SYNNEX Co. (NYSE:SNX) shares were down 8.7% during trading on Wednesday after Barrington Research lowered their price target on the stock from $150.00 to $96.00. Barrington Research currently has an outperform rating on the stock. SYNNEX traded as low as $70.13 and last traded at $74.00, approximately 1,093,144 shares changed hands during trading. An increase of 151% from the average daily volume of 436,063 shares. The stock had previously closed at $81.06.
Other analysts also recently issued reports about the company. Cross Research downgraded SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research raised SYNNEX from a “hold” rating to a “strong-buy” rating and set a $153.00 target price for the company in a research report on Monday, January 13th. Citigroup raised their target price on SYNNEX from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Stifel Nicolaus raised their target price on SYNNEX from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, Raymond James decreased their target price on SYNNEX from $165.00 to $120.00 and set a “strong-buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $132.29.
In other news, Director Kevin M. Murai sold 2,500 shares of SYNNEX stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $105.09, for a total value of $262,725.00. Following the completion of the transaction, the director now directly owns 10,202 shares in the company, valued at $1,072,128.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin M. Murai sold 2,408 shares of SYNNEX stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $138.00, for a total value of $332,304.00. Following the completion of the transaction, the director now owns 7,863 shares of the company’s stock, valued at $1,085,094. The disclosure for this sale can be found here. Insiders sold 38,452 shares of company stock valued at $5,549,579 over the last three months. Company insiders own 2.80% of the company’s stock.
The company has a market cap of $3.83 billion, a P/E ratio of 7.61, a price-to-earnings-growth ratio of 0.51 and a beta of 1.05. The company has a 50 day moving average of $119.47 and a 200-day moving average of $121.11. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.62 and a quick ratio of 1.06.
SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, March 24th. The business services provider reported $3.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.08 by $0.18. The company had revenue of $5.26 billion during the quarter, compared to analyst estimates of $5.37 billion. SYNNEX had a return on equity of 18.84% and a net margin of 2.11%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $2.84 earnings per share. Research analysts anticipate that SYNNEX Co. will post 13.97 EPS for the current year.
About SYNNEX (NYSE:SNX)
SYNNEX Corporation provides business process services in the Americas, Asia-Pacific, Europe and Africa. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center servers and storage solutions; system components; software; networking, communications, and security equipment; consumer electronics; and complementary products.
Read More: Intrinsic Value
Receive News & Ratings for SYNNEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYNNEX and related companies with MarketBeat.com's FREE daily email newsletter.