Raymond James Analysts Give SYNNEX (NYSE:SNX) a $140.00 Price Target

Raymond James set a $140.00 price objective on SYNNEX (NYSE:SNX) in a report issued on Thursday, March 28th, Stock Target Advisor reports. The brokerage currently has a buy rating on the business services provider’s stock.

SNX has been the subject of a number of other reports. Zacks Investment Research cut SYNNEX from a buy rating to a hold rating in a research note on Wednesday, December 5th. ValuEngine lowered SYNNEX from a sell rating to a strong sell rating in a research report on Tuesday, March 5th. Citigroup upgraded SYNNEX from a neutral rating to a buy rating and set a $97.02 price objective for the company in a research report on Monday, January 28th. Cross Research upgraded SYNNEX from a hold rating to a buy rating in a research report on Friday, January 11th. Finally, TheStreet upgraded SYNNEX from a c+ rating to a b- rating in a research report on Friday, January 25th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $123.00.

NYSE:SNX traded down $0.18 on Thursday, hitting $107.27. 260,420 shares of the stock were exchanged, compared to its average volume of 323,389. The stock has a market capitalization of $5.49 billion, a P/E ratio of 9.85, a P/E/G ratio of 0.75 and a beta of 0.73. SYNNEX has a 52 week low of $71.82 and a 52 week high of $116.47. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.81.

SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Wednesday, March 27th. The business services provider reported $2.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.75 by $0.09. The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.29 billion. SYNNEX had a return on equity of 17.78% and a net margin of 1.75%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.14 EPS. As a group, equities analysts predict that SYNNEX will post 11.89 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Thursday, April 11th. SYNNEX’s payout ratio is presently 13.77%.

In other SYNNEX news, CFO Marshall Witt sold 600 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $96.41, for a total transaction of $57,846.00. Following the transaction, the chief financial officer now owns 18,293 shares in the company, valued at approximately $1,763,628.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin M. Murai sold 5,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $103.51, for a total value of $517,550.00. Following the transaction, the director now owns 19,362 shares in the company, valued at approximately $2,004,160.62. The disclosure for this sale can be found here. In the last three months, insiders sold 18,553 shares of company stock valued at $1,939,328. 3.20% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. JOYN Advisors Inc. grew its holdings in shares of SYNNEX by 375.0% during the 4th quarter. JOYN Advisors Inc. now owns 380 shares of the business services provider’s stock worth $31,000 after purchasing an additional 300 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of SYNNEX by 103.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 498 shares of the business services provider’s stock worth $40,000 after purchasing an additional 253 shares in the last quarter. Sage Capital Advisors llc acquired a new stake in shares of SYNNEX during the 4th quarter worth $40,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of SYNNEX during the 4th quarter worth $70,000. Finally, Huntington National Bank grew its holdings in shares of SYNNEX by 31.7% during the 1st quarter. Huntington National Bank now owns 914 shares of the business services provider’s stock worth $87,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 77.68% of the company’s stock.

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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