SYNNEX Corporation [SNX] moved down -52.58: Why It’s Important

SYNNEX Corporation [NYSE: SNX] closed the trading session at $76.02 on 12/01/20. The day’s price range saw the stock hit a low of $75.50, while the highest price level was $83.40. The company report on December 1, 2020 that Concentrix Completes Spin-Off from SYNNEX, Debuts on the NASDAQ as Independent, Publicly Traded Company.

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Concentrix Corporation (NASDAQ: CNXC), a leading global provider of customer experience (CX) solutions and technology, announced that it has completed its separation from SYNNEX Corporation (NYSE: SNX) and is now an independent, publicly traded company listed on the NASDAQ stock market under the ticker symbol “CNXC”.

“As a leading global provider of CX solutions and technology, we are truly excited to celebrate our listing day and start this next exciting chapter,” said Chris Caldwell, President and CEO of Concentrix. “Operating as an independent company will allow us to accelerate innovations and make additional investments that drive higher value for our clients, their customers, and our shareholders.”.

The stocks have a year to date performance of -40.98 percent and weekly performance of -51.49 percent. The stock has been moved at -31.84 percent over the last six months. The stock has performed -42.25 percent around the most recent 30 days and changed -40.55 percent over the most recent 3-months.

If compared to the average trading volume of 350.70K shares, SNX reached to a volume of 2434187 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about SYNNEX Corporation [SNX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SNX shares is $166.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SNX stock is a recommendation set at 1.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cross Research have made an estimate for SYNNEX Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 30, 2020. While these analysts kept the previous recommendation, Barrington Research dropped their target price from $96 to $115. The new note on the price target was released on May 27, 2020, representing the official price target for SYNNEX Corporation stock.

The Average True Range (ATR) for SYNNEX Corporation is set at 10.62, with the Price to Sales ratio for SNX stock in the period of the last 12 months amounting to 0.16. The Price to Book ratio for the last quarter was 0.95. Price to Free Cash Flow for SNX in the course of the last twelve months was 2.81 with Quick ratio for the last quarter at 1.00.

SNX stock trade performance evaluation

SYNNEX Corporation [SNX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -51.49. With this latest performance, SNX shares dropped by -42.25% in over the last four-week period, additionally sinking by -31.84% over the last 6 months – not to mention a drop of -38.31% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SNX stock in for the last two-week period is set at 18.38, with the RSI for the last a single of trading hit 13.43, and the three-weeks RSI is set at 23.45 for SYNNEX Corporation [SNX]. The present Moving Average for the last 50 days of trading for this stock 144.53, while it was recorded at 144.98 for the last single week of trading, and 116.80 for the last 200 days.

SYNNEX Corporation [SNX]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and SYNNEX Corporation [SNX] shares currently have an operating margin of +3.62 and a Gross Margin at +11.24. SYNNEX Corporation’s Net Margin is presently recorded at +2.09.

Return on Total Capital for SNX is now 12.57, given the latest momentum, and Return on Invested Capital for the company is 7.90. Return on Equity for this stock inclined to 13.74, with Return on Assets sitting at 4.28. When it comes to the capital structure of this company, SYNNEX Corporation [SNX] has a Total Debt to Total Equity ratio set at 79.64. Additionally, SNX Total Debt to Total Capital is recorded at 44.33, with Total Debt to Total Assets ending up at 25.79. Long-Term Debt to Equity for the company is recorded at 71.75, with the Long-Term Debt to Total Capital now at 39.94.

Reflecting on the efficiency of the workforce at the company, SYNNEX Corporation [SNX] managed to generate an average of $2,111 per employee. Receivables Turnover for the company is 5.83 with a Total Asset Turnover recorded at a value of 2.05.SYNNEX Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.50.

Earnings per share (EPS) analysis for SYNNEX Corporation [SNX] stock

With the latest financial reports released by the company, SYNNEX Corporation posted 4.26/share EPS, while the average EPS was predicted by analysts to be reported at 3.61/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 18.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SNX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for SYNNEX Corporation go to 8.85%.

SYNNEX Corporation [SNX]: Insider Ownership positions

There are presently around $3,011 million, or 78.50% of SNX stock, in the hands of institutional investors. The top three institutional holders of SNX stocks are: FMR LLC with ownership of 5,220,999, which is approximately -17.736% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 3,851,174 shares of the stock with an approximate value of $292.77 million in SNX stocks shares; and BLACKROCK INC., currently with $257.49 million in SNX stock with ownership of nearly -4.259% of the company’s market capitalization.

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Positions in SYNNEX Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 154 institutional holders increased their position in SYNNEX Corporation [NYSE:SNX] by around 4,302,317 shares. Additionally, 166 investors decreased positions by around 4,248,489 shares, while 56 investors held positions by with 31,054,713 shares. The mentioned changes placed institutional holdings at 39,605,519 shares, according to the latest SEC report filing. SNX stock had 55 new institutional investments in for a total of 2,044,364 shares, while 39 institutional investors sold positions of 308,890 shares during the same period.

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