Barclays Has Lowered Expectations for TD SYNNEX (NYSE:SNX) Stock Price

TD SYNNEX (NYSE:SNX) had its price objective lowered by analysts at Barclays from $148.00 to $125.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Barclays‘s target price suggests a potential upside of 19.67% from the stock’s previous close.

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

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $104.45 on Friday. The company’s fifty day moving average is $135.67 and its two-hundred day moving average is $125.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The firm has a market capitalization of $8.81 billion, a P/E ratio of 13.12, a PEG ratio of 1.06 and a beta of 1.51. TD SYNNEX has a one year low of $98.00 and a one year high of $145.10.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share 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 company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the previous year, the company posted $2.99 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts forecast that TD SYNNEX will post 11.88 EPS for the current fiscal year.

Insider Buying and Selling at TD SYNNEX

In related news, CEO Patrick Zammit sold 6,823 shares of the business’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 sale, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the company’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 transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 49,172 shares of company stock worth $6,353,261. Insiders own 1.00% of the company’s stock.

Institutional Trading of TD SYNNEX

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in TD SYNNEX by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock valued at $901,323,000 after acquiring an additional 29,659 shares during the last quarter. FMR LLC lifted its stake in shares of TD SYNNEX by 3.2% in the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock valued at $898,738,000 after purchasing an additional 237,587 shares in the last quarter. Brave Warrior Advisors LLC grew its holdings in shares of TD SYNNEX by 12.2% during the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock worth $486,380,000 after purchasing an additional 451,557 shares during the period. JPMorgan Chase & Co. increased its position in TD SYNNEX by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock worth $391,188,000 after purchasing an additional 323,282 shares in the last quarter. Finally, Ninety One UK Ltd raised its holdings in TD SYNNEX by 75.4% in the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after buying an additional 1,016,251 shares during the period. 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.