Shares of SYNNEX Co. (NYSE:SNX) have earned an average rating of “Buy” from the ten research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $132.29.

A number of brokerages recently weighed in on SNX. Loop Capital cut their price objective on shares of SYNNEX from $175.00 to $112.00 and set a “buy” rating on the stock in a research note on Tuesday, March 24th. Barrington Research reduced their price target on SYNNEX from $150.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Raymond James reduced their target price on SYNNEX from $165.00 to $120.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 25th. TheStreet downgraded SYNNEX from a “b-” rating to a “c” rating in a research report on Monday, March 30th. Finally, Cross Research downgraded SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 25th.

In related news, Director Kevin M. Murai sold 2,500 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $105.09, for a total transaction of $262,725.00. Following the completion of the transaction, the director now directly owns 10,202 shares of the company’s stock, valued at $1,072,128.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight Steffensen sold 366 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $71.56, for a total value of $26,190.96. Following the completion of the sale, the director now directly owns 188,222 shares of the company’s stock, valued at $13,469,166.32. The disclosure for this sale can be found here. In the last three months, insiders acquired 61,000 shares of company stock worth $4,370,700 and sold 3,436 shares worth $333,268. Corporate insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Delta Asset Management LLC TN lifted its holdings in SYNNEX by 562.2% during the 4th quarter. Delta Asset Management LLC TN now owns 245 shares of the business services provider’s stock worth $32,000 after buying an additional 208 shares during the period. Sowell Financial Services LLC increased its holdings in SYNNEX by 2,128.6% during the 1st quarter. Sowell Financial Services LLC now owns 468 shares of the business services provider’s stock worth $34,000 after purchasing an additional 447 shares in the last quarter. Assetmark Inc. bought a new position in shares of SYNNEX in the fourth quarter valued at approximately $44,000. Cognios Capital LLC bought a new position in shares of SYNNEX in the first quarter valued at approximately $46,000. Finally, Cutler Group LP bought a new position in shares of SYNNEX in the first quarter valued at approximately $50,000. Institutional investors own 76.67% of the company’s stock.

Shares of NYSE SNX opened at $91.45 on Thursday. SYNNEX has a fifty-two week low of $52.06 and a fifty-two week high of $153.07. The firm’s 50-day simple moving average is $79.91 and its 200 day simple moving average is $114.56. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a market cap of $4.73 billion, a P/E ratio of 8.79, a P/E/G ratio of 2.99 and a beta of 1.48.

SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Tuesday, March 24th. The business services provider reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.18. SYNNEX had a net margin of 2.26% and a return on equity of 19.04%. The business had revenue of $5.26 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the business earned $2.84 earnings per share. The company’s revenue was up .3% on a year-over-year basis. On average, sell-side analysts anticipate that SYNNEX will post 3.26 earnings per share for the current fiscal year.

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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