TD SYNNEX (NYSE:SNX) Receives Outperform Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a report released on Friday,Benzinga reports. They currently have a $156.00 price objective on the business services provider’s stock.

A number of other analysts also recently weighed in on the company. Royal Bank of Canada increased their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. raised their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and upped their target price for the company from $122.00 to $147.00 in a report on Friday, January 10th. Finally, Barclays increased their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $104.45 on Friday. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.06 and a beta of 1.51. 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 business’s 50-day moving average price is $135.67 and its 200-day moving average price is $125.75. TD SYNNEX has a 12 month low of $98.00 and a 12 month high of $145.10.

TD SYNNEX (NYSE:SNX) last posted 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 return on equity of 11.91% and a net margin of 1.18%. The business had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the prior year, the business earned $2.99 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts forecast that TD SYNNEX will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.68%. TD SYNNEX’s payout ratio is presently 22.11%.

Insider Activity

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the business’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 transaction of $114,171.12. Following the completion of the sale, the director now directly owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,172 shares of company stock worth $6,353,261. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

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