SYNNEX (NYSE:SNX) had its target price upped by equities research analysts at Citigroup from $150.00 to $180.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Citigroup‘s price target would suggest a potential upside of 24.76% from the stock’s current price. The analysts noted that the move was a valuation call.

Other research analysts have also issued reports about the stock. TheStreet upgraded shares of SYNNEX from a “c+” rating to a “b-” rating in a research note on Monday, July 27th. Loop Capital boosted their price target on shares of SYNNEX from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Raymond James restated a “buy” rating on shares of SYNNEX in a research report on Wednesday, September 9th. ValuEngine upgraded shares of SYNNEX from a “strong sell” rating to a “sell” rating in a research report on Monday, August 3rd. Finally, Barrington Research boosted their price target on shares of SYNNEX from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, June 26th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. SYNNEX has an average rating of “Buy” and a consensus price target of $157.86.

SYNNEX stock opened at $144.28 on Wednesday. SYNNEX has a 1-year low of $52.06 and a 1-year high of $153.07. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.23 and a beta of 1.54. The company has a current ratio of 1.52, a quick ratio of 0.94 and a debt-to-equity ratio of 0.69. The firm has a 50 day simple moving average of $127.79 and a 200 day simple moving average of $106.79.

SYNNEX (NYSE:SNX) last released its quarterly earnings data on Sunday, October 4th. The business services provider reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $1.07. SYNNEX had a net margin of 2.03% and a return on equity of 17.29%. The business had revenue of $6.47 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the business earned $3.30 EPS. SYNNEX’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts forecast that SYNNEX will post 10.75 EPS for the current year.

In other news, Director Kevin M. Murai sold 4,600 shares of SYNNEX stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $125.63, for a total transaction of $577,898.00. Following the completion of the sale, the director now directly owns 11,709 shares of the company’s stock, valued at approximately $1,471,001.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight Steffensen sold 524 shares of SYNNEX stock in a transaction on Monday, July 20th. The stock was sold at an average price of $121.80, for a total transaction of $63,823.20. Following the sale, the director now directly owns 1,570 shares of the company’s stock, valued at $191,226. The disclosure for this sale can be found here. Insiders have sold a total of 37,987 shares of company stock valued at $4,729,703 over the last 90 days. Company insiders own 2.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of SYNNEX by 16.7% during the 2nd quarter. Principal Financial Group Inc. now owns 361,843 shares of the business services provider’s stock worth $43,339,000 after acquiring an additional 51,799 shares during the last quarter. Quadrature Capital Ltd bought a new stake in SYNNEX in the second quarter worth $1,662,000. Handelsbanken Fonder AB bought a new stake in SYNNEX in the second quarter worth $855,000. Nuveen Asset Management LLC lifted its stake in SYNNEX by 2.9% in the second quarter. Nuveen Asset Management LLC now owns 381,655 shares of the business services provider’s stock worth $45,711,000 after purchasing an additional 10,908 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in SYNNEX by 3.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 326,982 shares of the business services provider’s stock worth $39,163,000 after purchasing an additional 11,509 shares during the last quarter. 75.60% of the stock is owned by 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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