On September 19, 2023, Stifel Nicolaus, an investment banking company, raised its price target for TD SYNNEX (NYSE:SNX) from $110.00 to $120.00 in a research note. According to FlyOnTheWall, this new price objective suggests a potential upside of 19.04% from the stock’s current price.
At market open on Tuesday, shares of TD SYNNEX were trading at $100.81. The company has a fifty-day moving average price of $99.18 and a two-hundred day moving average price of $94.64. With a market capitalization of $9.45 billion, TD SYNNEX boasts a PE ratio of 14.36 and a beta of 1.61.
Over the past year, TD SYNNEX has seen its share prices fluctuate between a low of $78.86 and a high of $111.57. These figures highlight the company’s potential for growth and volatility within the stock market.
In terms of financial health, TD SYNEX demonstrates a debt-to-equity ratio of 0.46 along with a current ratio of 1.30 and quick ratio of 0.76.
Many institutional investors and hedge funds have recently adjusted their stakes in TD SYNEX, with some increasing their positions while others have reduced theirs.
Crossmark Global Holdings Inc., for example, lifted its position by purchasing an additional 114 shares during the second quarter; Assetmark Inc.’s holdings increased by acquiring an extra 126 shares in the first quarter; Captrust Financial Advisors saw an increase in their stake by purchasing an additional 133 shares during the first quarter; Price T Rowe Associates Inc., MD also acquired more shares totalling up to 140 shares during the second quarter; finally, The Manufacturers Life Insurance Company bought an additional 141 shares during the fourth quarter.
Considering the aforementioned institutional activity, it is evident that these investors have recognized the potential value of TD SYNEX.
On June 27th, 2023, TD SYNEX released its earnings report for the quarter. The business services provider reported earnings per share (EPS) of $2.43, which fell short of analysts’ consensus estimates by ($0.12). Despite this slight miss, TD SYNEX managed to maintain a return on equity of 13.25% and a net margin of 1.10%.
During this quarter, the company generated revenue amounting to $14.06 billion, slightly lower than analyst estimates of $14.42 billion. This signifies a decrease of 7.9% compared to the same period in the previous year when the company posted earnings per share of $2.66.
Looking ahead, analysts predict that TD SYNNEX will achieve an EPS of 10.46 for the current fiscal year.
In summary, Stifel Nicolaus raised its price target for TD SYNNEX shares from $110.00 to $120.00, indicating a potential upside for investors. Despite falling short of analysts’ expectations in its recent earnings report, TD SYNNEX has demonstrated financial stability with steady returns on equity and a healthy net margin. Institutional investors have also shown confidence in the company by increasing their positions during recent quarters. As always, potential investors should conduct thorough research before making any investment decisions based on this information.
*Note: This article is entirely fictional and does not represent real market events or entities.*
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TD SYNNEX: Stock Performance, Analyst Ratings, and Insider Trading Activities
TD SYNNEX, a leading technology solutions company, has recently been the subject of various reports and analysis regarding its stock performance. Notably, Royal Bank of Canada lowered their price target for TD SYNNEX shares from $98.00 to $97.00 in a research report issued on July 10th. This reduction was followed by Credit Suisse Group decreasing their price target from $106.00 to $90.00 on June 28th and Loop Capital cutting their price objective from $150.00 to $120.00 on July 5th. Bank of America also reduced their target price from $120.00 to $115.00 on June 28th, while Barrington Research lowered their price target from $120.00 to $115.00 on the same day.
Analysts’ opinions regarding TD SYNNEX appear to be divided, with five equities research analysts rating the stock as a hold, three giving it a buy rating, and one issuing a strong buy rating for the company’s stock.
According to data obtained from Bloomberg.com, TD SYNNEX currently holds a consensus rating of “Moderate Buy” along with an average target price of $109.18.
In addition to these reports, there have been notable insider trading activities within the company as well. CFO Marshall Witt recently sold 1,082 shares of TD SYNNEX stock on September 15th at an average price of $100.37 per share amounting to a total value of over $108,600. Following this transaction, Witt now holds 50,893 shares valued at approximately $5,108,130.
It is important to note that this information was disclosed in accordance with regulations set forth by the Securities & Exchange Commission (SEC) through its website.
Another key figure involved in insider trading was CEO Richard T. Hume who sold 15,000 shares of TD SYNNEX stock on September 1st at an average price of $103.26 per share, resulting in a total value of $1,548,900. Following this transaction, Hume owns 229,344 shares valued at roughly $23,682,061.
Overall, within the past three months, insiders have collectively sold 2,355,766 shares of TD SYNNEX stock with a cumulative worth of approximately $222,785,736. Additionally, it is reported that company insiders now hold a 1.70% stake in the stock.
As per regulations and disclosure requirements mandated by the SEC, these insider trading activities and relevant information are openly accessible via the SEC website.
