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

Shares of TD SYNNEX Co. (NYSE:SNX – Get Rating) have received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $113.91.

A number of research firms have recently weighed in on SNX. Raymond James dropped their target price on TD SYNNEX from $140.00 to $130.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 29th. TheStreet upgraded TD SYNNEX from a “c+” rating to a “b-” rating in a research report on Friday, April 14th. Bank of America dropped their price target on TD SYNNEX from $135.00 to $120.00 in a research note on Thursday, March 30th. Barclays lowered their target price on TD SYNNEX from $109.00 to $103.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 29th. Finally, Barrington Research lowered their target price on TD SYNNEX from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 3rd.

Insider Buying and Selling

In other TD SYNNEX news, insider Simon Leung sold 10,174 shares of the stock in a transaction on Friday, April 28th. The stock was sold at an average price of $88.47, for a total value of $900,093.78. Following the completion of the sale, the insider now owns 32,931 shares in the company, valued at approximately $2,913,405.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Dennis Polk sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $97.13, for a total transaction of $777,040.00. Following the completion of the transaction, the insider now owns 132,402 shares in the company, valued at $12,860,206.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Simon Leung sold 10,174 shares of the firm’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $88.47, for a total transaction of $900,093.78. Following the completion of the sale, the insider now directly owns 32,931 shares of the company’s stock, valued at approximately $2,913,405.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,998 shares of company stock valued at $3,439,588. 1.70% of the stock is owned by company insiders.

Institutional Trading of TD SYNNEX

Several institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its stake in TD SYNNEX by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the business services provider’s stock worth $1,070,000 after purchasing an additional 100 shares during the last quarter. State of Michigan Retirement System lifted its stake in TD SYNNEX by 0.9% in the fourth quarter. State of Michigan Retirement System now owns 10,721 shares of the business services provider’s stock worth $1,015,000 after purchasing an additional 100 shares during the last quarter. Assetmark Inc. lifted its stake in TD SYNNEX by 6.0% in the first quarter. Assetmark Inc. now owns 2,218 shares of the business services provider’s stock worth $215,000 after purchasing an additional 126 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of TD SYNNEX by 4.3% during the first quarter. Captrust Financial Advisors now owns 3,202 shares of the business services provider’s stock valued at $330,000 after acquiring an additional 133 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of TD SYNNEX by 0.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 18,687 shares of the business services provider’s stock valued at $1,702,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

TD SYNNEX Stock Up 2.1 %

SNX stock opened at $90.15 on Friday. The stock’s 50 day simple moving average is $90.95 and its 200 day simple moving average is $96.66. TD SYNNEX has a fifty-two week low of $78.86 and a fifty-two week high of $111.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market cap of $8.51 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 0.92 and a beta of 1.63.

TD SYNNEX (NYSE:SNX – Get Rating) last issued its quarterly earnings data on Tuesday, March 28th. The business services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.74 by $0.08. TD SYNNEX had a return on equity of 13.80% and a net margin of 1.11%. The firm had revenue of $15.13 billion during the quarter, compared to the consensus estimate of $15.74 billion. On average, research analysts expect that TD SYNNEX will post 10.96 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Friday, April 14th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, April 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.55%. TD SYNNEX’s dividend payout ratio is currently 19.55%.

About TD SYNNEX

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TD SYNNEX Corp. engages in the distribution and aggregation of solutions in the information technology ecosystem. It operates through the following geographical segments: Americas, Europe, and Asia-Pacific and Japan. The firm offers IT hardware, software, and systems including personal computing devices and peripherals, mobile phones and accessories, printers, server and datacenter infrastructure, hybrid cloud, security, networking, communications and storage solutions, and system components.