SYNNEX Co. (SNX) Given Average Rating of “Buy” by Analysts

SYNNEX Co. (NYSE:SNX) has been assigned a consensus recommendation of “Buy” from the eleven analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $116.86.

Several brokerages recently commented on SNX. Barrington Research started coverage on SYNNEX in a report on Thursday, April 4th. They set an “outperform” rating on the stock. TheStreet lowered shares of SYNNEX from a “b” rating to a “c+” rating in a research report on Tuesday, April 2nd. ValuEngine upgraded shares of SYNNEX from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Raymond James set a $140.00 price target on shares of SYNNEX and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, Zacks Investment Research upgraded shares of SYNNEX from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research report on Tuesday, March 26th.

In other SYNNEX news, Director Andrea M. Zulberti sold 2,416 shares of SYNNEX stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $90.45, for a total transaction of $218,527.20. Following the transaction, the director now directly owns 14,717 shares in the company, valued at approximately $1,331,152.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kevin M. Murai sold 5,000 shares of SYNNEX stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $103.51, for a total transaction of $517,550.00. Following the transaction, the director now owns 19,362 shares in the company, valued at $2,004,160.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,511 shares of company stock worth $1,141,855. 3.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SNX. JOYN Advisors Inc. grew its position in 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 valued at $40,000 after acquiring an additional 253 shares in the last quarter. Sage Capital Advisors llc purchased a new position in shares of SYNNEX during the 4th quarter valued at $40,000. O Shaughnessy Asset Management LLC purchased a new position in shares of SYNNEX during the 4th quarter valued at $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 valued at $87,000 after acquiring an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 77.68% of the company’s stock.

NYSE:SNX traded up $0.30 during midday trading on Thursday, hitting $104.60. 3,052 shares of the stock were exchanged, compared to its average volume of 353,992. SYNNEX has a one year low of $71.82 and a one year high of $116.47. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 0.72 and a beta of 0.73. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.66 and a quick ratio of 1.03.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a $0.375 dividend. The ex-dividend date is Thursday, April 11th. This represents a $1.50 annualized dividend and a yield of 1.43%. SYNNEX’s dividend payout ratio (DPR) is 13.77%.

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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