Is Buying 52-Week Stock Like SYNNEX Corporation (SNX) a Winning Strategy?

Modesto Morganelli
Ottobre 18, 2017

News stories about Synnex Corporation (NYSE:SNX) have trended somewhat positive on Wednesday, Accern Sentiment Analysis reports. 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 last quarter. That brings Polk's holdings to $2,723,001 as recorded in a recent Form 4 SEC filing.

The company is trading up from yesterday's close of 131.25. Synnex Corporation posted sales of $3.67 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.3%. As of the end of the quarter Orrstown Financial Services Inc had bought 75 shares growing its stake by 375.0%. SYNNEX Corporation's EPS is 7.37. BNP Paribas Arbitrage SA now owns 15,300 shares of the business services provider's stock worth $1,835,000 after buying an additional 8,531 shares during the last quarter. This repurchase authorization authorizes the business services provider to buy up to 6.2% of its stock through open market purchases. Wellington Management Group LLP now owns 180,354 shares of the business services provider's stock valued at $20,188,000 after buying an additional 10,770 shares during the period. The average true range is typically based on 14 periods and may be calculated daily, weekly, monthly, or intraday. The stock has a 50 day moving average price of $121.03 and a 200 day moving average price of $116.04. Synnex Corporation has a one year low of $100.06 and a one year high of $134.51. The stock has a market cap of $4.64 billion, a P/E ratio of 16.67 and a beta of 1.05.

Synnex Corporation (NYSE:SNX) last issued its quarterly earnings data on Monday, September 25th. With short interest at 616,444 and short average daily volume at 324,912, days to cover is 2.0 and the percentage of shorted shares was 0.02% on September 29. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.79 billion. Next quarter's EPS is forecasted at $2.10 with next year's EPS anticipated to be $9.65. The 1-year high was reported on Oct, 16 by Barchart.com. The value of the company's investment in Synnex Corporation increased from $77,000 to $86,000 a change of 11.7% quarter over quarter. This represents a $1.20 annualized dividend and a dividend yield of 0.91%.

On 3/28/2017 Synnex Corporation announced a quarterly dividend of $0.25 0.89% with an ex dividend date of 4/11/2017 which will be payable on 4/28/2017. Synnex Corporation's dividend payout ratio (DPR) is presently 16.28%. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

In other news, CEO Kevin M. Murai sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $126.00, for a total transaction of $315,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Dennis Polk sold 1,500 shares of the business's stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $127.09, for a total value of $38,127.00. Following the sale, the insider now directly owns 14,958 shares in the company, valued at approximately $1,781,198.64. The disclosure for this sale can be found here.

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A number of analysts have weighed in on the company.

Pivotal Research started coverage setting a rating of "Hold".

Today, Stifel Nicolaus reiterated its Buy rating on Synnex Corporation (NYSE:SNX) with a price target of $132.00. Finally, BidaskClub lowered Synnex Corporation from a "hold" rating to a "sell" rating in a research report on Monday, August 14th. If the $140.30 price target is reached, the company will be worth $317.40 million more. Citigroup Inc. increased their price objective on Synnex Corporation from $122.00 to $130.00 and gave the company a "neutral" rating in a research report on Tuesday, September 26th. Zacks upgraded the shares of SNX in report on Thursday, August 27 to "Hold" rating. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company.

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