Recent Investment Analysts’ Ratings Updates for SYNNEX (SNX)

A number of firms have modified their ratings and price targets on shares of SYNNEX (NYSE: SNX) recently:

  • 1/29/2019 – SYNNEX was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 1/28/2019 – SYNNEX was upgraded by analysts at Citigroup Inc from a “neutral” rating to a “buy” rating. They now have a $97.02 price target on the stock.
  • 1/25/2019 – SYNNEX was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 1/17/2019 – SYNNEX was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 1/11/2019 – SYNNEX was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 1/11/2019 – SYNNEX was upgraded by analysts at Cross Research from a “hold” rating to a “buy” rating.
  • 12/13/2018 – SYNNEX was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $90.00 price target on the stock. According to Zacks, “SYNNEX Corporation, a business process services company, provides business-to-business services that help their customers and business partners grow and enhance their customer-engagement strategies. Headquartered in Fremont, CA, and with operations in more than 30 countries, SYNNEX is an industry leader in IT distribution and customer care outsourced services, operating in two business segments: Technology Solutions and Concentrix. SYNNEX brings the most relevant technology solutions to the IT and consumer electronics markets to help their partners sustainably grow their business. With more than 100,000 associates operating in 25 countries and with fluency in over 40 languages, their Concentrix division delivers high-value business services and solutions for the customer-relationship lifecycle to more than 450 clients. SYNNEX is listed on the New York Stock Exchange (NYSE: SNX) and was ranked 198 on the 2017 Fortune 500. “

Shares of SNX opened at $98.54 on Wednesday. The company has a market cap of $5.05 billion, a P/E ratio of 9.05 and a beta of 0.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.94 and a current ratio of 1.45. SYNNEX Co. has a twelve month low of $71.82 and a twelve month high of $129.01.

SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, January 10th. The business services provider reported $3.65 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.40. SYNNEX had a net margin of 1.50% and a return on equity of 17.54%. The firm had revenue of $5.62 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the firm earned $2.79 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts predict that SYNNEX Co. will post 11.81 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 31st. Stockholders of record on Tuesday, January 22nd were given a $0.375 dividend. This is a positive change from SYNNEX’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, January 18th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.52%. SYNNEX’s dividend payout ratio (DPR) is currently 13.77%.

In other news, Director Andrea M. Zulberti sold 2,416 shares of the firm’s stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $90.45, for a total value of $218,527.20. Following the sale, the director now owns 14,717 shares in the company, valued at $1,331,152.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Marshall Witt sold 600 shares of SYNNEX stock in a transaction on Friday, February 1st. The stock was sold at an average price of $96.41, for a total transaction of $57,846.00. Following the sale, the chief financial officer now owns 18,293 shares in the company, valued at approximately $1,763,628.13. The disclosure for this sale can be found here. In the last three months, insiders sold 4,216 shares of company stock worth $373,237. Insiders own 3.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its stake in SYNNEX by 1.5% during the third quarter. FMR LLC now owns 5,944,225 shares of the business services provider’s stock worth $503,475,000 after buying an additional 89,828 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of SYNNEX by 2.5% during the third quarter. BlackRock Inc. now owns 3,777,636 shares of the business services provider’s stock valued at $319,967,000 after acquiring an additional 92,689 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of SYNNEX by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,775,137 shares of the business services provider’s stock valued at $150,356,000 after acquiring an additional 21,468 shares during the period. LSV Asset Management lifted its holdings in shares of SYNNEX by 1,793.4% during the fourth quarter. LSV Asset Management now owns 622,916 shares of the business services provider’s stock valued at $50,356,000 after acquiring an additional 590,016 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of SYNNEX by 5,254,911.1% during the fourth quarter. Victory Capital Management Inc. now owns 472,951 shares of the business services provider’s stock valued at $38,233,000 after acquiring an additional 472,942 shares during the period. Hedge funds and other institutional investors own 58.06% of the company’s stock.

SYNNEX Corporation provides business process services in North and South America, the Asia-Pacific, Europe, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking/communications/security equipment; consumer electronics; and complementary products.

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