Synnex Corporation (NYSE:SNX)‘s stock had its “buy” rating restated by equities researchers at Stifel Nicolaus in a note issued to investors on Tuesday. They presently have a $132.00 price objective on the business services provider’s stock. Stifel Nicolaus’ target price indicates a potential downside of 0.07% from the company’s current price.

Several other research firms have also recently commented on SNX. ValuEngine cut shares of Synnex Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. BidaskClub cut shares of Synnex Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Needham & Company LLC reissued a “buy” rating and set a $135.00 target price on shares of Synnex Corporation in a research report on Monday, September 18th. Citigroup Inc. lifted their target price on shares of Synnex Corporation from $122.00 to $130.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 26th. Finally, Loop Capital lifted their target price on shares of Synnex Corporation from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $135.13.

Synnex Corporation (SNX) opened at 132.09 on Tuesday. The firm has a market cap of $5.28 billion, a P/E ratio of 17.92 and a beta of 1.08. The firm’s 50-day moving average price is $122.22 and its 200-day moving average price is $116.45. Synnex Corporation has a 12 month low of $100.06 and a 12 month high of $133.44.

Synnex Corporation (NYSE:SNX) last posted its earnings results on Monday, September 25th. The business services provider reported $2.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 last year, the firm earned $1.73 EPS. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, equities research analysts expect that Synnex Corporation will post $8.76 EPS for the current fiscal year.

Synnex Corporation announced that its board has approved a share repurchase program on Thursday, June 22nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Daily Political and is owned by of Daily Political. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://www.dailypolitical.com/2017/10/18/synnex-corporation-snx-stock-rating-reaffirmed-by-stifel-nicolaus.html.

In related news, SVP Simon Leung sold 759 shares of Synnex Corporation stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $119.77, for a total value of $90,905.43. Following the sale, the senior vice president now owns 25,053 shares of the company’s stock, valued at approximately $3,000,597.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin M. Murai sold 2,000 shares of Synnex Corporation stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $130.37, for a total transaction of $260,740.00. The disclosure for this sale can be found here. Insiders sold a total of 16,796 shares of company stock worth $2,036,979 in the last ninety days. 3.20% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of SNX. Advisor Group Inc. raised its holdings in shares of Synnex Corporation by 50.1% in the 2nd quarter. Advisor Group Inc. now owns 929 shares of the business services provider’s stock worth $112,000 after purchasing an additional 310 shares during the period. US Bancorp DE raised its holdings in shares of Synnex Corporation by 34.3% in the 1st quarter. US Bancorp DE now owns 1,112 shares of the business services provider’s stock worth $124,000 after purchasing an additional 284 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Synnex Corporation by 9.4% in 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 during the period. PNC Financial Services Group Inc. grew its stake in Synnex Corporation by 8.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,310 shares of the business services provider’s stock valued at $147,000 after buying an additional 106 shares in the last quarter. Finally, Invictus RG purchased a new position in Synnex Corporation in the 1st quarter valued at approximately $196,000. 71.23% of the stock is currently owned by institutional investors.

About Synnex Corporation

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.

Analyst Recommendations for Synnex Corporation (NYSE:SNX)

Receive News & Ratings for Synnex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synnex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.