SYNNEX (NYSE:SNX) had its target price lifted by research analysts at Raymond James from $80.00 to $100.00 in a research report issued on Tuesday, AR Network reports. The brokerage presently has a “strong-buy” rating on the business services provider’s stock. Raymond James’ price target would suggest a potential upside of 16.71% from the company’s previous close.
SNX has been the topic of a number of other reports. Smith Barney Citigroup restated a “buy” rating on shares of SYNNEX in a report on Tuesday, January 5th. BidaskClub upgraded shares of SYNNEX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 7th. Loop Capital lifted their target price on shares of SYNNEX from $140.00 to $170.00 in a research note on Wednesday, September 30th. Citigroup lifted their target price on shares of SYNNEX from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, September 30th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of SYNNEX from a “sell” rating to a “hold” rating in a research note on Tuesday, January 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $112.56.
NYSE:SNX opened at $85.68 on Tuesday. SYNNEX has a fifty-two week low of $21.25 and a fifty-two week high of $91.40. The stock has a market capitalization of $4.42 billion, a P/E ratio of 9.05, a P/E/G ratio of 1.30 and a beta of 1.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.52. The company’s 50-day simple moving average is $91.79 and its 200-day simple moving average is $122.93.
SYNNEX (NYSE:SNX) last released its quarterly earnings results on Sunday, January 10th. The business services provider reported $5.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.83 by $1.38. SYNNEX had a net margin of 2.06% and a return on equity of 16.78%. The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same period last year, the business earned $4.26 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. On average, research analysts forecast that SYNNEX will post 12.25 EPS for the current year.
In other SYNNEX news, Director Kevin M. Murai sold 4,600 shares of the firm’s stock in a transaction that occurred on Friday, November 13th. The shares were sold at an average price of $148.96, for a total transaction of $685,216.00. Following the completion of the transaction, the director now directly owns 10,114 shares of the company’s stock, valued at approximately $1,506,581.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin M. Murai sold 2,213 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $133.12, for a total transaction of $294,594.56. Following the transaction, the director now directly owns 7,739 shares of the company’s stock, valued at $1,030,215.68. The disclosure for this sale can be found here. Insiders have sold a total of 18,553 shares of company stock valued at $2,686,807 over the last three months. 2.80% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. FMR LLC increased its holdings in shares of SYNNEX by 9.9% during the 2nd quarter. FMR LLC now owns 6,346,619 shares of the business services provider’s stock valued at $760,135,000 after purchasing an additional 572,573 shares in the last quarter. Abrams Bison Investments LLC increased its holdings in shares of SYNNEX by 81.3% during the 3rd quarter. Abrams Bison Investments LLC now owns 1,267,508 shares of the business services provider’s stock valued at $177,527,000 after purchasing an additional 568,508 shares in the last quarter. Boston Partners increased its holdings in shares of SYNNEX by 7.7% during the 3rd quarter. Boston Partners now owns 1,173,386 shares of the business services provider’s stock valued at $164,344,000 after purchasing an additional 83,719 shares in the last quarter. Ninety One UK Ltd purchased a new position in shares of SYNNEX during the 3rd quarter valued at approximately $126,413,000. Finally, LSV Asset Management increased its holdings in shares of SYNNEX by 6.4% during the 3rd quarter. LSV Asset Management now owns 669,264 shares of the business services provider’s stock valued at $93,737,000 after purchasing an additional 40,303 shares in the last quarter. 75.60% of the stock is owned by hedge funds and other institutional investors.
SYNNEX Corporation provides business process services in the United States and internationally. 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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