TD SYNNEX (NYSE:SNX - Get Free Report) had its price target increased by analysts at JPMorgan Chase & Co. from $143.00 to $160.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the business services provider's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 12.05% from the stock's current price.
Other equities analysts also recently issued research reports about the stock. Barclays set a $140.00 price target on shares of TD SYNNEX in a research note on Tuesday, June 24th. Morgan Stanley set a $155.00 price target on shares of TD SYNNEX and gave the company an "overweight" rating in a research report on Wednesday, June 25th. The Goldman Sachs Group reduced their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Barrington Research reaffirmed an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a report on Friday, July 11th. Finally, Cfra cut their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, TD SYNNEX has a consensus rating of "Moderate Buy" and an average price target of $147.00.
Check Out Our Latest Report on SNX
TD SYNNEX Price Performance
Shares of SNX stock traded up $1.57 during mid-day trading on Thursday, hitting $142.79. 140,113 shares of the stock were exchanged, compared to its average volume of 729,295. The company has a market cap of $11.78 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30. TD SYNNEX has a 52-week low of $92.23 and a 52-week high of $145.10. The firm has a fifty day moving average of $128.85 and a 200 day moving average of $126.18. 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 released its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share 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 business's revenue was up 7.2% on a year-over-year basis. During the same period last year, the company posted $2.73 EPS. Research analysts anticipate that TD SYNNEX will post 11.88 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Richard T. Hume sold 63,310 shares of the firm's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $136.23, for a total value 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 trade represents a 48.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Miriam Anne Murphy sold 3,000 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the transaction, the insider directly owned 14,883 shares in the company, valued at approximately $1,637,130. This represents a 16.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,819 shares of company stock valued at $9,143,874 over the last quarter. Company insiders own 1.00% of the company's stock.
Hedge Funds Weigh In On TD SYNNEX
A number of hedge funds have recently made changes to their positions in SNX. Barclays PLC grew its holdings in TD SYNNEX by 20.1% during the 4th quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock valued at $11,448,000 after purchasing an additional 16,310 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in TD SYNNEX by 3.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,252 shares of the business services provider's stock valued at $754,000 after purchasing an additional 244 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in TD SYNNEX by 11.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,361 shares of the business services provider's stock valued at $765,000 after purchasing an additional 785 shares in the last quarter. Sei Investments Co. grew its holdings in TD SYNNEX by 25.5% during the 4th quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock valued at $8,297,000 after purchasing an additional 14,379 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in TD SYNNEX by 95.8% during the 1st quarter. UMB Bank n.a. now owns 840 shares of the business services provider's stock valued at $87,000 after purchasing an additional 411 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.
TD SYNNEX Company Profile
(
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.
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