JPMorgan Chase & Co. Forecasts Strong Price Appreciation for TD SYNNEX (NYSE:SNX) Stock

TD SYNNEX (NYSE:SNX) had its price objective upped by JPMorgan Chase & Co. from $135.00 to $150.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 10.31% from the stock’s previous close.

A number of other analysts have also recently commented on SNX. Barclays boosted their price target on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Loop Capital restated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Barrington Research reiterated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

TD SYNNEX Trading Up 2.4 %

Shares of NYSE SNX opened at $135.98 on Monday. TD SYNNEX has a 1 year low of $98.70 and a 1 year high of $136.07. 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 firm has a 50-day moving average of $120.48 and a 200 day moving average of $118.02. The stock has a market cap of $11.57 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46.

Insiders Place Their Bets

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now directly owns 23,339 shares in the company, valued at $2,874,664.63. The trade was a 21.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,876 shares of company stock valued at $5,782,129. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SNX. V Square Quantitative Management LLC purchased a new stake in shares of TD SYNNEX in the 3rd quarter worth $30,000. UMB Bank n.a. increased its position in TD SYNNEX by 99.3% in the third 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 in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of TD SYNNEX in the third quarter worth about $37,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of TD SYNNEX during the 2nd quarter valued at about $52,000. Finally, Point72 DIFC Ltd bought a new position in shares of TD SYNNEX during the 3rd quarter valued at approximately $55,000. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Company Profile

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.