SYNNEX Co. (SNX) Receives Consensus Rating of “Buy” from Analysts

SYNNEX Co. (NYSE:SNX) has earned a consensus rating of “Buy” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $123.00.

Several brokerages have recently weighed in on SNX. ValuEngine upgraded shares of SYNNEX from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Citigroup set a $140.00 target price on shares of SYNNEX and gave the company a “buy” rating in a research note on Friday, April 12th. Barrington Research began coverage on shares of SYNNEX in a research note on Thursday, April 4th. They issued an “outperform” rating for the company. TheStreet downgraded shares of SYNNEX from a “b” rating to a “c+” rating in a research note on Tuesday, April 2nd. Finally, Zacks Investment Research downgraded shares of SYNNEX from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th.

SNX traded up $1.01 during trading on Friday, hitting $94.25. 348 shares of the company’s stock were exchanged, compared to its average volume of 358,587. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.81. SYNNEX has a 1 year low of $71.82 and a 1 year high of $116.47. The company has a market cap of $4.95 billion, a P/E ratio of 8.63, a P/E/G ratio of 0.68 and a beta of 0.78.

SYNNEX (NYSE:SNX) last announced its earnings results on Wednesday, March 27th. The business services provider reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.09. The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.29 billion. SYNNEX had a net margin of 1.75% and a return on equity of 17.78%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.14 earnings per share. Research analysts anticipate that SYNNEX will post 11.91 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a dividend of $0.375 per share. The ex-dividend date was Thursday, April 11th. This represents a $1.50 dividend on an annualized basis and a yield of 1.59%. SYNNEX’s dividend payout ratio (DPR) is 13.77%.

In other SYNNEX news, SVP Simon Leung sold 1,000 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $100.16, for a total transaction of $100,160.00. Following the transaction, the senior vice president now directly owns 23,043 shares in the company, valued at approximately $2,307,986.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marshall Witt sold 600 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $108.28, for a total transaction of $64,968.00. Following the transaction, the chief financial officer now owns 16,493 shares in the company, valued at $1,785,862.04. The disclosure for this sale can be found here. Insiders have sold a total of 19,553 shares of company stock worth $2,053,720 over the last quarter. 3.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Private Capital Group LLC acquired a new stake in shares of SYNNEX during the first quarter worth $25,000. JOYN Advisors Inc. raised its holdings in shares of SYNNEX by 375.0% during the fourth quarter. JOYN Advisors Inc. now owns 380 shares of the business services provider’s stock worth $31,000 after purchasing an additional 300 shares during the period. Sage Capital Advisors llc acquired a new stake in shares of SYNNEX during the fourth quarter worth $40,000. Parkside Financial Bank & Trust raised its holdings in shares of SYNNEX by 103.3% during the fourth 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 during the period. Finally, Optimum Investment Advisors raised its holdings in shares of SYNNEX by 5,000.0% during the first quarter. Optimum Investment Advisors now owns 612 shares of the business services provider’s stock worth $58,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 78.39% 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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