Synnex Stock Hits New 52-Week High (SNX)

NEW YORK ( TheStreet) -- Synnex Corporation (NYSE: SNX) hit a new 52-week high Friday as it is currently trading at $40.25, above its previous 52-week high of $39.97 with 223,186 shares traded as of 12:29 p.m. ET. Average volume has been 241,100 shares over the past 30 days.

Synnex has a market cap of $1.32 billion and is part of the services sector and diversified services industry. Shares are up 30.4% year to date as of the close of trading on Thursday.

SYNNEX Corporation provides distribution and business process outsourcing (BPO) services to resellers, retailers, and original equipment manufacturers (OEMs) worldwide. The company operates in two segments, Distribution Services and Global Business Services (GBS). The company has a P/E ratio of 9.7, above the average diversified services industry P/E ratio of 8.8 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Synnex as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Synnex Ratings Report.

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