Shares of SYNNEX Co. (NYSE:SNX) have been assigned an average rating of “Buy” from the ten brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $129.00.
Several analysts recently commented on the stock. Raymond James cut their price objective on shares of SYNNEX from $165.00 to $120.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, March 25th. Barrington Research increased their price objective on shares of SYNNEX from $96.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. ValuEngine downgraded shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research report on Monday, May 18th. TheStreet downgraded shares of SYNNEX from a “b-” rating to a “c” rating in a research report on Monday, March 30th. Finally, Zacks Investment Research raised shares of SYNNEX from a “sell” rating to a “strong-buy” rating and set a $111.00 price target on the stock in a report on Wednesday, May 27th.
In other SYNNEX news, major shareholder Star Developments Ltd Silver acquired 10,000 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were purchased at an average price of $71.47 per share, for a total transaction of $714,700.00. Following the purchase, the insider now directly owns 5,299,980 shares of the company’s stock, valued at $378,789,570.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Dwight Steffensen sold 366 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $71.56, for a total transaction of $26,190.96. Following the completion of the transaction, the director now owns 188,222 shares in the company, valued at approximately $13,469,166.32. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 61,000 shares of company stock worth $4,370,700 and have sold 5,436 shares worth $543,788. Company insiders own 2.80% of the company’s stock.
Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of SYNNEX by 34.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,706,157 shares of the business services provider’s stock worth $124,720,000 after purchasing an additional 433,776 shares during the period. Lyrical Asset Management LP bought a new position in shares of SYNNEX in the 4th quarter worth approximately $162,192,000. AQR Capital Management LLC lifted its stake in shares of SYNNEX by 192.8% in the 1st quarter. AQR Capital Management LLC now owns 1,222,493 shares of the business services provider’s stock worth $89,364,000 after purchasing an additional 804,956 shares during the period. State Street Corp raised its stake in SYNNEX by 0.4% during the 1st quarter. State Street Corp now owns 1,006,073 shares of the business services provider’s stock worth $73,544,000 after acquiring an additional 3,686 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in SYNNEX by 23.3% during the 4th quarter. Nuveen Asset Management LLC now owns 563,435 shares of the business services provider’s stock worth $72,570,000 after acquiring an additional 106,478 shares during the period. Hedge funds and other institutional investors own 74.98% of the company’s stock.
Shares of SYNNEX stock traded down $10.80 during trading on Monday, hitting $98.33. The company’s stock had a trading volume of 210,884 shares, compared to its average volume of 435,346. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.00 and a current ratio of 1.64. The company has a fifty day simple moving average of $94.74 and a two-hundred day simple moving average of $112.77. The company has a market capitalization of $6.01 billion, a PE ratio of 10.49, a P/E/G ratio of 1.35 and a beta of 1.53. SYNNEX has a 52 week low of $52.06 and a 52 week high of $153.07.
SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, March 24th. The business services provider reported $3.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.08 by $0.18. SYNNEX had a net margin of 2.26% and a return on equity of 19.04%. The company had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the firm posted $2.84 EPS. SYNNEX’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts predict that SYNNEX will post 9.05 EPS for the current year.
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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