TD SYNNEX Co. (NYSE:SNX) Receives $134.75 Average Price Target from Brokerages

Shares of TD SYNNEX Co. (NYSE:SNX) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $134.75.

A number of equities research analysts have recently commented on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Barclays upped their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Friday, September 27th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Loop Capital reiterated a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th.

Insider Activity at TD SYNNEX

In other news, insider Simon Leung sold 6,249 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dennis Polk sold 15,689 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the transaction, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. This represents a 10.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,645 shares of company stock valued at $8,415,189. 1.90% of the stock is owned by company insiders.

Institutional Trading of TD SYNNEX

Institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in TD SYNNEX in the 3rd quarter valued at about $30,000. UMB Bank n.a. increased its position in shares of TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in TD SYNNEX during the third quarter worth $37,000. Blue Trust Inc. boosted its position in TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in TD SYNNEX in the 2nd quarter valued at $52,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Price Performance

SNX stock opened at $116.49 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. TD SYNNEX has a 52-week low of $98.70 and a 52-week high of $133.85. The company has a market capitalization of $9.91 billion, a P/E ratio of 15.07, a PEG ratio of 1.14 and a beta of 1.47. The company has a fifty day moving average price of $120.27 and a 200-day moving average price of $119.05.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The firm had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. During the same period in the previous year, the business earned $2.71 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts expect that TD SYNNEX will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio is currently 20.70%.

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.