TD SYNNEX (NYSE:SNX) Raised to Buy at Cfra

TD SYNNEX (NYSE:SNX - Get Free Report) was upgraded by analysts at Cfra from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a $147.00 price objective on the business services provider's stock, up from their previous price objective of $122.00. Cfra's price target would indicate a potential upside of 9.57% from the company's previous close.

A number of other equities analysts have also weighed in on the company. Barrington Research reissued an "outperform" rating and set a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Loop Capital reissued a "buy" rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. StockNews.com cut shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Barclays boosted their target price on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an "equal weight" rating in a report on Friday, September 27th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $140.00 price target on shares of TD SYNNEX in a report on Tuesday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, TD SYNNEX currently has a consensus rating of "Moderate Buy" and an average price target of $139.00.

TD SYNNEX Stock Performance

Shares of SNX stock traded up $12.06 during mid-day trading on Friday, reaching $134.16. The stock had a trading volume of 1,505,977 shares, compared to its average volume of 739,340. TD SYNNEX has a 1-year low of $98.70 and a 1-year high of $134.48. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.14 and a beta of 1.46. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The business's fifty day moving average is $119.77 and its 200-day moving average is $117.85.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares of the company's stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 directly owns 48,362 shares of the company's stock, valued at $5,858,089.06. This represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,876 shares of company stock worth $8,196,529. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new stake in TD SYNNEX in the third quarter valued at $30,000. UMB Bank n.a. raised its position 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 worth $35,000 after acquiring an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in TD SYNNEX during the third quarter worth approximately $37,000. Ashton Thomas Private Wealth LLC acquired a new position in TD SYNNEX in the second quarter valued at approximately $52,000. Finally, Point72 DIFC Ltd purchased a new position in TD SYNNEX in the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

About TD SYNNEX

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.