TD SYNNEX (NYSE:SNX) Stock Rating Upgraded by Zacks Research

TD SYNNEX (NYSE:SNX) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other brokerages also recently weighed in on SNX. The Goldman Sachs Group set a $330.00 target price on shares of TD SYNNEX in a report on Friday, June 26th. Royal Bank Of Canada set a $340.00 target price on TD SYNNEX in a research report on Friday, June 26th. Morgan Stanley boosted their price target on TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Barclays increased their price objective on shares of TD SYNNEX from $166.00 to $237.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Finally, Barrington Research boosted their target price on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, TD SYNNEX presently has an average rating of “Buy” and a consensus target price of $290.11.

TD SYNNEX Stock Performance

Shares of SNX opened at $261.60 on Tuesday. TD SYNNEX has a 52 week low of $134.31 and a 52 week high of $296.47. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 0.75 and a beta of 1.43. The business has a 50-day simple moving average of $252.94 and a two-hundred day simple moving average of $194.76.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.14 by $0.71. The company had revenue of $19.57 billion for the quarter, compared to analysts’ expectations of $16.80 billion. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The firm’s revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.99 EPS. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, analysts expect that TD SYNNEX will post 18.02 EPS for the current year.

Insider Buying and Selling

In other TD SYNNEX news, CFO David Gregory Jordan sold 3,225 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $189.46, for a total value of $611,008.50. Following the completion of the sale, the chief financial officer owned 14,035 shares of the company’s stock, valued at $2,659,071.10. This trade represents a 18.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $280.38, for a total transaction of $1,401,900.00. Following the completion of the sale, the director directly owned 23,537 shares of the company’s stock, valued at approximately $6,599,304.06. The trade was a 17.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 21,250 shares of company stock valued at $4,935,282. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently modified their holdings of the business. Dorato Capital Management bought a new stake in shares of TD SYNNEX during the 4th quarter worth approximately $27,000. Ossiam grew its position in TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in TD SYNNEX in the 4th quarter valued at $28,000. Measured Wealth Private Client Group LLC purchased a new stake in TD SYNNEX in the third quarter worth $30,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in TD SYNNEX in the fourth quarter worth $32,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Company Profile

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.