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Trade-Ideas: Synnex Corporation (SNX) Is Today's New Lifetime High Stock

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Synnex Corporation ( SNX) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Synnex Corporation as such a stock due to the following factors:

  • SNX has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $19.3 million.
  • SNX has traded 148,834 shares today.
  • SNX is trading at a new lifetime high.

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More details on SNX:

SYNNEX Corporation provides distribution and business process outsourcing (BPO) services to resellers, retailers, and original equipment manufacturers (OEMs) primarily in North America. The company operates in two segments, Distribution Services and Global Business Services (GBS). SNX has a PE ratio of 16.0. Currently there are 3 analysts that rate Synnex Corporation a buy, 1 analyst rates it a sell, and 3 rate it a hold.

The average volume for Synnex Corporation has been 232,700 shares per day over the past 30 days. Synnex has a market cap of $2.3 billion and is part of the services sector and diversified services industry. The stock has a beta of 1.41 and a short float of 5.4% with 3.74 days to cover. Shares are up 77.1% year to date as of the close of trading on Thursday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Synnex Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.

Highlights from the ratings report include:

  • SNX's revenue growth has slightly outpaced the industry average of 4.8%. Since the same quarter one year prior, revenues slightly increased by 4.4%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • SNX's debt-to-equity ratio is very low at 0.22 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.06, which illustrates the ability to avoid short-term cash problems.
  • Compared to its closing price of one year ago, SNX's share price has jumped by 69.66%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, SNX should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • Net operating cash flow has slightly increased to $50.57 million or 4.93% when compared to the same quarter last year. In addition, SYNNEX CORP has also modestly surpassed the industry average cash flow growth rate of 0.02%.

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