SYNNEX (NYSE:SNX) had its target price boosted by Raymond James from $150.00 to $170.00 in a research report report published on Wednesday morning, Analyst Ratings Network reports. Raymond James currently has a strong-buy rating on the business services provider’s stock.
Several other equities analysts have also recently commented on SNX. Loop Capital lifted their target price on shares of SYNNEX from $150.00 to $165.00 and gave the stock a buy rating in a research report on Tuesday, October 5th. Northcoast Research began coverage on SYNNEX in a research note on Thursday, December 16th. They issued a buy rating and a $136.00 price objective on the stock. Barrington Research decreased their target price on SYNNEX from $140.00 to $128.00 and set an outperform rating for the company in a research report on Thursday, September 30th. Finally, Zacks Investment Research cut SYNNEX from a buy rating to a hold rating and set a $114.00 price target on the stock. in a research report on Tuesday, November 30th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Buy and an average price target of $145.88.
SYNNEX stock opened at $106.82 on Wednesday. SYNNEX has a 52 week low of $80.36 and a 52 week high of $130.93. The company’s 50 day moving average price is $110.67 and its two-hundred day moving average price is $114.20. The company has a quick ratio of 1.68, a current ratio of 1.25 and a debt-to-equity ratio of 0.50. The stock has a market cap of $10.26 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.04 and a beta of 1.71.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 28th. Stockholders of record on Friday, January 21st will be issued a $0.30 dividend. This is a positive change from SYNNEX’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, January 20th. SYNNEX’s dividend payout ratio (DPR) is presently 12.27%.
In other news, Director Ann F. Vezina sold 1,055 shares of the company’s stock in a transaction on Friday, October 29th. The shares were sold at an average price of $104.89, for a total value of $110,658.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dennis Polk sold 1,300 shares of SYNNEX stock in a transaction on Monday, November 1st. The shares were sold at an average price of $106.82, for a total value of $138,866.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,655 shares of company stock worth $385,089. 3.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Eagle Asset Management Inc. lifted its position in SYNNEX by 83.6% during the second quarter. Eagle Asset Management Inc. now owns 35,272 shares of the business services provider’s stock valued at $4,294,000 after purchasing an additional 16,059 shares during the last quarter. Mackenzie Financial Corp grew its position in SYNNEX by 10.5% in the second quarter. Mackenzie Financial Corp now owns 109,693 shares of the business services provider’s stock worth $13,356,000 after acquiring an additional 10,400 shares in the last quarter. Community Capital Management LLC increased its stake in SYNNEX by 27.6% in the third quarter. Community Capital Management LLC now owns 9,700 shares of the business services provider’s stock valued at $1,010,000 after acquiring an additional 2,100 shares during the last quarter. Putnam Investments LLC bought a new stake in SYNNEX during the second quarter worth about $334,000. Finally, Denali Advisors LLC boosted its holdings in shares of SYNNEX by 875.5% in the 3rd quarter. Denali Advisors LLC now owns 1,951 shares of the business services provider’s stock worth $203,000 after purchasing an additional 1,751 shares in the last quarter. 86.13% of the stock is owned by institutional investors.
SYNNEX Company Profile
TD SYNNEX Corp. engages in the provision of distribution, logistics and integration services for the technology industry. It operates through the following segments: Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals, IT systems including data center server and storage solutions, system components, software, networking equipment, consumer electronics, and complementary products.
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