Synnex (SNX) Reaches New Lifetime High Today

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.

Trade-Ideas LLC identified Synnex ( SNX) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Synnex 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 $12.2 million.
  • SNX has traded 1,052 shares today.
  • SNX is trading at a new lifetime high.

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More details on SNX:

SYNNEX Corporation provides business process services to resellers, retailers, and original equipment manufacturers in the United States, Japan, and internationally. It operates in two segments, Technology Solutions and Concentrix. The stock currently has a dividend yield of 0.6%. SNX has a PE ratio of 17. Currently there are 3 analysts that rate Synnex a buy, no analysts rate it a sell, and 2 rate it a hold.

The average volume for Synnex has been 239,300 shares per day over the past 30 days. Synnex has a market cap of $3.2 billion and is part of the services sector and diversified services industry. The stock has a beta of 1.71 and a short float of 12.9% with 17.32 days to cover. Shares are up 2.2% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Synnex as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, attractive valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company shows low profit margins.

Highlights from the ratings report include:
  • SNX's revenue growth has slightly outpaced the industry average of 0.1%. Since the same quarter one year prior, revenues slightly increased by 5.8%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 33.38% over the past year, a rise that has exceeded that of the S&P 500 Index. 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.
  • SYNNEX CORP has improved earnings per share by 16.0% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, SYNNEX CORP increased its bottom line by earning $4.58 versus $2.98 in the prior year. This year, the market expects an improvement in earnings ($6.70 versus $4.58).
  • Net operating cash flow has significantly increased by 694.47% to $208.18 million when compared to the same quarter last year. In addition, SYNNEX CORP has also vastly surpassed the industry average cash flow growth rate of -27.06%.

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