TD SYNNEX Co. (NYSE:SNX) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of TD SYNNEX Co. (NYSE:SNX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eight research firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $134.75.

A number of brokerages recently weighed in on SNX. Loop Capital restated a "buy" rating and set a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Barrington Research reaffirmed an "outperform" rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Royal Bank of Canada reissued an "outperform" rating and set a $140.00 target price on shares of TD SYNNEX in a report on Tuesday. Barclays lifted their price target on TD SYNNEX from $131.00 to $132.00 and gave the company an "equal weight" rating in a research report on Friday, September 27th. Finally, StockNews.com cut TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, December 18th.

TD SYNNEX Stock Performance

Shares of SNX traded down $1.22 during mid-day trading on Wednesday, reaching $122.01. 802,600 shares of the company's stock traded hands, compared to its average volume of 585,940. TD SYNNEX has a 12 month low of $98.70 and a 12 month high of $133.85. The stock has a market capitalization of $10.38 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The business's 50-day moving average price is $119.58 and its 200-day moving average price is $117.79. 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 Buying and Selling

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now directly owns 171,080 shares in the company, valued at approximately $20,652,777.60. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now directly owns 23,339 shares of the company's stock, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

Several institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc boosted its stake in TD SYNNEX by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider's stock valued at $313,000 after purchasing an additional 86 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in TD SYNNEX by 3.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider's stock worth $315,000 after acquiring an additional 90 shares during the period. AlphaMark Advisors LLC raised its stake in TD SYNNEX by 1.3% during the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider's stock valued at $929,000 after purchasing an additional 100 shares during the last quarter. Atria Investments Inc grew its position in TD SYNNEX by 4.1% in the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider's stock worth $344,000 after purchasing an additional 112 shares during the last quarter. Finally, Meixler Investment Management Ltd. increased its holdings in shares of TD SYNNEX by 2.1% during the 3rd quarter. Meixler Investment Management Ltd. now owns 5,814 shares of the business services provider's stock worth $698,000 after purchasing an additional 120 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.