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.

SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, June 25th. The business services provider reported $1.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.77) by $2.60. The business had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.17 billion. SYNNEX had a return on equity of 17.39% and a net margin of 2.03%. SYNNEX’s revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.86 earnings per share. On average, research analysts forecast that SYNNEX will post 8.8 EPS for the current fiscal year.

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.

About SYNNEX

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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