Shares of SYNNEX Co. (NYSE:SNX) have been assigned an average recommendation of “Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $115.20.

A number of equities analysts have recently commented on SNX shares. ValuEngine lowered SYNNEX from a “sell” rating to a “strong sell” rating in a report on Thursday, January 17th. Citigroup raised SYNNEX from a “neutral” rating to a “buy” rating and set a $97.02 price objective for the company in a research note on Monday, January 28th. Cross Research raised SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, January 11th. TheStreet raised SYNNEX from a “c+” rating to a “b-” rating in a research note on Friday, January 25th. Finally, Zacks Investment Research lowered SYNNEX from a “buy” rating to a “hold” rating in a research note on Thursday.

Shares of SYNNEX stock traded up $0.94 during trading hours on Friday, reaching $95.14. The company had a trading volume of 584,095 shares, compared to its average volume of 431,730. SYNNEX has a one year low of $71.82 and a one year high of $126.99. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.45 and a quick ratio of 0.94. The firm has a market capitalization of $4.87 billion, a P/E ratio of 8.74 and a beta of 0.74.

SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, January 10th. The business services provider reported $3.65 EPS for the quarter, topping the Zacks’ consensus estimate of $3.25 by $0.40. SYNNEX had a return on equity of 17.54% and a net margin of 1.50%. The firm had revenue of $5.62 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same period last year, the company earned $2.79 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts expect that SYNNEX will post 11.81 earnings per share for the current fiscal year.

In other SYNNEX news, Director Andrea M. Zulberti sold 2,416 shares of SYNNEX stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $90.45, for a total transaction of $218,527.20. Following the completion of the sale, the director now owns 14,717 shares of the company’s stock, valued at $1,331,152.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 600 shares of SYNNEX stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $79.31, for a total value of $47,586.00. Following the sale, the chief financial officer now directly owns 17,674 shares of the company’s stock, valued at approximately $1,401,724.94. The disclosure for this sale can be found here. Insiders have sold 4,216 shares of company stock valued at $383,383 in the last three months. 3.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of SNX. BlackRock Inc. lifted its stake in SYNNEX by 31.4% during the fourth quarter. BlackRock Inc. now owns 4,965,381 shares of the business services provider’s stock worth $401,402,000 after purchasing an additional 1,187,745 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of SYNNEX by 44.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,563,670 shares of the business services provider’s stock worth $207,246,000 after buying an additional 788,533 shares during the period. Boston Partners increased its holdings in shares of SYNNEX by 86.3% in the fourth quarter. Boston Partners now owns 1,521,539 shares of the business services provider’s stock worth $123,002,000 after buying an additional 704,910 shares during the period. LSV Asset Management increased its holdings in shares of SYNNEX by 1,793.4% in the fourth quarter. LSV Asset Management now owns 622,916 shares of the business services provider’s stock worth $50,356,000 after buying an additional 590,016 shares during the period. Finally, FMR LLC increased its holdings in shares of SYNNEX by 9.4% in the fourth quarter. FMR LLC now owns 6,502,935 shares of the business services provider’s stock worth $525,697,000 after buying an additional 558,710 shares during the period. 76.58% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for SYNNEX (NYSE:SNX)

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