SYNNEX Corp. Now Covered by Analysts at Ned Davis Research (SNX)
Ned Davis Research began coverage on shares of SYNNEX Corp. (NYSE:SNX) in a research note issued on Monday, Analyst Ratings Network.com reports. The firm set a “neutral” rating on the stock.
In other SYNNEX Corp. news, major shareholder Star Developments Ltd Silver sold 13,822 shares of the stock on the open market in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $62.09, for a total value of $858,207.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of SYNNEX Corp. (NYSE:SNX) traded down 0.70% during mid-day trading on Monday, hitting $61.43. 117,221 shares of the company’s stock traded hands. SYNNEX Corp. has a one year low of $30.70 and a one year high of $64.50. The stock has a 50-day moving average of $55.09 and a 200-day moving average of $44.63. The company has a market cap of $2.271 billion and a P/E ratio of 19.85.
SYNNEX Corp. (NYSE:SNX) last announced its earnings results on Wednesday, September 25th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.29. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis.
SNX has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of SYNNEX Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, September 30th. They now have a $64.00 price target on the stock. Separately, analysts at Brean Capital raised their price target on shares of SYNNEX Corp. from $46.00 to $72.00 in a research note to investors on Friday, September 27th. They now have a “buy” rating on the stock. Finally, analysts at Bank of America Corp. initiated coverage on shares of SYNNEX Corp. in a research note to investors on Friday, September 13th. They set a “buy” rating and a $64.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $59.00.
Synnex Corporation provides services to resellers, retailers and original equipment manufacturers (NYSE:SNX), in multiple regions around the world.
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