Barrington Research Increases TD SYNNEX (NYSE:SNX) Price Target to $156.00

TD SYNNEX (NYSE:SNX) had its target price hoisted by equities research analysts at Barrington Research from $138.00 to $156.00 in a note issued to investors on Thursday. The brokerage currently has an “outperform” rating on the business services provider’s stock. Barrington Research’s price target suggests a potential upside of 18.06% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Barclays boosted their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada boosted their price objective 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and a consensus target price of $149.75.

TD SYNNEX Trading Up 2.5 %

SNX opened at $132.13 on Thursday. TD SYNNEX has a 1-year low of $102.77 and a 1-year high of $145.10. The firm has a 50-day moving average price of $137.34 and a two-hundred day moving average price of $125.26. The stock has a market capitalization of $11.15 billion, a PE ratio of 16.60, a PEG ratio of 1.06 and a beta of 1.51. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

Insider Transactions at TD SYNNEX

In related news, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock valued at $6,353,261 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of hedge funds and other institutional investors have recently made changes to their positions in SNX. FMR LLC raised its holdings in shares of TD SYNNEX by 18.4% during the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after acquiring an additional 1,154,651 shares during the period. Norges Bank acquired a new stake in shares of TD SYNNEX during the fourth quarter worth $121,199,000. Ninety One UK Ltd raised its holdings in shares of TD SYNNEX by 75.4% during the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after acquiring an additional 1,016,251 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of TD SYNNEX by 343.2% during the fourth quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock worth $141,913,000 after acquiring an additional 937,040 shares during the period. Finally, JPMorgan Chase & Co. grew its position in TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after purchasing an additional 813,634 shares in the last quarter. 84.00% of the stock is currently 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.