The Goldman Sachs Group Issues Pessimistic Forecast for TD SYNNEX (NYSE:SNX) Stock Price

TD SYNNEX (NYSE:SNX) had its price objective decreased by The Goldman Sachs Group from $154.00 to $137.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 30.82% from the company’s current price.

A number of other equities analysts have also recently issued reports on SNX. Barrington Research restated an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and upped their target price for the company from $122.00 to $147.00 in a report on Friday, January 10th. UBS Group decreased their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. reduced their price target on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada lifted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.67.

TD SYNNEX Price Performance

Shares of NYSE SNX traded down $2.81 during trading on Friday, hitting $104.73. 1,001,748 shares of the company were exchanged, compared to its average volume of 770,056. The firm’s fifty day moving average price is $136.32 and its 200 day moving average price is $125.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.06 and a beta of 1.51. TD SYNNEX has a 1 year low of $98.00 and a 1 year high of $145.10.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the previous year, the company posted $2.99 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

Insider Activity at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value 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. This represents a 15.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the sale, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,172 shares of company stock valued at $6,353,261. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC raised 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 valued at $27,000 after acquiring an additional 176 shares in the last quarter. Bessemer Group Inc. raised its stake 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 valued at $28,000 after purchasing an additional 152 shares in the last quarter. UMB Bank n.a. lifted its holdings in TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after purchasing an additional 140 shares during the period. Point72 DIFC Ltd bought a new position in TD SYNNEX in the 3rd quarter valued at about $55,000. Finally, Blue Trust Inc. raised its position in shares of 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 buying an additional 129 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.