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

TD SYNNEX (NYSE:SNX - Get Free Report)'s stock had its "outperform" rating restated by analysts at Barrington Research in a research note issued on Friday,Benzinga reports. They presently have a $156.00 price objective on the business services provider's stock. Barrington Research's price objective indicates a potential upside of 9.92% from the stock's current price.

Several other analysts have also issued reports on the stock. Barclays set a $140.00 price target on shares of TD SYNNEX in a research report on Tuesday, June 24th. Loop Capital boosted their price target on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, June 30th. The Goldman Sachs Group dropped 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. Royal Bank Of Canada reissued an "outperform" rating and issued a $145.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 25th. Finally, Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $142.56.

TD SYNNEX Stock Up 0.1%

Shares of TD SYNNEX stock traded up $0.14 during trading on Friday, hitting $141.93. 809,229 shares of the stock traded hands, compared to its average volume of 734,446. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26. The stock has a market cap of $11.70 billion, a P/E ratio of 16.58, a PEG ratio of 1.17 and a beta of 1.30. The company has a fifty day moving average price of $127.26 and a two-hundred day moving average price of $125.80. TD SYNNEX has a twelve month low of $92.23 and a twelve month high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The business had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.73 EPS. Equities research analysts predict that TD SYNNEX will post 11.88 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Marshall Witt sold 1,509 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the transaction, the chief financial officer directly owned 49,563 shares in the company, valued at approximately $6,212,722.05. The trade was a 2.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard T. Hume sold 63,310 shares of the business's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the transaction, the director owned 67,515 shares of the company's stock, valued at approximately $9,197,568.45. This represents a 48.39% decrease in their position. 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.

Hedge Funds Weigh In On TD SYNNEX

Several institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of TD SYNNEX by 329.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock valued at $25,000 after purchasing an additional 188 shares in the last quarter. Bessemer Group Inc. raised its position in TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after buying an additional 152 shares during the last quarter. Versant Capital Management Inc lifted its stake in TD SYNNEX by 115.1% in the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after acquiring an additional 183 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in TD SYNNEX during the 1st quarter worth approximately $44,000. Finally, Quarry LP bought a new position in shares of TD SYNNEX during the 1st quarter worth approximately $51,000. 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.