UBS Group Has Lowered Expectations for TD SYNNEX (NYSE:SNX) Stock Price

TD SYNNEX (NYSE:SNX) had its price objective reduced by equities research analysts at UBS Group from $150.00 to $138.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. UBS Group’s price objective indicates a potential upside of 26.72% from the company’s current price.

A number of other research analysts also recently commented on SNX. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. cut their target price on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday. Barrington Research reissued an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a research note on Friday. 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 note on Monday, January 13th. Finally, Royal Bank of Canada lifted their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.13.

TD SYNNEX Stock Performance

SNX opened at $108.91 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The firm has a market cap of $9.19 billion, a PE ratio of 13.68, a P/E/G ratio of 1.06 and a beta of 1.51. The business has a fifty day simple moving average of $136.32 and a 200-day simple moving average of $125.58. TD SYNNEX has a fifty-two week low of $98.00 and a fifty-two week high of $145.10.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS 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 for the quarter, compared to analysts’ expectations of $14.79 billion. During the same period in the prior year, the company posted $2.99 earnings per share. TD SYNNEX’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts predict that TD SYNNEX will post 11.88 EPS for the current fiscal year.

Insider Activity at TD SYNNEX

In related news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the transaction, the director now directly owns 4,856 shares of the company’s stock, valued at $660,804.48. This trade represents a 14.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction dated 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 directly owns 111,080 shares in the company, valued at $13,065,229.60. This represents 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 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of TD SYNNEX

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Proficio Capital Partners LLC acquired a new stake in TD SYNNEX in the 4th quarter valued at about $5,158,000. JPMorgan Chase & Co. lifted its position in TD SYNNEX by 37.0% during the 3rd 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 during the period. IFP Advisors Inc boosted its stake in shares of TD SYNNEX by 976.6% in the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 918 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of TD SYNNEX during the fourth quarter worth approximately $2,260,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in TD SYNNEX by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock valued at $59,512,000 after buying an additional 9,915 shares during the period. 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.