Recent Research Analysts’ Ratings Changes for SYNNEX (SNX)

SYNNEX (NYSE: SNX) has recently received a number of price target changes and ratings updates:

  • 4/15/2019 – SYNNEX was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 4/12/2019 – SYNNEX was given a new $140.00 price target on by analysts at Citigroup Inc. They now have a “buy” rating on the stock.
  • 4/4/2019 – SYNNEX is now covered by analysts at Barrington Research. They set an “outperform” rating on the stock.
  • 4/2/2019 – SYNNEX was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
  • 4/1/2019 – SYNNEX was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 3/28/2019 – SYNNEX was given a new $140.00 price target on by analysts at Raymond James. They now have a “buy” rating on the stock.
  • 3/26/2019 – SYNNEX was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $102.00 price target on the stock. According to Zacks, “SYNNEX Corporation, a business process services company, provides business-to-business services that help their customers and business partners grow and enhance their customer-engagement strategies. Headquartered in Fremont, CA, and with operations in more than 30 countries, SYNNEX is an industry leader in IT distribution and customer care outsourced services, operating in two business segments: Technology Solutions and Concentrix. SYNNEX brings the most relevant technology solutions to the IT and consumer electronics markets to help their partners sustainably grow their business. With more than 100,000 associates operating in 25 countries and with fluency in over 40 languages, their Concentrix division delivers high-value business services and solutions for the customer-relationship lifecycle to more than 450 clients. SYNNEX is listed on the New York Stock Exchange (NYSE: SNX) and was ranked 198 on the 2017 Fortune 500. “
  • 3/14/2019 – SYNNEX was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “SYNNEX Corporation, a business process services company, provides business-to-business services that help their customers and business partners grow and enhance their customer-engagement strategies. Headquartered in Fremont, CA, and with operations in more than 30 countries, SYNNEX is an industry leader in IT distribution and customer care outsourced services, operating in two business segments: Technology Solutions and Concentrix. SYNNEX brings the most relevant technology solutions to the IT and consumer electronics markets to help their partners sustainably grow their business. With more than 100,000 associates operating in 25 countries and with fluency in over 40 languages, their Concentrix division delivers high-value business services and solutions for the customer-relationship lifecycle to more than 450 clients. SYNNEX is listed on the New York Stock Exchange (NYSE: SNX) and was ranked 198 on the 2017 Fortune 500. “
  • 3/5/2019 – SYNNEX was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.

Shares of SNX stock opened at $107.36 on Wednesday. SYNNEX Co. has a 52-week low of $71.82 and a 52-week high of $116.47. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 0.76 and a beta of 0.73.

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

The company also recently disclosed 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. This represents a $1.50 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Thursday, April 11th. SYNNEX’s payout ratio is 13.77%.

In other SYNNEX news, CFO Marshall Witt sold 600 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $99.04, for a total value of $59,424.00. Following the transaction, the chief financial officer now directly owns 17,693 shares in the company, valued at $1,752,314.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kevin M. Murai sold 4,458 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $106.92, for a total transaction of $476,649.36. Following the completion of the transaction, the director now owns 19,362 shares in the company, valued at $2,070,185.04. The disclosure for this sale can be found here. Insiders sold a total of 13,553 shares of company stock valued at $1,399,978 over the last ninety days. 3.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in SYNNEX by 9.4% in the fourth quarter. FMR LLC now owns 6,502,935 shares of the business services provider’s stock valued at $525,697,000 after acquiring an additional 558,710 shares during the last quarter. BlackRock Inc. boosted its stake in SYNNEX by 31.4% in the fourth quarter. BlackRock Inc. now owns 4,965,381 shares of the business services provider’s stock valued at $401,402,000 after acquiring an additional 1,187,745 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in SYNNEX by 44.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,563,670 shares of the business services provider’s stock valued at $207,246,000 after acquiring an additional 788,533 shares during the last quarter. Boston Partners boosted its stake in SYNNEX by 86.3% in the fourth quarter. Boston Partners now owns 1,521,539 shares of the business services provider’s stock valued at $123,002,000 after acquiring an additional 704,910 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in SYNNEX by 23.7% in the fourth quarter. Northern Trust Corp now owns 1,170,656 shares of the business services provider’s stock valued at $94,635,000 after acquiring an additional 224,214 shares during the last quarter. Hedge funds and other institutional investors own 77.68% of the company’s stock.

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.

Recommended Story: How to use beta for portfolio diversification

Receive News & Ratings for SYNNEX Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYNNEX Co and related companies with MarketBeat.com's FREE daily email newsletter.