TD SYNNEX Co. (NYSE:SNX) Receives Average Rating of “Buy” from Brokerages

TD SYNNEX Co. (NYSE:SNXGet Rating) has earned a consensus rating of “Buy” from the nine ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $142.63.

A number of research analysts recently weighed in on the company. Raymond James upped their price target on TD SYNNEX from $170.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 25th. StockNews.com assumed coverage on TD SYNNEX in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research downgraded TD SYNNEX from a “buy” rating to a “hold” rating and set a $113.00 price target on the stock. in a research note on Tuesday, March 15th. Finally, Stifel Nicolaus raised TD SYNNEX from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Thursday, April 14th.

Shares of NYSE:SNX opened at $105.40 on Friday. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 0.91 and a beta of 1.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 0.73. The business’s 50-day moving average is $100.86 and its 200-day moving average is $105.43. TD SYNNEX has a 1 year low of $93.49 and a 1 year high of $130.93.

TD SYNNEX (NYSE:SNXGet Rating) last announced its quarterly earnings data on Thursday, March 24th. The business services provider reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.32. TD SYNNEX had a return on equity of 14.87% and a net margin of 1.04%. The company had revenue of $15.47 billion for the quarter, compared to the consensus estimate of $15.31 billion. During the same period in the previous year, the business earned $1.82 EPS. The firm’s revenue was up 213.2% compared to the same quarter last year. Analysts anticipate that TD SYNNEX will post 11 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Monday, April 18th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Thursday, April 14th. TD SYNNEX’s dividend payout ratio is currently 19.35%.

In other news, CFO Marshall Witt sold 909 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $100.30, for a total value of $91,172.70. Following the completion of the transaction, the chief financial officer now directly owns 45,887 shares of the company’s stock, valued at $4,602,466.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $105.44, for a total value of $1,054,400.00. Following the completion of the transaction, the chief executive officer now directly owns 147,747 shares of the company’s stock, valued at $15,578,443.68. The disclosure for this sale can be found here. Insiders have sold a total of 16,211 shares of company stock valued at $1,681,288 over the last three months. Corporate insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SNX. Amundi Pioneer Asset Management Inc. grew its holdings in TD SYNNEX by 6.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 48,980 shares of the business services provider’s stock valued at $4,672,000 after purchasing an additional 2,881 shares during the period. Morgan Stanley grew its holdings in TD SYNNEX by 125.3% during the second quarter. Morgan Stanley now owns 145,561 shares of the business services provider’s stock valued at $17,723,000 after purchasing an additional 80,957 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in TD SYNNEX by 2.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 4,269 shares of the business services provider’s stock valued at $444,000 after purchasing an additional 92 shares during the period. The Manufacturers Life Insurance Company grew its holdings in TD SYNNEX by 5.3% during the third quarter. The Manufacturers Life Insurance Company now owns 48,013 shares of the business services provider’s stock valued at $4,998,000 after purchasing an additional 2,422 shares during the period. Finally, Martingale Asset Management L P grew its holdings in TD SYNNEX by 36.8% during the third quarter. Martingale Asset Management L P now owns 22,380 shares of the business services provider’s stock valued at $2,330,000 after purchasing an additional 6,022 shares during the period. 85.54% of the stock is owned by institutional investors and hedge funds.

About TD SYNNEX (Get Rating)

TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products.

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Analyst Recommendations for TD SYNNEX (NYSE:SNX)

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