SYNNEX Co. (SNX) Receives $111.00 Consensus Price Target from Brokerages
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.
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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