Loop Capital Boosts SYNNEX (NYSE:SNX) Price Target to $175.00

SYNNEX (NYSE:SNX) had its price objective lifted by Loop Capital from $165.00 to $175.00 in a report published on Wednesday morning, The Fly reports.

A number of other research firms have also commented on SNX. Raymond James increased their price objective on SYNNEX from $150.00 to $170.00 and gave the company a strong-buy rating in a research note on Wednesday. Zacks Investment Research lowered shares of SYNNEX from a buy rating to a hold rating and set a $114.00 target price on the stock. in a research report on Tuesday, November 30th. Northcoast Research started coverage on SYNNEX in a research note on Thursday, December 16th. They set a buy rating and a $136.00 price target on the stock. Barrington Research decreased their price objective on SYNNEX from $140.00 to $128.00 and set an outperform rating on the stock in a report on Thursday, September 30th. Finally, Cross Research upgraded SYNNEX from a hold rating to a buy rating and set a $124.00 target price on the stock in a research report on Wednesday. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, SYNNEX has an average rating of Buy and a consensus price target of $145.88.

Shares of NYSE SNX opened at $106.82 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.68 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $110.67 and its 200 day moving average price is $114.20. SYNNEX has a 52 week low of $80.36 and a 52 week high of $130.93. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.04 and a beta of 1.71.

SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, January 11th. The business services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.68 by $0.18. SYNNEX had a net margin of 1.25% and a return on equity of 15.61%. The business had revenue of $15.61 billion for the quarter, compared to analyst estimates of $15.52 billion. During the same period in the prior year, the business earned $5.21 earnings per share. The company’s quarterly revenue was up 110.6% on a year-over-year basis. As a group, research analysts expect that SYNNEX will post 10.1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 28th. Investors of record on Friday, January 21st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, January 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. This is a boost from SYNNEX’s previous quarterly dividend of $0.20. SYNNEX’s dividend payout ratio (DPR) is presently 12.27%.

In other news, Director Ann F. Vezina sold 1,055 shares of the stock in a transaction dated Friday, October 29th. The stock was sold at an average price of $104.89, for a total value of $110,658.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dennis Polk sold 1,300 shares of the business’s stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $106.82, for a total value of $138,866.00. The disclosure for this sale can be found here. Insiders sold a total of 3,655 shares of company stock worth $385,089 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. FourThought Financial LLC grew its stake in shares of SYNNEX by 41.6% during the third quarter. FourThought Financial LLC now owns 320 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 94 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in SYNNEX in the third quarter valued at about $33,000. Exchange Traded Concepts LLC increased its holdings in SYNNEX by 89.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 457 shares of the business services provider’s stock worth $52,000 after purchasing an additional 216 shares during the last quarter. Spire Wealth Management raised its position in shares of SYNNEX by 4,000.0% in the 3rd quarter. Spire Wealth Management now owns 615 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 600 shares in the last quarter. Finally, Islay Capital Management LLC grew its position in shares of SYNNEX by 13.5% during the third quarter. Islay Capital Management LLC now owns 924 shares of the business services provider’s stock worth $96,000 after buying an additional 110 shares in the last quarter. Institutional investors own 86.13% of the company’s stock.

SYNNEX Company Profile

TD SYNNEX Corp. engages in the provision of distribution, logistics and integration services for the technology industry. It operates through the following segments: Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals, IT systems including data center server and storage solutions, system components, software, networking equipment, consumer electronics, and complementary products.

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