Ned Davis Research began coverage on shares of SYNNEX Corp. (NYSE:SNX) in a research note issued to investors on Monday, Stock Ratings Network.com reports. The firm issued a neutral rating on the stock.
SYNNEX Corp. (NYSE:SNX) traded down 1.16% during mid-day trading on Monday, hitting $58.87. 40,891 shares of the company’s stock traded hands. SYNNEX Corp. has a 52 week low of $30.70 and a 52 week high of $64.50. The stock has a 50-day moving average of $55.65 and a 200-day moving average of $44.99. The company has a market cap of $2.176 billion and a P/E ratio of 19.11.
SYNNEX Corp. (NYSE:SNX) last issued its quarterly earnings data on Wednesday, September 25th. The company reported $1.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.95 by $0.29. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts predict that SYNNEX Corp. will post $4.11 earnings per share for the current fiscal year.
A number of other firms have also recently commented on SNX. Analysts at Zacks upgraded shares of SYNNEX Corp. from a neutral rating to an outperform rating in a research note to investors on Monday, September 30th. They now have a $64.00 price target on the stock. Separately, analysts at Brean Capital raised their price target on shares of SYNNEX Corp. from $46.00 to $72.00 in a research note to investors on Friday, September 27th. They now have a buy rating on the stock. Finally, analysts at Bank of America Corp. initiated coverage on shares of SYNNEX Corp. in a research note to investors on Friday, September 13th. They set a buy rating and a $64.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $59.00.
In other SYNNEX Corp. news, Director Matthew Miau sold 13,622 shares of SYNNEX Corp. stock on the open market in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $62.08, for a total value of $845,653.76. The transaction was disclosed in a filing with the SEC, which is available at this link.
Synnex Corporation provides services to resellers, retailers and original equipment manufacturers (NYSE:SNX), in multiple regions around the world.
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