The Goldman Sachs Group Has Lowered Expectations for TD SYNNEX (NYSE:SNX) Stock Price

TD SYNNEX (NYSE:SNX) had its price objective lowered by stock analysts at The Goldman Sachs Group from $154.00 to $137.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 31.16% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. UBS Group reduced their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday. Barrington Research reissued an “outperform” rating and set a $156.00 price target on shares of TD SYNNEX in a research report on Friday. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price target for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. cut their price objective on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a report on Friday. Finally, Royal Bank of Canada boosted 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. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.00.

TD SYNNEX Stock Down 2.9 %

Shares of SNX stock opened at $104.45 on Friday. TD SYNNEX has a 12-month low of $98.00 and a 12-month high of $145.10. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average of $135.67 and a 200-day moving average of $125.64. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last released 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). The firm had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.99 EPS. As a group, equities research analysts predict that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

Insider Transactions at TD SYNNEX

In related news, CEO Patrick Zammit sold 6,823 shares of the company’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 sale, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. This represents a 3.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the firm’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 value of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,172 shares of company stock worth $6,353,261. Company insiders own 1.00% of the company’s stock.

Institutional Trading of TD SYNNEX

Hedge funds have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC boosted its stake in TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after purchasing an additional 152 shares in the last quarter. UMB Bank n.a. grew its stake in shares of TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after buying an additional 140 shares during the period. Point72 DIFC Ltd bought a new stake in TD SYNNEX in the 3rd quarter valued at about $55,000. Finally, Blue Trust Inc. raised its stake in TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after buying an additional 129 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.