TD SYNNEX (NYSE:SNX) Raised to Strong-Buy at Zacks Research

TD SYNNEX (NYSE:SNX) was upgraded by stock analysts at 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.

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

TD SYNNEX Trading Down 2.1%

Shares of SNX stock opened at $261.60 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20. TD SYNNEX has a 52-week low of $134.31 and a 52-week high of $296.47. The company has a market capitalization of $21.03 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 0.75 and a beta of 1.43. The business’s fifty day moving average is $252.94 and its 200 day moving average is $194.76.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The company had revenue of $19.57 billion during the quarter, compared to analyst estimates of $16.80 billion. During the same quarter last year, the company earned $2.99 earnings per share. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, equities research analysts anticipate that TD SYNNEX will post 18.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Miriam Anne Murphy sold 3,025 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $200.14, for a total transaction of $605,423.50. Following the transaction, the insider directly owned 10,820 shares in the company, valued at $2,165,514.80. This trade represents a 21.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Gregory Jordan sold 3,225 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $189.46, for a total value of $611,008.50. Following the sale, the chief financial officer directly owned 14,035 shares of the company’s stock, valued at approximately $2,659,071.10. This trade represents a 18.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,250 shares of company stock valued at $4,935,282 over the last quarter. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in TD SYNNEX during the 4th quarter valued at $148,559,000. Alyeska Investment Group L.P. bought a new stake in TD SYNNEX in the 3rd quarter worth $135,631,000. AQR Capital Management LLC increased its position in shares of TD SYNNEX by 141.8% in the fourth quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider’s stock valued at $140,431,000 after acquiring an additional 548,180 shares during the period. Victory Capital Management Inc. raised its stake in shares of TD SYNNEX by 123.6% during the third quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider’s stock valued at $119,263,000 after acquiring an additional 402,573 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of TD SYNNEX during the fourth quarter valued at about $60,104,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

About TD SYNNEX

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.