased by research analysts at Barrington Research from $138.00 to $156.00 in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm presently has an “outperform” rating on the business services provider’s stock. Barrington Research’s price objective points to a potential upside of 22.10% from the company’s current price.

A number of other research analysts have also commented on SNX. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their price objective for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Barclays raised their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report 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, Royal Bank of Canada raised their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $149.75.

TD SYNNEX Price Performance

NYSE SNX opened at $127.77 on Thursday. TD SYNNEX has a 12 month low of $104.40 and a 12 month high of $145.10. 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 firm has a market capitalization of $10.78 billion, a PE ratio of 16.05, a P/E/G ratio of 1.06 and a beta of 1.51. The company’s 50 day simple moving average is $137.36 and its 200 day simple moving average is $125.34.

Insider Buying and Selling

In other news, CEO Patrick Zammit sold 6,823 shares of the firm’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 transaction, the chief executive officer now owns 165,604 shares in the company, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 49,172 shares of company stock valued at $6,353,261. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its holdings in shares of TD SYNNEX by 11.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,008 shares of the business services provider’s stock valued at $822,000 after purchasing an additional 708 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of TD SYNNEX during the 4th quarter valued at $6,167,000. Forum Financial Management LP raised its holdings in shares of TD SYNNEX by 10.0% during the 4th quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 229 shares in the last quarter. Vise Technologies Inc. bought a new position in TD SYNNEX in the 4th quarter worth $276,000. Finally, CSS LLC IL raised its holdings in TD SYNNEX by 11.7% in the 4th quarter. CSS LLC IL now owns 11,896 shares of the business services provider’s stock worth $1,395,000 after acquiring an additional 1,250 shares during the period. 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.