Cfra Has Lowered Expectations for TD SYNNEX (NYSE:SNX) Stock Price

TD SYNNEX (NYSE:SNX) had its price objective reduced by investment analysts at Cfra from $147.00 to $132.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Cfra’s target price would indicate a potential upside of 26.37% from the stock’s current price.

Several other analysts also recently weighed in on the company. Royal Bank of Canada boosted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. The Goldman Sachs Group dropped their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. lowered their price target on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday. Barrington Research restated an “outperform” rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday. Finally, StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

TD SYNNEX Stock Down 2.9 %

SNX opened at $104.45 on Friday. The company has a 50 day moving average of $135.67 and a 200 day moving average of $125.64. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX has a 12 month low of $98.00 and a 12 month high of $145.10. The company has a market cap of $8.81 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $14.79 billion. During the same period in the prior year, the firm posted $2.99 EPS. TD SYNNEX’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts expect that TD SYNNEX will post 11.88 EPS for the current year.

Insider Activity

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the transaction, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was 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 $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. Insiders have sold 49,172 shares of company stock worth $6,353,261 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Proficio Capital Partners LLC purchased a new position in TD SYNNEX in the 4th quarter valued at approximately $5,158,000. JPMorgan Chase & Co. raised its position in TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after purchasing an additional 813,634 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of TD SYNNEX by 976.6% in the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock valued at $119,000 after buying an additional 918 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of TD SYNNEX during the fourth quarter worth approximately $2,260,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in TD SYNNEX by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock valued at $59,512,000 after acquiring an additional 9,915 shares in 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.