TD SYNNEX (NYSE:SNX) Lowered to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of TD SYNNEX (NYSE:SNX) from a strong-buy rating to a hold rating in a report published on Tuesday morning,Zacks.com reports.

A number of other research analysts also recently weighed in on the company. UBS Group raised their price target on TD SYNNEX from $310.00 to $352.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Barclays upped their price objective on TD SYNNEX from $237.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 2nd. Barrington Research increased their price objective on TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 26th. JPMorgan Chase & Co. raised shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 target price for the company in a research note on Wednesday, May 27th. Finally, Weiss Ratings downgraded shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 17th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $294.67.

TD SYNNEX Trading Up 1.7%

TD SYNNEX stock opened at $255.77 on Tuesday. The company has a market cap of $20.45 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 0.71 and a beta of 1.44. The firm has a 50-day moving average of $255.96 and a 200-day moving average of $222.13. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 0.64. TD SYNNEX has a one year low of $142.22 and a one year high of $296.47.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The business had revenue of $19.57 billion for the quarter, compared to the consensus estimate of $16.80 billion. During the same quarter in the previous year, the business earned $2.99 earnings per share. TD SYNNEX’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 analysts expect that TD SYNNEX will post 18.01 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, July 17th. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. TD SYNNEX’s dividend payout ratio (DPR) is presently 13.74%.

Insider Buying and Selling

In other TD SYNNEX news, Director Ann F. Vezina sold 1,273 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $256.05, for a total value of $325,951.65. Following the sale, the director owned 5,828 shares in the company, valued at $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $242.97, for a total value of $1,214,850.00. Following the completion of the sale, the director directly owned 18,537 shares of the company’s stock, valued at approximately $4,503,934.89. The trade was a 21.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 16,273 shares of company stock worth $4,253,752. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bell Investment Advisors Inc acquired a new position in shares of TD SYNNEX in the second quarter valued at $27,000. Ossiam lifted its stake in shares of TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Fiduciary Financial Advisors acquired a new stake in shares of TD SYNNEX during the 2nd quarter worth about $28,000. Aster Capital Management DIFC Ltd bought a new stake in shares of TD SYNNEX during the 4th quarter worth about $28,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of TD SYNNEX during the 3rd quarter worth about $30,000. 84.00% of the stock is owned by 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.