TD SYNNEX (NYSE:SNX) Price Target Cut to $132.00 by Analysts at Bank of America

TD SYNNEX (NYSE:SNX) had its price objective lowered by Bank of America from $135.00 to $132.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Bank of America‘s price objective would suggest a potential upside of 14.43% from the stock’s previous close.

Several other research firms have also commented on SNX. Cfra lifted their price target on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $135.00 price target on shares of TD SYNNEX in a research report on Wednesday. Barrington Research reiterated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Wednesday. Barclays lifted their price target on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. Finally, UBS Group boosted their target price on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.10.

TD SYNNEX Trading Down 0.2 %

Shares of SNX stock opened at $115.35 on Thursday. TD SYNNEX has a 12-month low of $89.73 and a 12-month high of $133.85. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average price is $124.72 and its 200-day moving average price is $112.61. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.12 and a beta of 1.55.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.71 by $0.12. The company had revenue of $13.98 billion during the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. Equities research analysts predict that TD SYNNEX will post 11.38 EPS for the current fiscal year.

Insider Activity

In other news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the sale, the chief executive officer now owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at $15,580,095.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,000 shares of company stock valued at $5,833,100. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

A number of large investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. increased its position in shares of TD SYNNEX by 121.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of TD SYNNEX during the first quarter worth $32,000. Pineridge Advisors LLC acquired a new position in shares of TD SYNNEX during the fourth quarter worth $33,000. Daiwa Securities Group Inc. acquired a new position in shares of TD SYNNEX during the first quarter worth $68,000. Finally, Gladius Capital Management LP increased its position in shares of TD SYNNEX by 50.8% during the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock worth $74,000 after purchasing an additional 250 shares in the last quarter. Institutional investors 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.