TD SYNNEX (NYSE:SNX) Price Target Raised to $164.00

Key Points

• TD SYNNEX's price target has been raised by Barclays from $140.00 to $164.00, indicating a potential upside of 2.86% from the stock's previous close.
• Other analysts have set various price targets for TD SYNNEX, with JPMorgan Chase raising its target to $160.00 and Bank of America to $170.00, contributing to a consensus target price of $158.18.
• The company's stock has seen significant analyst interest, with the average rating currently listed as "Moderate Buy" based on several positive earnings reports and institutional investments.

TD SYNNEX (NYSE:SNX - Get Free Report) had its price objective lifted by analysts at Barclays from $140.00 to $164.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the business services provider's stock. Barclays's price target indicates a potential upside of 2.86% from the stock's previous close.

Several other analysts have also issued reports on SNX. JPMorgan Chase & Co. boosted their price target on shares of TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Bank of America boosted their target price on shares of TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Raymond James Financial set a $175.00 target price on TD SYNNEX in a research report on Thursday. Barrington Research reiterated an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research note on Tuesday. Finally, Loop Capital increased their price objective on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $158.18.

TD SYNNEX Stock Up 6.1%

Shares of NYSE SNX opened at $159.45 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. The stock has a market capitalization of $13.15 billion, a PE ratio of 18.63, a P/E/G ratio of 1.22 and a beta of 1.35. TD SYNNEX has a one year low of $92.23 and a one year high of $159.92. The business's fifty day moving average price is $147.97 and its 200-day moving average price is $130.47.

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

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 861 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $149.84, for a total transaction of $129,012.24. Following the sale, the chief financial officer owned 49,777 shares in the company, valued at $7,458,585.68. This trade represents a 1.70% 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, insider Alim Dhanji sold 1,257 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total value of $179,009.37. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,930 shares of company stock valued at $430,163 over the last 90 days. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds have recently made changes to their positions in the business. Nuveen LLC bought a new position in shares of TD SYNNEX during the 1st quarter valued at $121,259,000. Norges Bank bought a new stake in TD SYNNEX in the second quarter worth $124,618,000. Metropolis Capital Ltd purchased a new stake in TD SYNNEX during the second quarter valued at about $115,168,000. Vanguard Group Inc. grew its stake in shares of 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 valued at $1,119,340,000 after buying an additional 759,022 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of TD SYNNEX by 16.9% in the first quarter. JPMorgan Chase & Co. now owns 3,899,974 shares of the business services provider's stock worth $405,441,000 after buying an additional 564,473 shares during the period. 84.00% of the stock is currently owned by institutional investors.

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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