SYNNEX (NYSE:SNX) Price Target Raised to $140.00
SYNNEX (NYSE:SNX) had its price objective hoisted by Loop Capital from $130.00 to $140.00 in a report published on Friday, The Fly reports. They currently have a buy rating on the business services provider’s stock.
SNX has been the topic of a number of other research reports. Stifel Nicolaus upped their target price on SYNNEX from $120.00 to $130.00 and gave the company a buy rating in a report on Friday. Citigroup upped their price objective on shares of SYNNEX from $130.00 to $150.00 and gave the company a buy rating in a research note on Friday. TheStreet lowered shares of SYNNEX from a b- rating to a c rating in a research note on Monday, March 30th. Raymond James boosted their price target on shares of SYNNEX from $120.00 to $140.00 and gave the company a strong-buy rating in a report on Friday. Finally, Barrington Research increased their price objective on SYNNEX from $96.00 to $115.00 and gave the stock an outperform rating in a report on Tuesday, May 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. SYNNEX has a consensus rating of Buy and an average target price of $130.86.
NYSE SNX opened at $117.87 on Friday. SYNNEX has a twelve month low of $52.06 and a twelve month high of $153.07. 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 stock has a market cap of $6.00 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.41 and a beta of 1.53. The firm’s 50 day moving average price is $103.27 and its two-hundred day moving average price is $110.95.
In related news, Director Kevin M. Murai sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $101.80, for a total value of $254,500.00. Following the completion of the sale, the director now directly owns 12,065 shares in the company, valued at approximately $1,228,217. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Star Developments Ltd Silver bought 10,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were bought at an average cost of $71.47 per share, with a total value of $714,700.00. Following the transaction, the insider now directly owns 5,299,980 shares of the company’s stock, valued at $378,789,570.60. The disclosure for this purchase can be found here. Insiders have sold a total of 7,570 shares of company stock worth $772,097 in the last 90 days. 2.80% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of the company. Lyrical Asset Management LP bought a new position in shares of SYNNEX in the fourth quarter worth about $162,192,000. AQR Capital Management LLC boosted its stake in SYNNEX by 192.8% during the 1st quarter. AQR Capital Management LLC now owns 1,222,493 shares of the business services provider’s stock valued at $89,364,000 after purchasing an additional 804,956 shares during the period. Norges Bank acquired a new stake in SYNNEX in the 4th quarter valued at approximately $67,033,000. JPMorgan Chase & Co. increased its position in 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 buying an additional 433,776 shares during the period. Finally, Provident Investment Management Inc. acquired a new position in shares of SYNNEX during the first quarter worth approximately $25,978,000. Institutional investors and hedge funds own 74.98% of the company’s stock.
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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