Synnex (NYSE:SNX) Now Covered by Analysts at SunTrust Banks

SunTrust Banks started coverage on shares of Synnex (NYSE:SNX) in a research note released on Thursday, December 7th, Marketbeat reports. The firm issued a buy rating and a $145.00 price objective on the business services provider’s stock.

Other analysts have also issued reports about the stock. BidaskClub lowered shares of Synnex from a hold rating to a sell rating in a research report on Monday, August 14th. Needham & Company LLC reiterated a buy rating and issued a $135.00 price target on shares of Synnex in a research report on Monday, September 18th. ValuEngine lowered shares of Synnex from a buy rating to a hold rating in a research report on Wednesday, September 6th. Loop Capital began coverage on shares of Synnex in a research report on Thursday, August 24th. They issued a buy rating and a $140.00 price target on the stock. Finally, Citigroup increased their price target on shares of Synnex from $122.00 to $130.00 and gave the company a neutral rating in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $136.22.

Synnex (NYSE:SNX) traded up $1.26 during mid-day trading on Thursday, hitting $137.21. 299,184 shares of the stock traded hands, compared to its average volume of 198,400. The firm has a market capitalization of $5,433.26, a price-to-earnings ratio of 18.62 and a beta of 1.08. Synnex has a twelve month low of $101.48 and a twelve month high of $138.38. The company has a quick ratio of 0.80, a current ratio of 1.61 and a debt-to-equity ratio of 0.25.

In other Synnex news, CEO Kevin M. Murai sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $130.37, for a total transaction of $260,740.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Dennis Polk sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $134.91, for a total transaction of $202,365.00. Following the transaction, the chief operating officer now directly owns 21,874 shares in the company, valued at approximately $2,951,021.34. The disclosure for this sale can be found here. Insiders have sold 9,600 shares of company stock worth $1,270,161 in the last three months. Insiders own 3.20% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. FMR LLC raised its stake in Synnex by 5.7% during the second quarter. FMR LLC now owns 5,587,157 shares of the business services provider’s stock worth $670,236,000 after purchasing an additional 302,301 shares during the period. Vanguard Group Inc. raised its stake in Synnex by 2.3% during the second quarter. Vanguard Group Inc. now owns 3,221,813 shares of the business services provider’s stock worth $386,489,000 after purchasing an additional 71,317 shares during the period. Goldman Sachs Group Inc. raised its stake in Synnex by 13.3% during the second quarter. Goldman Sachs Group Inc. now owns 1,315,521 shares of the business services provider’s stock worth $157,810,000 after purchasing an additional 154,174 shares during the period. State Street Corp raised its stake in Synnex by 3.8% during the second quarter. State Street Corp now owns 993,336 shares of the business services provider’s stock worth $119,164,000 after purchasing an additional 36,210 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Synnex by 189.1% during the third quarter. Victory Capital Management Inc. now owns 439,603 shares of the business services provider’s stock worth $55,614,000 after purchasing an additional 287,522 shares during the period. 71.68% of the stock is currently owned by institutional investors.

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About Synnex

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 (NYSE:SNX)

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