TD SYNNEX (NYSE:SNX) Price Target Raised to $148.00

TD SYNNEX (NYSE:SNX) had its price target raised by stock analysts at Barclays from $132.00 to $148.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Barclays‘s price objective indicates a potential upside of 10.32% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Loop Capital reissued a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research report on Tuesday, January 7th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the stock from $122.00 to $147.00 in a report on Friday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus target price of $141.00.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $134.16 on Monday. TD SYNNEX has a fifty-two week low of $98.70 and a fifty-two week high of $134.48. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.14 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The business has a 50-day moving average of $120.14 and a 200-day moving average of $117.90.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now owns 111,080 shares in the company, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the sale, the chief financial officer now directly owns 48,362 shares in the company, valued at approximately $5,858,089.06. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,876 shares of company stock worth $8,196,529. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On TD SYNNEX

Large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of TD SYNNEX during the 3rd quarter worth $30,000. UMB Bank n.a. grew its stake in TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after buying an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in TD SYNNEX in the 3rd quarter worth approximately $37,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of TD SYNNEX during the second quarter worth $52,000. Finally, Point72 DIFC Ltd purchased a new stake in TD SYNNEX during the 3rd quarter valued at about $55,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.