Barrington Research Issues Positive Forecast for TD SYNNEX (NYSE:SNX) Stock Price

Key Points

• Barrington Research has raised its price target for TD SYNNEX (NYSE:SNX) from $156.00 to $182.00, indicating a potential upside of 10.42% from the stock's previous close and maintaining an "outperform" rating.
• In addition to Barrington, several other analysts have also upgraded their ratings and price targets for TD SYNNEX, contributing to a consensus average target of $165.09.
• Insider transactions revealed a notable sale of shares by CFO Marshall Witt, indicating a 1.70% decrease in his ownership, while institutional investors hold approximately 84.00% of the company's stock.

TD SYNNEX (NYSE:SNX - Get Free Report) had its price objective upped by stock analysts at Barrington Research from $156.00 to $182.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the business services provider's stock. Barrington Research's price objective suggests a potential upside of 10.42% from the stock's previous close.

A number of other analysts have also issued reports on SNX. Royal Bank Of Canada boosted their target price on TD SYNNEX from $165.00 to $180.00 and gave the company an "outperform" rating in a research report on Friday. Loop Capital boosted their target price on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Barclays boosted their target price on TD SYNNEX from $140.00 to $164.00 and gave the company an "equal weight" rating in a research report on Friday. UBS Group reaffirmed a "buy" rating on shares of TD SYNNEX in a research report on Monday. Finally, Wall Street Zen raised TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, TD SYNNEX presently has an average rating of "Moderate Buy" and a consensus price target of $165.09.

TD SYNNEX Stock Up 0.2%

Shares of NYSE SNX opened at $164.83 on Monday. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.34 and a beta of 1.35. The company has a quick ratio of 0.71, a current ratio of 1.20 and a debt-to-equity ratio of 0.36. TD SYNNEX has a 52-week low of $92.23 and a 52-week high of $165.49. The business's 50 day moving average is $148.40 and its two-hundred day moving average is $130.79.

Insider Transactions at TD SYNNEX

In related news, insider Alim Dhanji sold 1,257 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total value of $179,009.37. Following the completion of the sale, the insider owned 10,984 shares in the company, valued at $1,564,231.44. This trade represents a 10.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Marshall Witt sold 861 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $149.84, for a total transaction of $129,012.24. Following the completion of the sale, the chief financial officer owned 49,777 shares of the company's stock, valued at approximately $7,458,585.68. The trade was a 1.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,930 shares of company stock worth $430,163. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On TD SYNNEX

A number of hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its stake in TD SYNNEX by 1.6% in the first quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider's stock valued at $630,000 after buying an additional 94 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of TD SYNNEX by 0.6% in the first quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider's stock worth $1,873,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of TD SYNNEX by 0.5% in the first quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the business services provider's stock worth $2,194,000 after purchasing an additional 100 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of TD SYNNEX by 3.1% in the second quarter. ProShare Advisors LLC now owns 3,311 shares of the business services provider's stock worth $449,000 after purchasing an additional 101 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of TD SYNNEX by 23.7% in the second quarter. Blue Trust Inc. now owns 543 shares of the business services provider's stock worth $74,000 after purchasing an additional 104 shares in the last quarter. 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.

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