Barrington Research Reaffirms "Outperform" Rating for TD SYNNEX (NYSE:SNX)

TD SYNNEX (NYSE:SNX - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Barrington Research in a report released on Friday,Benzinga reports. They currently have a $156.00 price objective on the business services provider's stock. Barrington Research's price objective suggests a potential upside of 9.53% from the company's current price.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group decreased their price target on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. decreased their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. UBS Group cut their price target on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $145.00 target price on shares of TD SYNNEX in a report on Wednesday, June 25th. Finally, Barclays set a $140.00 price objective on TD SYNNEX in a report on Tuesday, June 24th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $142.56.

TD SYNNEX Stock Up 0.7%

Shares of NYSE:SNX opened at $142.43 on Friday. The firm's 50 day moving average price is $126.71 and its 200 day moving average price is $125.56. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 1.17 and a beta of 1.30. TD SYNNEX has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.28. The business had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $2.73 earnings per share. As a group, equities research analysts predict that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 63,310 shares of TD SYNNEX stock in a transaction on Friday, June 27th. The stock was sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the completion of the sale, the director directly owned 67,515 shares of the company's stock, valued at $9,197,568.45. The trade was a 48.39% 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 1,509 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the transaction, the chief financial officer directly owned 49,563 shares of the company's stock, valued at approximately $6,212,722.05. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,819 shares of company stock valued at $9,143,874 over the last three months. Company insiders own 1.00% of the company's stock.

Institutional Trading of TD SYNNEX

A number of institutional investors have recently modified their holdings of SNX. Delphi Management Inc. MA raised its holdings in TD SYNNEX by 1.7% during the second quarter. Delphi Management Inc. MA now owns 10,812 shares of the business services provider's stock worth $1,467,000 after acquiring an additional 183 shares in the last quarter. Voya Investment Management LLC raised its stake in TD SYNNEX by 27.4% in the first quarter. Voya Investment Management LLC now owns 33,490 shares of the business services provider's stock valued at $3,482,000 after buying an additional 7,212 shares during the period. Strs Ohio bought a new stake in TD SYNNEX in the first quarter valued at approximately $1,913,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in TD SYNNEX by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider's stock valued at $21,226,000 after buying an additional 12,615 shares during the period. Finally, Empowered Funds LLC raised its stake in TD SYNNEX by 4.8% in the first quarter. Empowered Funds LLC now owns 69,497 shares of the business services provider's stock valued at $7,225,000 after buying an additional 3,156 shares during the period. 84.00% of the stock is currently owned by 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.

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