TD SYNNEX (NYSE:SNX) Stock Rating Reaffirmed by Loop Capital

by · The Markets Daily

TD SYNNEX (NYSE:SNX – Get Free Report)‘s stock had its “buy” rating restated by equities research analysts at Loop Capital in a report released on Monday, Benzinga reports. They currently have a $150.00 price target on the business services provider’s stock. Loop Capital’s target price would indicate a potential upside of 24.63% from the stock’s current price.

SNX has been the subject of several other reports. Bank of America decreased their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a report on Monday, September 23rd. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. UBS Group upped their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.75.

Read Our Latest Research Report on SNX

TD SYNNEX Trading Up 1.2 %

Shares of NYSE SNX opened at $120.36 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The firm’s 50 day moving average price is $116.28 and its 200-day moving average price is $118.75. TD SYNNEX has a 52-week low of $89.73 and a 52-week high of $133.85. The company has a market cap of $10.29 billion, a PE ratio of 16.86, a P/E/G ratio of 1.18 and a beta of 1.48.

TD SYNNEX (NYSE:SNX – Get Free Report) last released its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. During the same period in the previous year, the company earned $2.71 earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities research analysts expect that TD SYNNEX will post 11.06 EPS for the current fiscal year.

Insider Transactions at TD SYNNEX

In other news, COO Patrick Zammit sold 3,513 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the sale, the chief operating officer now directly owns 140,205 shares of the company’s stock, valued at $15,882,422.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the transaction, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 11,441 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the transaction, the chief financial officer now owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,877 shares of company stock valued at $3,519,970 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

A number of hedge funds and other institutional investors have recently modified their holdings of SNX. Nordea Investment Management AB lifted its position in TD SYNNEX by 38.5% during the first quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock valued at $172,081,000 after purchasing an additional 421,908 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of TD SYNNEX by 63.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 164,999 shares of the business services provider’s stock worth $17,756,000 after acquiring an additional 64,024 shares during the last quarter. Hancock Whitney Corp lifted its holdings in shares of TD SYNNEX by 57.9% in the 2nd quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock worth $1,954,000 after acquiring an additional 6,207 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in TD SYNNEX in the 1st quarter worth about $57,981,000. Finally, Wedge Capital Management L L P NC increased its stake in TD SYNNEX by 20.3% in the 2nd quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock worth $3,594,000 after buying an additional 5,252 shares during the period. Institutional investors own 84.00% of the company’s stock.

About TD SYNNEX

(Get Free Report)

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.

Further Reading