TD SYNNEX (NYSE:SNX) Given New $250.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target on TD SYNNEX from $210 to $250 and kept an "outperform" rating, implying roughly a 10% upside from the prior close.
• TD SYNNEX posted a strong quarter with EPS of $4.73 (vs. $3.24 est.) and revenue of $17.16B (vs. $15.59B est.), a 18.1% year‑over‑year revenue increase.
• Analysts are broadly positive with a consensus rating of Moderate Buy and an average price target of $190.50, while the stock is trading near its 52‑week high and institutional ownership is about 84%.

TD SYNNEX (NYSE:SNX - Get Free Report) had its price target hoisted by stock analysts at Royal Bank Of Canada from $210.00 to $250.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the business services provider's stock. Royal Bank Of Canada's target price would suggest a potential upside of 10.04% from the company's previous close.

A number of other equities research analysts also recently weighed in on SNX. JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $185.00 to $220.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Barrington Research reiterated an "outperform" rating and set a $182.00 target price on shares of TD SYNNEX in a research report on Friday, March 27th. Morgan Stanley raised their price target on TD SYNNEX from $172.00 to $174.00 and gave the stock an "overweight" rating in a research report on Friday, March 20th. UBS Group boosted their target price on shares of TD SYNNEX from $187.00 to $193.00 and gave the company a "buy" rating in a research report on Friday, January 9th. Finally, The Goldman Sachs Group upped their price target on shares of TD SYNNEX from $180.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $190.50.

TD SYNNEX Stock Performance

NYSE:SNX traded up $3.15 during mid-day trading on Thursday, hitting $227.19. 151,774 shares of the stock were exchanged, compared to its average volume of 807,264. The firm's 50-day simple moving average is $178.83 and its 200 day simple moving average is $162.86. The stock has a market capitalization of $18.26 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 1.14 and a beta of 1.23. TD SYNNEX has a fifty-two week low of $111.02 and a fifty-two week high of $229.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, topping the consensus estimate of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The firm had revenue of $17.16 billion for the quarter, compared to analysts' expectations of $15.59 billion. During the same quarter last year, the business earned $2.80 EPS. The company's quarterly revenue was up 18.1% compared to the same quarter last year. As a group, equities analysts anticipate that TD SYNNEX will post 15.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 23,365 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $160.63, for a total value of $3,753,119.95. Following the completion of the transaction, the director directly owned 42,515 shares in the company, valued at approximately $6,829,184.45. This trade represents a 35.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Miriam Anne Murphy sold 3,025 shares of the company's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $200.14, for a total value of $605,423.50. Following the completion of the transaction, the insider directly owned 10,820 shares of the company's stock, valued at $2,165,514.80. This represents a 21.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 44,174 shares of company stock worth $7,459,641. Company insiders own 0.70% of the company's stock.

Institutional Trading of TD SYNNEX

Several institutional investors have recently modified their holdings of SNX. Dorato Capital Management bought a new position in TD SYNNEX during the 4th quarter worth $27,000. Ossiam lifted its stake in shares of TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider's stock worth $27,000 after acquiring an additional 75 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in TD SYNNEX in the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC acquired a new stake in TD SYNNEX during the 3rd quarter valued at approximately $30,000. Finally, Lloyd Advisory Services LLC. bought a new position in TD SYNNEX during the 4th quarter worth approximately $32,000. Institutional investors own 84.00% of the company's stock.

TD SYNNEX Company Profile

TD SYNNEX NYSE: SNX is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company's core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.

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