SYNNEX Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:SNX)
SYNNEX (NYSE:SNX) has earned an average recommendation of “Buy” from the ten brokerages that are presently covering the stock, AnalystRatings.Net reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $79.84.
SYNNEX (NYSE:SNX) opened at 62.65 on Tuesday. SYNNEX has a 52 week low of $46.84 and a 52 week high of $79.44. The stock’s 50-day moving average is $68.32 and its 200-day moving average is $63.85. The company has a market cap of $2.425 billion and a price-to-earnings ratio of 18.87.
SYNNEX (NYSE:SNX) last released its earnings data on Wednesday, July 2nd. The company reported $1.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.36 by $0.16. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. The company’s quarterly revenue was up 33.3% on a year-over-year basis. Analysts expect that SYNNEX will post $5.95 EPS for the current fiscal year.
In other SYNNEX news, Director Gregory L. Quesnel sold 18,288 shares of the stock on the open market in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $67.68, for a total value of $1,237,731.84. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on SNX shares. Analysts at Needham & Company LLC raised their price target on shares of SYNNEX from $74.00 to $78.00 in a research note on Thursday, July 3rd. They now have a “buy” rating on the stock. Separately, analysts at Bank of America reiterated a “buy” rating on shares of SYNNEX in a research note on Thursday, July 3rd. They now have a $85.00 price target on the stock, up previously from $80.00. Finally, analysts at Credit Agricole upgraded shares of SYNNEX from an “outperform” rating to a “buy” rating in a research note on Wednesday, May 21st.
Synnex Corporation is a business process services company. The Company provides services to resellers, retailers and original equipment manufacturers (NYSE:SNX), in multiple regions around the world.
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