SYNNEX (SNX) Stock Rating Lowered by ValuEngine

ValuEngine cut shares of SYNNEX (NYSE:SNX) from a buy rating to a hold rating in a report issued on Friday morning.

A number of other equities research analysts have also recently commented on the company. Citigroup reissued a neutral rating and set a $150.00 price target on shares of SYNNEX in a report on Wednesday, January 10th. Zacks Investment Research raised SYNNEX from a hold rating to a buy rating and set a $153.00 target price on the stock in a report on Saturday, January 13th. Pivotal Research started coverage on SYNNEX in a report on Friday, October 6th. They issued a hold rating and a $137.00 target price on the stock. SunTrust Banks started coverage on SYNNEX in a report on Thursday, December 7th. They issued a buy rating and a $145.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $132.00 target price on shares of SYNNEX in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. SYNNEX currently has a consensus rating of Buy and a consensus price target of $145.38.

Shares of SYNNEX (NYSE SNX) opened at $113.46 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $4,800.01, a PE ratio of 15.13 and a beta of 0.93. SYNNEX has a twelve month low of $101.48 and a twelve month high of $141.94.

SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, January 9th. The business services provider reported $2.79 EPS for the quarter, beating the Zacks’ consensus estimate of $2.69 by $0.10. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $4.85 billion. SYNNEX had a return on equity of 16.43% and a net margin of 1.77%. The business’s quarterly revenue was up 36.7% on a year-over-year basis. During the same period last year, the firm earned $2.57 earnings per share. equities research analysts predict that SYNNEX will post 10.42 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 19th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.23%. This is a boost from SYNNEX’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, January 18th. SYNNEX’s payout ratio is 18.67%.

In related news, Director Andrea M. Zulberti sold 1,500 shares of SYNNEX stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $137.91, for a total value of $206,865.00. Following the completion of the transaction, the director now owns 13,922 shares in the company, valued at $1,919,983.02. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin M. Murai sold 2,000 shares of SYNNEX stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $128.81, for a total value of $257,620.00. Following the completion of the transaction, the chief executive officer now owns 144,125 shares of the company’s stock, valued at approximately $18,564,741.25. The disclosure for this sale can be found here. Insiders sold 1,270,900 shares of company stock worth $165,646,756 over the last ninety days. Insiders own 3.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNX. Victory Capital Management Inc. grew its position in SYNNEX by 189.1% in the third quarter. Victory Capital Management Inc. now owns 439,603 shares of the business services provider’s stock worth $55,614,000 after acquiring an additional 287,522 shares in the last quarter. Assenagon Asset Management S.A. grew its position in SYNNEX by 541.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 205,406 shares of the business services provider’s stock worth $27,925,000 after acquiring an additional 173,406 shares in the last quarter. Vanguard Group Inc. grew its position in SYNNEX by 2.3% in the second quarter. Vanguard Group Inc. now owns 3,221,813 shares of the business services provider’s stock worth $386,489,000 after acquiring an additional 71,317 shares in the last quarter. Russell Investments Group Ltd. grew its position in SYNNEX by 155.9% in the third quarter. Russell Investments Group Ltd. now owns 109,140 shares of the business services provider’s stock worth $13,808,000 after acquiring an additional 66,484 shares in the last quarter. Finally, Balyasny Asset Management LLC grew its position in SYNNEX by 1,565.3% in the second quarter. Balyasny Asset Management LLC now owns 70,257 shares of the business services provider’s stock worth $8,428,000 after acquiring an additional 66,038 shares in the last quarter. Institutional investors own 71.22% of the company’s stock.

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SYNNEX Company Profile

Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix.

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Analyst Recommendations for SYNNEX (NYSE:SNX)

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