A number of research firms have changed their ratings and price targets for Synnex Corporation (NYSE: SNX):

  • 10/6/2017 – Synnex Corporation is now covered by analysts at Pivotal Research. They set a “hold” rating and a $137.00 price target on the stock.
  • 10/2/2017 – Synnex Corporation was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/26/2017 – Synnex Corporation had its price target raised by analysts at Needham & Company LLC from $135.00 to $145.00. They now have a “buy” rating on the stock.
  • 9/26/2017 – Synnex Corporation had its price target raised by analysts at Citigroup Inc. from $122.00 to $130.00. They now have a “neutral” rating on the stock.
  • 9/26/2017 – Synnex Corporation had its price target raised by analysts at Loop Capital from $140.00 to $150.00. They now have a “buy” rating on the stock.
  • 9/21/2017 – Synnex Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $131.00 price target on the stock. According to Zacks, “Synnex Corp is a global IT supply chain services company offering a comprehensive range of services to original equipment manufacturers and software publishers, or (OEMs), and reseller customers worldwide. The company offers product distribution, related logistics services and contract assembly. SYNNEX distributes IT systems, peripherals, system components, software and networking equipment for OEM suppliers such as HP, IBM, Intel, Microsoft Corporation and Seagate. “
  • 9/18/2017 – Synnex Corporation had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $135.00 price target on the stock.
  • 9/6/2017 – Synnex Corporation was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/24/2017 – Synnex Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Synnex Corp is a global IT supply chain services company offering a comprehensive range of services to original equipment manufacturers and software publishers, or (OEMs), and reseller customers worldwide. The company offers product distribution, related logistics services and contract assembly. SYNNEX distributes IT systems, peripherals, system components, software and networking equipment for OEM suppliers such as HP, IBM, Intel, Microsoft Corporation and Seagate. “
  • 8/24/2017 – Synnex Corporation is now covered by analysts at Loop Capital. They set a “buy” rating and a $140.00 price target on the stock.
  • 8/14/2017 – Synnex Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Shares of Synnex Corporation (SNX) traded down 0.06% during mid-day trading on Thursday, reaching $132.41. 43,481 shares of the company’s stock were exchanged. The stock has a market cap of $5.29 billion, a PE ratio of 17.97 and a beta of 1.08. The company has a 50 day moving average price of $119.86 and a 200-day moving average price of $115.76. Synnex Corporation has a one year low of $100.06 and a one year high of $133.26.

Synnex Corporation (NYSE:SNX) last released its quarterly earnings data on Monday, September 25th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.19. Synnex Corporation had a net margin of 1.89% and a return on equity of 16.58%. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the company earned $1.73 earnings per share. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, analysts predict that Synnex Corporation will post $8.76 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be given a $0.30 dividend. This is a boost from Synnex Corporation’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.90%. Synnex Corporation’s payout ratio is presently 13.57%.

In other Synnex Corporation news, CFO Marshall Witt sold 300 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $127.09, for a total value of $38,127.00. Following the transaction, the chief financial officer now owns 20,200 shares in the company, valued at $2,567,218. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Simon Leung sold 759 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $119.77, for a total transaction of $90,905.43. Following the completion of the transaction, the senior vice president now owns 25,053 shares in the company, valued at approximately $3,000,597.81. The disclosure for this sale can be found here. Insiders sold 14,796 shares of company stock worth $1,776,239 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

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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