UBS Group Cuts TD SYNNEX (NYSE:SNX) Price Target to $138.00

TD SYNNEX (NYSE:SNX) had its price target cut by equities research analysts at UBS Group from $150.00 to $138.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. UBS Group’s target price would suggest a potential upside of 26.72% from the stock’s previous close.

Several other research firms also recently commented on SNX. Barrington Research reiterated an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a report on Friday. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a report on Friday. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Finally, Royal Bank of Canada lifted their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average target price of $145.13.

TD SYNNEX Stock Up 1.3 %

Shares of TD SYNNEX stock opened at $108.91 on Friday. TD SYNNEX has a 52-week low of $98.00 and a 52-week high of $145.10. The business’s 50 day simple moving average is $136.32 and its 200 day simple moving average is $125.58. The firm has a market cap of $9.19 billion, a PE ratio of 13.68, a P/E/G ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

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

Insider Transactions at TD SYNNEX

In other news, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares of the company’s stock, valued at $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the business’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 sale, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,172 shares of company stock worth $6,353,261. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of TD SYNNEX

Several institutional investors have recently modified their holdings of the business. Bartlett & CO. Wealth Management LLC increased its position in TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the period. Bessemer Group Inc. boosted its position in shares of TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after purchasing an additional 152 shares in the last quarter. UMB Bank n.a. grew its stake in TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 140 shares during the period. Point72 DIFC Ltd bought a new position in TD SYNNEX during the 3rd quarter valued at $55,000. Finally, Blue Trust Inc. raised its holdings in shares of TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 129 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

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.