SYNNEX (NYSE:SNX) has been given a $118.00 target price by equities research analysts at Barrington Research in a research note issued on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Barrington Research’s price target would suggest a potential upside of 22.84% from the stock’s current price.
A number of other brokerages have also recently weighed in on SNX. TheStreet cut shares of SYNNEX from a “b” rating to a “c+” rating in a report on Tuesday, April 2nd. Citigroup set a $140.00 target price on shares of SYNNEX and gave the stock a “buy” rating in a report on Friday, April 12th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Raymond James reissued a “buy” rating on shares of Flexion Therapeutics in a report on Thursday, March 28th. Finally, Zacks Investment Research raised shares of Booz Allen Hamilton from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $122.57.
SNX traded up $2.24 during trading on Friday, hitting $96.06. The company had a trading volume of 345,687 shares, compared to its average volume of 713,128. The company has a market cap of $4.92 billion, a P/E ratio of 8.82, a PEG ratio of 0.66 and a beta of 1.00. The stock has a 50-day moving average of $94.36. The company has a current ratio of 1.57, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. SYNNEX has a 1-year low of $71.82 and a 1-year high of $109.62.
SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, June 25th. The business services provider reported $2.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.15. The company had revenue of $5.72 billion for the quarter, compared to analysts’ expectations of $5.53 billion. SYNNEX had a net margin of 1.79% and a return on equity of 17.65%. Sell-side analysts predict that SYNNEX will post 12.1 earnings per share for the current year.
In related news, Director Kevin M. Murai sold 5,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $107.87, for a total value of $539,350.00. Following the sale, the director now owns 19,362 shares of the company’s stock, valued at approximately $2,088,578.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Simon Leung sold 1,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $107.27, for a total transaction of $107,270.00. Following the completion of the sale, the senior vice president now directly owns 22,257 shares in the company, valued at approximately $2,387,508.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,166 shares of company stock worth $1,062,550. Corporate insiders own 3.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SNX. Private Capital Group LLC acquired a new stake in shares of SYNNEX in the 1st quarter worth about $25,000. CENTRAL TRUST Co increased its holdings in shares of SYNNEX by 290.7% in the 2nd quarter. CENTRAL TRUST Co now owns 336 shares of the business services provider’s stock worth $32,000 after acquiring an additional 250 shares during the period. Optimum Investment Advisors increased its holdings in shares of SYNNEX by 5,000.0% in the 1st quarter. Optimum Investment Advisors now owns 612 shares of the business services provider’s stock worth $58,000 after acquiring an additional 600 shares during the period. Investors Research Corp bought a new position in SYNNEX in the 1st quarter valued at about $68,000. Finally, Huntington National Bank grew its position in SYNNEX by 31.7% in the 1st quarter. Huntington National Bank now owns 914 shares of the business services provider’s stock valued at $87,000 after buying an additional 220 shares in the last quarter. 77.45% of the stock is currently owned by institutional investors and hedge funds.
SYNNEX Company Profile
SYNNEX Corporation provides business process services in the Americas, Asia-Pacific, Europe and Africa. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center servers and storage solutions; system components; software; networking, communications, and security equipment; consumer electronics; and complementary products.
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