JPMorgan Chase & Co. Forecasts Strong Price Appreciation for TD SYNNEX (NYSE:SNX) Stock

TD SYNNEX (NYSE:SNX - Get Free Report) had its target price upped by investment analysts at JPMorgan Chase & Co. from $135.00 to $150.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the business services provider's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 12.97% from the company's current price.

Several other equities research analysts have also issued reports on the stock. Barrington Research restated an "outperform" rating and set a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. StockNews.com downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Barclays upped their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a research report on Monday. Loop Capital reiterated a "buy" rating and set a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. Finally, Cfra upgraded TD SYNNEX from a "hold" rating to a "buy" rating and boosted their price objective for the company from $122.00 to $147.00 in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, TD SYNNEX has an average rating of "Moderate Buy" and a consensus target price of $144.38.

TD SYNNEX Stock Performance

Shares of NYSE SNX traded down $1.23 during mid-day trading on Monday, reaching $132.78. 1,140,412 shares of the company's stock were exchanged, compared to its average volume of 796,645. The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The firm has a 50-day moving average price of $120.48 and a two-hundred day moving average price of $118.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. TD SYNNEX has a 52 week low of $98.70 and a 52 week high of $134.48.

Insider Activity

In other news, insider David R. Vetter sold 20,000 shares of the business's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the completion of the transaction, the insider now owns 66,381 shares of the company's stock, valued at approximately $8,174,156.34. The trade was a 23.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the transaction, the chief financial officer now owns 48,362 shares in the company, valued at approximately $5,858,089.06. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,876 shares of company stock worth $8,196,529. 1.90% of the stock is owned by company insiders.

Institutional Trading of TD SYNNEX

A number of hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in TD SYNNEX during the third quarter valued at approximately $30,000. UMB Bank n.a. grew its holdings in shares of TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider's stock valued at $35,000 after purchasing an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in TD SYNNEX in the 3rd quarter worth $37,000. Ashton Thomas Private Wealth LLC bought a new stake in TD SYNNEX in the second quarter worth $52,000. Finally, Point72 DIFC Ltd purchased a new stake in TD SYNNEX during the third quarter valued at about $55,000. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Company Profile

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.