Shares of SYNNEX Co. (NYSE:SNX) have received an average rating of “Buy” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $130.86.
A number of research firms have commented on SNX. Raymond James boosted their price target on shares of SYNNEX from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research note on Friday, June 26th. Zacks Investment Research raised SYNNEX from a “sell” rating to a “strong-buy” rating and set a $111.00 target price on the stock in a research note on Wednesday, May 27th. Citigroup raised their price target on SYNNEX from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, June 26th. TheStreet upgraded SYNNEX from a “c+” rating to a “b-” rating in a report on Monday, July 27th. Finally, Barrington Research raised their price objective on SYNNEX from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, June 26th.
NYSE:SNX opened at $124.74 on Tuesday. SYNNEX has a 52-week low of $52.06 and a 52-week high of $153.07. The stock has a fifty day moving average of $114.51 and a 200 day moving average of $109.58. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 1.52. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 9.86, a P/E/G ratio of 1.24 and a beta of 1.52.
SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, June 25th. The business services provider reported $1.83 earnings per share for the quarter, beating the consensus estimate of ($0.77) by $2.60. SYNNEX had a return on equity of 17.29% and a net margin of 2.03%. The firm had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter last year, the firm posted $2.86 EPS. The company’s revenue was down 3.3% compared to the same quarter last year. Equities analysts forecast that SYNNEX will post 10.75 earnings per share for the current fiscal year.
In other news, Director Kevin M. Murai sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $109.13, for a total transaction of $272,825.00. Following the completion of the sale, the director now owns 12,065 shares of the company’s stock, valued at $1,316,653.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Simon Leung sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $100.21, for a total transaction of $200,420.00. Following the completion of the transaction, the senior vice president now owns 16,381 shares in the company, valued at approximately $1,641,540.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,571 shares of company stock valued at $3,240,211. Company insiders own 2.80% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SNX. AQR Capital Management LLC increased its position in shares of SYNNEX by 192.8% in the first quarter. AQR Capital Management LLC now owns 1,222,493 shares of the business services provider’s stock valued at $89,364,000 after acquiring an additional 804,956 shares during the period. Norges Bank bought a new stake in shares of SYNNEX in the fourth quarter worth about $67,033,000. JPMorgan Chase & Co. increased its holdings in SYNNEX by 34.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,706,157 shares of the business services provider’s stock valued at $124,720,000 after purchasing an additional 433,776 shares during the period. Provident Investment Management Inc. bought a new position in SYNNEX during the 1st quarter valued at approximately $25,978,000. Finally, Frontier Capital Management Co. LLC raised its position in SYNNEX by 95.1% during the 1st quarter. Frontier Capital Management Co. LLC now owns 354,892 shares of the business services provider’s stock valued at $25,943,000 after purchasing an additional 173,015 shares during the last quarter. 74.91% of the stock is owned by institutional investors and hedge funds.
SYNNEX Company Profile
SYNNEX Corporation provides business process services in the Americas, Asia-Pacific, Europe and Africa. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center servers and storage solutions; system components; software; networking, communications, and security equipment; consumer electronics; and complementary products.
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