Equities research analysts at SunTrust Banks began coverage on shares of Synnex (NYSE:SNX) in a note issued to investors on Thursday, The Fly reports. The brokerage set a “buy” rating on the business services provider’s stock.

Several other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of Synnex from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research report on Thursday, September 21st. Pivotal Research started coverage on shares of Synnex in a research report on Friday, October 6th. They set a “hold” rating and a $137.00 target price on the stock. ValuEngine downgraded shares of Synnex from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Needham & Company LLC restated a “buy” rating and set a $135.00 price target on shares of Synnex in a report on Monday, September 18th. Finally, Stifel Nicolaus restated a “buy” rating and set a $132.00 price target on shares of Synnex in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Synnex has an average rating of “Buy” and an average target price of $135.13.

Synnex (SNX) opened at $130.68 on Thursday. Synnex has a one year low of $101.48 and a one year high of $137.80. The company has a quick ratio of 0.80, a current ratio of 1.61 and a debt-to-equity ratio of 0.25. The firm has a market cap of $5,302.18, a price-to-earnings ratio of 15.37 and a beta of 1.08.

Synnex (NYSE:SNX) last posted its quarterly earnings results on Monday, September 25th. The business services provider reported $2.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.19. Synnex had a net margin of 1.89% and a return on equity of 16.58%. The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4 billion. During the same period in the prior year, the business posted $1.73 earnings per share. Synnex’s revenue for the quarter was up 16.5% compared to the same quarter last year. research analysts predict that Synnex will post 8.79 EPS for the current fiscal year.

In other news, CEO Kevin M. Murai sold 2,000 shares of Synnex stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $113.66, for a total transaction of $227,320.00. Following the transaction, the chief executive officer now directly owns 142,311 shares of the company’s stock, valued at $16,175,068.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 300 shares of Synnex stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $127.09, for a total transaction of $38,127.00. Following the transaction, the chief financial officer now directly owns 20,200 shares in the company, valued at $2,567,218. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,721 shares of company stock valued at $1,629,475. Company insiders own 3.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Advisor Group Inc. boosted its holdings in Synnex by 50.1% in the 2nd quarter. Advisor Group Inc. now owns 929 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 310 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Synnex by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the business services provider’s stock worth $135,000 after purchasing an additional 96 shares in the last quarter. Opus Capital Group LLC acquired a new position in Synnex during the 2nd quarter worth approximately $219,000. Affinity Wealth Management increased its position in Synnex by 1.9% during the 2nd quarter. Affinity Wealth Management now owns 1,869 shares of the business services provider’s stock worth $224,000 after purchasing an additional 34 shares in the last quarter. Finally, Shelton Capital Management acquired a new position in Synnex during the 2nd quarter worth approximately $246,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

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Synnex Company Profile

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.

The Fly

Analyst Recommendations for Synnex (NYSE:SNX)

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