TD SYNNEX Co. (NYSE:SNX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

TD SYNNEX Co. (NYSE:SNX) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $139.00.

Several research analysts recently weighed in on SNX shares. Loop Capital restated a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and upped their target price for the stock from $122.00 to $147.00 in a research report on Friday. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research report on Tuesday, January 7th. Finally, Barrington Research restated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the transaction, the insider now directly owns 23,339 shares in the company, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,876 shares of company stock worth $8,196,529 in the last ninety days. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in TD SYNNEX in the third quarter worth $30,000. UMB Bank n.a. lifted its position in TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 144 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in TD SYNNEX during the third quarter worth about $37,000. Ashton Thomas Private Wealth LLC purchased a new stake in TD SYNNEX in the second quarter worth about $52,000. Finally, Point72 DIFC Ltd purchased a new position in shares of TD SYNNEX during the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $134.16 on Wednesday. The stock’s 50-day simple moving average is $120.14 and its two-hundred day simple moving average is $117.90. TD SYNNEX has a twelve month low of $98.70 and a twelve month high of $134.48. The firm has a market capitalization of $11.42 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.14 and a beta of 1.46. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

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.