StockNews.com Upgrades TD SYNNEX (NYSE:SNX) to “Buy”

by · The Markets Daily

TD SYNNEX (NYSE:SNX – Get Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other equities analysts have also recently weighed in on SNX. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Tuesday, January 7th. 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. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the company from $122.00 to $147.00 in a research note on Friday. Barrington Research reissued an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, Loop Capital restated a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

Get Our Latest Analysis on TD SYNNEX

TD SYNNEX Stock Up 2.4 %

NYSE SNX traded up $3.14 during trading hours on Tuesday, hitting $135.98. 891,890 shares of the company traded hands, compared to its average volume of 808,549. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 1.14 and a beta of 1.46. TD SYNNEX has a twelve month low of $98.70 and a twelve month high of $136.07. The business’s 50-day moving average is $120.48 and its 200-day moving average is $118.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25.

Insider Activity

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the transaction, the director now owns 171,080 shares in the company, valued at $20,652,777.60. This trade represents a 10.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction 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 sale, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,876 shares of company stock valued at $8,196,529. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

Several institutional investors and hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in TD SYNNEX in the 3rd quarter valued at about $30,000. UMB Bank n.a. increased its stake in TD SYNNEX by 99.3% in the third 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 last quarter. Kathleen S. Wright Associates Inc. bought a new position in TD SYNNEX in the third quarter valued at approximately $37,000. Point72 DIFC Ltd acquired a new position in TD SYNNEX during the third quarter valued at approximately $55,000. Finally, Capital Performance Advisors LLP bought a new stake in TD SYNNEX during the third quarter worth $58,000. Institutional investors own 84.00% of the company’s stock.

About TD SYNNEX

(Get Free Report)

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.

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