Barclays Lowers TD SYNNEX (NYSE:SNX) Price Target to $125.00

TD SYNNEX (NYSE:SNX) had its target price decreased by investment analysts at Barclays from $148.00 to $125.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Barclays‘s target price points to a potential upside of 19.63% from the stock’s previous close.

Several other brokerages also recently weighed in on SNX. JPMorgan Chase & Co. cut their price target on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a report on Friday. UBS Group dropped their target price on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday. Barrington Research reissued an “outperform” rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Royal Bank of Canada raised their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.25.

TD SYNNEX Price Performance

NYSE SNX traded down $3.05 during mid-day trading on Friday, hitting $104.49. The stock had a trading volume of 471,708 shares, compared to its average volume of 745,027. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.06 and a beta of 1.51. TD SYNNEX has a 52-week low of $98.00 and a 52-week high of $145.10. The company has a 50 day simple moving average of $136.32 and a 200 day simple moving average of $125.58. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last released its earnings results 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 firm had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $2.99 earnings per share. Equities analysts forecast that TD SYNNEX will post 11.88 EPS for the current fiscal year.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of TD SYNNEX 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 sale, the director now directly owns 4,856 shares in the company, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now owns 111,080 shares in the company, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,172 shares of company stock valued at $6,353,261. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Several large investors have recently added to or reduced their stakes in SNX. Bartlett & CO. Wealth Management LLC grew its position in shares of 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 buying an additional 176 shares during the last quarter. Bessemer Group Inc. boosted its stake in TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 152 shares during the period. UMB Bank n.a. grew its holdings in shares of TD SYNNEX by 48.4% during 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 during the last quarter. Point72 DIFC Ltd acquired a new position in TD SYNNEX during the 3rd quarter valued at approximately $55,000. Finally, Blue Trust Inc. grew its stake in TD SYNNEX by 37.7% during 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 currently owned by 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.