JPMorgan Chase & Co. Lowers TD SYNNEX (NYSE:SNX) Price Target to $125.00

TD SYNNEX (NYSE:SNX) had its target price cut by analysts at JPMorgan Chase & Co. from $150.00 to $125.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 19.67% from the company’s current price.

A number of other equities research analysts have also weighed in on SNX. Barclays raised their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Royal Bank of Canada boosted their price target on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Barrington Research restated an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a research note on Friday. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and increased their target price for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

TD SYNNEX Stock Performance

Shares of NYSE:SNX opened at $104.45 on Friday. The firm 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. TD SYNNEX has a 12 month low of $98.00 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 business has a 50-day moving average of $135.67 and a two-hundred day moving average of $125.64.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (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 company had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the prior year, the company posted $2.99 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current year.

Insider Buying and Selling at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the transaction, the chief executive officer now owns 165,604 shares of the company’s stock, valued at approximately $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 sold a total of 49,172 shares of company stock worth $6,353,261 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of TD SYNNEX by 11.2% during 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in TD SYNNEX during the 4th quarter valued at about $6,167,000. Forum Financial Management LP raised its position 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 worth $295,000 after buying an additional 229 shares in the last quarter. Vise Technologies Inc. acquired a new stake in shares of TD SYNNEX in the 4th quarter worth approximately $276,000. Finally, CSS LLC IL boosted its holdings in shares of TD SYNNEX by 11.7% in the fourth quarter. CSS LLC IL now owns 11,896 shares of the business services provider’s stock valued at $1,395,000 after acquiring an additional 1,250 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.