Royal Bank of Canada Issues Positive Forecast for TD SYNNEX (NYSE:SNX) Stock Price

TD SYNNEX (NYSE:SNX - Get Free Report) had its price target lifted by equities researchers at Royal Bank of Canada from $140.00 to $165.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the business services provider's stock. Royal Bank of Canada's price objective would suggest a potential upside of 18.49% from the company's current price.

SNX has been the subject of several other reports. JPMorgan Chase & Co. raised their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. Cfra upgraded TD SYNNEX from a "hold" rating to a "buy" rating and raised their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. 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 report on Monday, January 13th. Finally, StockNews.com upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, February 15th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $147.50.

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TD SYNNEX Price Performance

SNX traded down $2.09 on Friday, hitting $139.26. 435,761 shares of the company were exchanged, compared to its average volume of 643,285. The business's fifty day moving average is $132.89 and its 200 day moving average is $123.71. TD SYNNEX has a fifty-two week low of $101.21 and a fifty-two week high of $145.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The firm has a market capitalization of $11.75 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49.

Insider Transactions at TD SYNNEX

In other news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the sale, the director now owns 4,856 shares of the company's stock, valued at $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the company's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares of the company's stock, valued at $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,289 shares of company stock worth $3,639,500 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System boosted its holdings in shares of TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider's stock valued at $2,607,000 after purchasing an additional 78 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of TD SYNNEX by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider's stock worth $313,000 after buying an additional 86 shares during the period. Quadrant Capital Group LLC boosted its holdings in TD SYNNEX by 9.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock valued at $125,000 after acquiring an additional 90 shares during the last quarter. Ellevest Inc. grew its position in TD SYNNEX by 3.9% during the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock valued at $280,000 after acquiring an additional 90 shares during the period. Finally, Utah Retirement Systems increased its stake in TD SYNNEX by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock worth $481,000 after acquiring an additional 100 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other 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.