Synnex (SNX) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Synnex (NYSE:SNX) in a research note published on Monday morning, MarketBeat reports. Needham & Company LLC currently has a $135.00 price objective on the business services provider’s stock, down from their prior price objective of $151.00. The analysts noted that the move was a valuation call.

A number of other research analysts have also recently weighed in on the stock. Stifel Nicolaus reissued a hold rating and set a $140.00 price objective (down from $152.00) on shares of Synnex in a research note on Monday. Pivotal Research set a $135.00 target price on shares of Synnex and gave the stock a buy rating in a research note on Monday. Zacks Investment Research cut shares of Synnex from a buy rating to a hold rating in a research note on Wednesday, March 14th. ValuEngine cut shares of Synnex from a buy rating to a hold rating in a research note on Friday, February 2nd. Finally, Loop Capital lifted their target price on shares of Synnex from $1.00 to $160.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Synnex has an average rating of Buy and an average price target of $140.63.

How to Become a New Pot Stock Millionaire

Shares of SNX opened at $97.87 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 0.89. Synnex has a 1-year low of $96.01 and a 1-year high of $141.94. The company has a market cap of $3,928.75, a PE ratio of 11.05 and a beta of 0.97.

Synnex (NYSE:SNX) last issued its quarterly earnings data on Thursday, March 29th. The business services provider reported $2.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.03. Synnex had a net margin of 1.46% and a return on equity of 16.52%. The business had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same period last year, the company posted $1.82 EPS. The company’s revenue was up 29.3% on a year-over-year basis. sell-side analysts expect that Synnex will post 10.26 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 13th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.40 annualized dividend and a yield of 1.43%. Synnex’s payout ratio is currently 15.80%.

In other Synnex news, Director Matthew Miau sold 500 shares of Synnex stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $97.95, for a total value of $48,975.00. Following the transaction, the director now owns 375,357 shares in the company, valued at approximately $36,766,218.15. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dennis Polk sold 2,000 shares of Synnex stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $100.09, for a total transaction of $200,180.00. The disclosure for this sale can be found here. Insiders sold a total of 1,271,900 shares of company stock valued at $165,625,452 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Synnex by 8.1% in the 4th quarter. BlackRock Inc. now owns 3,582,707 shares of the business services provider’s stock valued at $487,070,000 after purchasing an additional 269,430 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Synnex by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 381,398 shares of the business services provider’s stock valued at $51,851,000 after purchasing an additional 4,546 shares during the last quarter. Boston Partners boosted its holdings in shares of Synnex by 10.2% in the 4th quarter. Boston Partners now owns 292,768 shares of the business services provider’s stock valued at $39,802,000 after purchasing an additional 26,991 shares during the last quarter. Mawer Investment Management Ltd. lifted its holdings in shares of Synnex by 143.2% during the 4th quarter. Mawer Investment Management Ltd. now owns 271,600 shares of the business services provider’s stock valued at $36,924,000 after acquiring an additional 159,900 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Synnex by 4.2% during the 4th quarter. Teachers Advisors LLC now owns 270,609 shares of the business services provider’s stock valued at $36,789,000 after acquiring an additional 10,866 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This story was first reported by Ticker Report and is owned by of Ticker Report. If you are accessing this story on another domain, it was illegally stolen and republished in violation of United States & international trademark & copyright laws. The original version of this story can be accessed at https://www.tickerreport.com/banking-finance/3334624/synnex-snx-stock-rating-reaffirmed-by-needham-company-llc.html.

About Synnex

SYNNEX Corporation provides business process services in North and South America, the Asia-Pacific, Europe, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking/communications/security equipment; consumer electronics; and complementary products.

Analyst Recommendations for Synnex (NYSE:SNX)

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

Latest News

Continental  Given a €236.00 Price Target by Independent Research Analysts
Continental Given a €236.00 Price Target by Independent Research Analysts
MedEquities Realty Trust  to Post FY2018 Earnings of $1.20 Per Share, KeyCorp Forecasts
MedEquities Realty Trust to Post FY2018 Earnings of $1.20 Per Share, KeyCorp Forecasts
Oasis Petroleum  to Post FY2018 Earnings of $0.47 Per Share, Piper Jaffray Forecasts
Oasis Petroleum to Post FY2018 Earnings of $0.47 Per Share, Piper Jaffray Forecasts
Research Analysts Issue Forecasts for Idacorp’s FY2018 Earnings
Research Analysts Issue Forecasts for Idacorp’s FY2018 Earnings
FY2018 EPS Estimates for Callon Petroleum  Lifted by Analyst
FY2018 EPS Estimates for Callon Petroleum Lifted by Analyst
Equities Analysts Offer Predictions for CBL & Associates Properties, Inc.’s FY2018 Earnings
Equities Analysts Offer Predictions for CBL & Associates Properties, Inc.’s FY2018 Earnings


Leave a Reply

© 2006-2018 Ticker Report. Google+.