Insider Selling: Peter Larocque Unloads 10,000 Shares of SYNNEX Stock (SNX)
SYNNEX (NYSE:SNX) Insider Peter Larocque sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $64.29, for a total value of $642,900.00. Following the transaction, the insider now directly owns 30,523 shares in the company, valued at approximately $1,962,324. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of SYNNEX (NYSE:SNX) traded down 0.09% during mid-day trading on Monday, hitting $64.30. 262,239 shares of the company’s stock traded hands. SYNNEX has a one year low of $46.87 and a one year high of $79.44. The stock’s 50-day moving average is $67.9 and its 200-day moving average is $63.92. The company has a market cap of $2.489 billion and a price-to-earnings ratio of 18.97.
SYNNEX (NYSE:SNX) last announced its earnings results on Wednesday, July 2nd. The company reported $1.52 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.81 earnings per share. SYNNEX’s revenue was up 33.3% compared to the same quarter last year. On average, analysts predict that SYNNEX will post $5.95 earnings per share for the current fiscal year.
SNX has been the subject of a number of recent research reports. 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. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $79.84.
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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