TD SYNNEX (NYSE:SNX) Stock Rating Lowered by StockNews.com

TD SYNNEX (NYSE:SNX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

A number of other equities analysts also recently commented on SNX. Barclays increased their price objective on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Barrington Research increased their price target on shares of TD SYNNEX from $138.00 to $156.00 and gave the stock an “outperform” rating in a research note on Thursday, March 20th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price objective for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Royal Bank of Canada upped their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their target price on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.75.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $126.58 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. TD SYNNEX has a one year low of $106.00 and a one year high of $145.10. The business’s 50-day moving average price is $137.13 and its two-hundred day moving average price is $125.70. The company has a market capitalization of $10.68 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

Insider Activity

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the sale, the chief financial officer now directly owns 49,843 shares in the company, valued at $6,383,891.44. This trade represents a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the transaction, the director now directly owns 4,856 shares of the company’s stock, valued at $660,804.48. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,172 shares of company stock valued at $6,353,261. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors have recently added to or reduced their stakes in SNX. Bartlett & CO. Wealth Management LLC lifted its position 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 during the period. Bessemer Group Inc. increased its position in shares of TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 152 shares during the period. UMB Bank n.a. raised its stake in shares of 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 purchasing an additional 140 shares in the last quarter. Point72 DIFC Ltd bought a new position in TD SYNNEX in the third quarter worth $55,000. Finally, Blue Trust Inc. boosted its stake in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after buying an additional 129 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

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.