TD SYNNEX (NYSE:SNX) Earns "Outperform" Rating from Barrington Research

Key Points

• TD SYNNEX's stock received an "outperform" rating from Barrington Research, with a price target of $156.00, indicating a potential upside of 3.10% from its current price.
• The company reported $2.99 earnings per share for the latest quarter, surpassing the consensus estimate of $2.71, with revenues up 7.2% year-over-year.
• Institutional investors own 84.00% of TD SYNNEX stock, with significant recent acquisitions from major firms like Nuveen LLC and Vanguard Group Inc.

TD SYNNEX (NYSE:SNX - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at Barrington Research in a report issued on Tuesday,Benzinga reports. They currently have a $156.00 price target on the business services provider's stock. Barrington Research's target price indicates a potential upside of 3.10% from the company's current price.

SNX has been the topic of several other reports. Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Bank of America upped their price objective on TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley increased their price target on TD SYNNEX from $155.00 to $173.00 and gave the stock an "overweight" rating in a research report on Thursday. Royal Bank Of Canada increased their price target on TD SYNNEX from $145.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday, August 22nd. Finally, JPMorgan Chase & Co. increased their price target on TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, TD SYNNEX has a consensus rating of "Moderate Buy" and an average price target of $153.10.

TD SYNNEX Trading Up 0.9%

Shares of SNX opened at $151.31 on Tuesday. TD SYNNEX has a 12-month low of $92.23 and a 12-month high of $154.44. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $12.48 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.22 and a beta of 1.35. The stock's 50-day moving average price is $147.23 and its 200 day moving average price is $129.95.

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

Insider Buying and Selling

In other news, insider Alim Dhanji sold 1,257 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total value of $179,009.37. Following the completion of the transaction, the insider owned 10,984 shares in the company, valued at $1,564,231.44. This trade represents a 10.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 $7,458,585.68. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,240 shares of company stock worth $9,054,884 over the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

Several hedge funds have recently bought and sold shares of SNX. Nuveen LLC acquired a new stake in TD SYNNEX during the first quarter worth approximately $121,259,000. Norges Bank acquired a new stake in TD SYNNEX during the second quarter worth approximately $124,618,000. Metropolis Capital Ltd acquired a new stake in TD SYNNEX during the second quarter worth approximately $115,168,000. Vanguard Group Inc. lifted its position in TD SYNNEX by 10.1% during the second quarter. Vanguard Group Inc. now owns 8,248,639 shares of the business services provider's stock worth $1,119,340,000 after acquiring an additional 759,022 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in TD SYNNEX by 16.9% during the first quarter. JPMorgan Chase & Co. now owns 3,899,974 shares of the business services provider's stock worth $405,441,000 after acquiring an additional 564,473 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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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