TD SYNNEX's (SNX) "Outperform" Rating Reaffirmed at Barrington Research

TD SYNNEX (NYSE:SNX - Get Free Report)'s stock had its "outperform" rating reissued by equities researchers at Barrington Research in a report issued on Monday,Benzinga reports. They currently have a $156.00 price objective on the business services provider's stock. Barrington Research's price objective indicates a potential upside of 25.38% from the company's current price.

A number of other research firms have also weighed in on SNX. UBS Group cut their price objective on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. JPMorgan Chase & Co. dropped their price objective on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Cfra decreased their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Royal Bank Of Canada reduced their price objective on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $138.00.

TD SYNNEX Trading Down 0.2%

Shares of TD SYNNEX stock opened at $124.42 on Monday. TD SYNNEX has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The stock has a 50 day moving average of $118.23 and a 200 day moving average of $123.99. The firm has a market capitalization of $10.44 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.06 and a beta of 1.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 1.27.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The firm had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.54% and a net margin of 1.16%. TD SYNNEX's revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.99 EPS. 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 related news, insider Miriam Anne Murphy sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the sale, the insider now owns 14,883 shares of the company's stock, valued at approximately $1,637,130. This represents a 16.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 1,509 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the sale, the chief financial officer now owns 49,563 shares in the company, valued at $6,212,722.05. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On TD SYNNEX

A number of institutional investors have recently modified their holdings of SNX. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of TD SYNNEX by 329.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock worth $25,000 after purchasing an additional 188 shares during the period. Bessemer Group Inc. grew its holdings in 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 buying an additional 152 shares during the period. Versant Capital Management Inc lifted its holdings in shares of TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after acquiring an additional 183 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of TD SYNNEX in the first quarter worth approximately $44,000. Finally, Quarry LP purchased a new stake in TD SYNNEX in the first quarter valued at approximately $51,000. Institutional investors and hedge funds own 84.00% of the company's stock.

About TD SYNNEX

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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