Barclays Issues Pessimistic Forecast for TD SYNNEX (NYSE:SNX) Stock Price

TD SYNNEX (NYSE:SNX) had its price objective lowered by investment analysts at Barclays from $148.00 to $125.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Barclays‘s price objective suggests a potential upside of 19.67% from the company’s current price.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their target price on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday. Barrington Research restated an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a research note on Friday. UBS Group reduced their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Royal Bank of Canada raised their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

TD SYNNEX Stock Down 2.9 %

Shares of SNX opened at $104.45 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The stock 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 company’s 50-day simple moving average is $135.67 and its 200-day simple moving average 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 released its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The business had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. TD SYNNEX’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.99 earnings per share. Analysts forecast 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 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 directly owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This trade represents a 14.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,172 shares of company stock valued at $6,353,261. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TD SYNNEX

Several institutional investors have recently added to or reduced their stakes in SNX. Wealth Enhancement Advisory Services LLC increased its holdings in shares of TD SYNNEX by 11.2% in the fourth 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 during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in TD SYNNEX in the 4th quarter valued at $6,167,000. Forum Financial Management LP increased its stake in TD SYNNEX by 10.0% in the 4th quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider’s stock valued at $295,000 after buying an additional 229 shares during the period. Vise Technologies Inc. purchased a new position in TD SYNNEX during the 4th quarter worth $276,000. Finally, CSS LLC IL lifted its stake in shares of 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 and hedge funds 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.