JPMorgan Chase & Co. Lowers TD SYNNEX (NYSE:SNX) Price Target to $125.00

TD SYNNEX (NYSE:SNX) had its price objective dropped by analysts at JPMorgan Chase & Co. from $150.00 to $125.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.91% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays increased their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Barrington Research reissued an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a research note on Friday. Royal Bank of Canada raised their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Finally, Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.63.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $107.85 on Friday. The stock has a market capitalization of $9.10 billion, a P/E ratio of 13.55, a PEG ratio of 1.06 and a beta of 1.51. The business has a 50 day simple moving average of $136.32 and a two-hundred day simple moving average of $125.58. TD SYNNEX has a 12 month low of $98.00 and a 12 month high of $145.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $14.79 billion. During the same quarter in the previous year, the business posted $2.99 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts predict that TD SYNNEX will post 11.88 EPS for the current fiscal year.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,172 shares of company stock valued at $6,353,261 over the last 90 days. 1.00% of the stock is owned by insiders.

Institutional Trading of TD SYNNEX

Hedge funds have recently made changes to their positions in the business. Bartlett & CO. Wealth Management LLC increased its stake in TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the period. Bessemer Group Inc. increased its position in shares of TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after acquiring an additional 152 shares during the period. UMB Bank n.a. raised its stake in shares of TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 140 shares in the last quarter. Point72 DIFC Ltd purchased a new position in TD SYNNEX in the third quarter valued at $55,000. Finally, Blue Trust Inc. grew its stake in TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after purchasing an additional 129 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Company Profile

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.