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

TD SYNNEX (NYSE:SNX) had its price target reduced by equities research analysts at Cfra from $147.00 to $132.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Cfra’s price target would suggest a potential upside of 25.83% from the stock’s previous close.

Several other analysts also recently issued reports on the company. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday. Barrington Research reissued an “outperform” rating and issued a $156.00 price target on shares of TD SYNNEX in a report on Friday. UBS Group reduced their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday. The Goldman Sachs Group reduced their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research note on Friday. Finally, Barclays dropped their price target on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

TD SYNNEX Trading Down 2.5 %

SNX traded down $2.64 during midday trading on Friday, hitting $104.90. The company’s stock had a trading volume of 1,530,760 shares, compared to its average volume of 772,094. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The firm has a market cap of $8.85 billion, a P/E ratio of 13.21, a PEG ratio of 1.06 and a beta of 1.51. TD SYNNEX has a 52-week low of $98.00 and a 52-week high of $145.10. The firm has a 50-day moving average price of $136.32 and a two-hundred day moving average price of $125.58.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $14.79 billion. During the same quarter in the previous year, the business posted $2.99 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts anticipate that TD SYNNEX will post 11.88 earnings per share for the current year.

Insiders Place Their Bets

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now directly owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the transaction, the chief financial officer now directly owns 49,843 shares in the company, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,172 shares of company stock worth $6,353,261. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

A number of institutional investors have recently modified their holdings of SNX. Norges Bank bought a new position in TD SYNNEX in the 4th quarter worth approximately $121,199,000. Ninety One UK Ltd grew its position in shares of TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after buying an additional 1,016,251 shares during the period. Nuveen Asset Management LLC boosted its stake in TD SYNNEX by 343.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock valued at $141,913,000 after acquiring an additional 937,040 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after buying an additional 813,634 shares during the period. Finally, LSV Asset Management raised its position in shares of TD SYNNEX by 46.9% during the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider’s stock worth $201,235,000 after purchasing an additional 547,692 shares during the period. 84.00% of the stock is owned by 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.