Royal Bank of Canada Boosts TD SYNNEX (NYSE:SNX) Price Target to $135.00

TD SYNNEX (NYSE:SNXGet Free Report) had its price objective upped by investment analysts at Royal Bank of Canada from $118.00 to $135.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the business services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 4.82% from the company’s previous close.

A number of other research firms have also issued reports on SNX. Barclays upped their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. Cfra boosted their price target on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research report on Tuesday, March 26th. UBS Group raised shares of TD SYNNEX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $115.00 to $145.00 in a research report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price target on shares of TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Finally, Barrington Research boosted their price target on shares of TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.36.

Read Our Latest Analysis on SNX

TD SYNNEX Price Performance

NYSE SNX traded down $1.82 on Tuesday, hitting $128.79. The company had a trading volume of 156,949 shares, compared to its average volume of 870,036. The company has a market capitalization of $11.48 billion, a PE ratio of 18.70, a PEG ratio of 1.25 and a beta of 1.55. The company’s fifty day moving average price is $121.19 and its 200-day moving average price is $109.84. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75. TD SYNNEX has a 12-month low of $87.68 and a 12-month high of $132.06.

TD SYNNEX (NYSE:SNXGet Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.71 by $0.12. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The company had revenue of $13.98 billion during the quarter, compared to analyst estimates of $14.37 billion. As a group, analysts predict that TD SYNNEX will post 11.38 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now directly owns 219,363 shares in the company, valued at $25,400,041.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the transaction, the chief executive officer now owns 219,363 shares in the company, valued at $25,400,041.77. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Several large investors have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of TD SYNNEX by 121.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. Rise Advisors LLC acquired a new stake in shares of TD SYNNEX during the first quarter worth $32,000. Pineridge Advisors LLC acquired a new stake in shares of TD SYNNEX during the fourth quarter worth $33,000. Daiwa Securities Group Inc. acquired a new stake in shares of TD SYNNEX during the first quarter worth $68,000. Finally, Gladius Capital Management LP lifted its holdings in shares of TD SYNNEX by 50.8% during the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock worth $74,000 after purchasing an additional 250 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Company Profile

(Get Free Report)

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.

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