TD SYNNEX Co. (NYSE:SNX) Receives Consensus Rating of “Buy” from Analysts

Shares of TD SYNNEX Co. (NYSE:SNXGet Rating) have received a consensus recommendation of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $141.57.

A number of analysts have weighed in on the company. Stifel Nicolaus upgraded TD SYNNEX from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a report on Thursday, April 14th. Barrington Research decreased their price objective on TD SYNNEX from $128.00 to $106.00 and set an “outperform” rating for the company in a report on Friday. Raymond James increased their price objective on TD SYNNEX from $170.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, March 25th. Citigroup decreased their price objective on TD SYNNEX from $165.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. Finally, StockNews.com started coverage on TD SYNNEX in a report on Thursday, March 31st. They set a “hold” rating for the company.

In other TD SYNNEX news, insider Dennis Polk sold 1,100 shares of the stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $98.39, for a total transaction of $108,229.00. Following the sale, the insider now directly owns 151,153 shares of the company’s stock, valued at approximately $14,871,943.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $105.44, for a total value of $1,054,400.00. Following the sale, the chief executive officer now directly owns 147,747 shares in the company, valued at $15,578,443.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,312 shares of company stock worth $2,731,952. 1.60% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC acquired a new stake in TD SYNNEX during the 4th quarter worth about $38,000. Prospera Financial Services Inc acquired a new stake in TD SYNNEX during the 1st quarter worth about $35,000. Covestor Ltd acquired a new stake in TD SYNNEX during the 4th quarter worth about $42,000. Meeder Asset Management Inc. grew its position in TD SYNNEX by 619.2% during the 1st quarter. Meeder Asset Management Inc. now owns 374 shares of the business services provider’s stock worth $39,000 after purchasing an additional 322 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in TD SYNNEX by 89.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 457 shares of the business services provider’s stock worth $52,000 after purchasing an additional 216 shares during the period. 85.54% of the stock is currently owned by institutional investors.

TD SYNNEX stock opened at $92.43 on Tuesday. The business has a fifty day moving average of $98.34 and a two-hundred day moving average of $103.37. The company has a quick ratio of 0.69, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The firm has a market cap of $8.88 billion, a P/E ratio of 15.48, a P/E/G ratio of 0.80 and a beta of 1.60. TD SYNNEX has a twelve month low of $88.61 and a twelve month high of $130.93.

TD SYNNEX (NYSE:SNXGet Rating) last posted its earnings results on Tuesday, June 28th. The business services provider reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.07. The company had revenue of $15.27 billion during the quarter, compared to analyst estimates of $15.25 billion. TD SYNNEX had a return on equity of 13.95% and a net margin of 0.96%. TD SYNNEX’s revenue was up 160.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 earnings per share. Equities analysts expect that TD SYNNEX will post 11.19 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Thursday, July 14th. TD SYNNEX’s payout ratio is 20.10%.

About TD SYNNEX (Get Rating)

TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products.

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Analyst Recommendations for TD SYNNEX (NYSE:SNX)

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