Loop Capital Issues Positive Forecast for TD SYNNEX (NYSE:SNX) Stock Price

TD SYNNEX (NYSE:SNX - Get Free Report) had its price target boosted by equities researchers at Loop Capital from $150.00 to $160.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the business services provider's stock. Loop Capital's price target suggests a potential upside of 14.11% from the stock's previous close.

A number of other research analysts have also weighed in on the company. UBS Group reduced their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a report on Friday, March 28th. Morgan Stanley set a $155.00 price objective on shares of TD SYNNEX and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Cfra lowered their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Wall Street Zen upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $145.00 price target on shares of TD SYNNEX in a report on Wednesday, June 25th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, TD SYNNEX currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.56.

TD SYNNEX Stock Performance

Shares of NYSE SNX traded up $0.93 during midday trading on Monday, hitting $140.21. The company's stock had a trading volume of 680,142 shares, compared to its average volume of 745,780. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.15 and a beta of 1.30. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $123.15 and a 200 day moving average price of $124.66. TD SYNNEX has a one year low of $92.23 and a one year high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. The business had revenue of $14.95 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.73 EPS. On average, research analysts forecast that TD SYNNEX will post 11.88 EPS for the current fiscal year.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the insider owned 14,883 shares in the company, valued at $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 63,310 shares of the firm's stock in a transaction dated 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 directly owned 67,515 shares in the company, valued at approximately $9,197,568.45. This represents a 48.39% decrease in their ownership of the stock. 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 90 days. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors have recently made changes to their positions in SNX. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in TD SYNNEX by 329.8% during 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 buying an additional 188 shares during the period. Bessemer Group Inc. lifted its stake in shares of 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 acquiring an additional 152 shares during the last quarter. Versant Capital Management Inc boosted its holdings in TD SYNNEX by 115.1% during 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 during the period. Cullen Frost Bankers Inc. bought a new position in TD SYNNEX during the 1st quarter worth approximately $44,000. Finally, Quarry LP purchased a new position in TD SYNNEX in the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

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.