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

TD SYNNEX (NYSE:SNX) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks reports.

Other analysts have also issued reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of TD SYNNEX in a report on Monday, September 14th. Barrington Research upped their price target on TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 26th. Morgan Stanley upped their price target on TD SYNNEX from $334.00 to $359.00 and gave the company an “overweight” rating in a research report on Friday, September 25th. The Goldman Sachs Group set a $330.00 price objective on TD SYNNEX in a report on Friday, June 26th. Finally, UBS Group lifted their price objective on TD SYNNEX from $352.00 to $379.00 and gave the stock a “buy” rating in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $331.14.

TD SYNNEX Trading Down 0.3%

NYSE:SNX opened at $257.37 on Tuesday. The firm has a market capitalization of $20.58 billion, a P/E ratio of 15.68, a P/E/G ratio of 0.59 and a beta of 1.43. The company has a quick ratio of 0.64, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. The company has a fifty day moving average of $258.00 and a 200 day moving average of $240.13. TD SYNNEX has a 52 week low of $142.22 and a 52 week high of $298.77.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, September 24th. The business services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.98. TD SYNNEX had a net margin of 1.75% and a return on equity of 16.78%. The business had revenue of $21.56 billion for the quarter, compared to analyst estimates of $18.91 billion. During the same quarter last year, the firm earned $3.58 EPS. The company’s revenue was up 37.7% on a year-over-year basis. TD SYNNEX has set its Q4 2026 guidance at 5.650-6.150 EPS. On average, research analysts predict that TD SYNNEX will post 19.89 earnings per share for the current year.

Insider Activity

In related news, Director Richard Hume sold 5,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 18,537 shares of the company’s stock, valued at $4,503,934.89. This represents a 21.24% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann Vezina sold 1,273 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $256.05, for a total transaction of $325,951.65. Following the completion of the sale, the director owned 5,828 shares of the company’s stock, valued at $1,492,259.40. This trade represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,273 shares of company stock worth $2,851,852 in the last quarter. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TD SYNNEX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its holdings in shares of TD SYNNEX by 5.1% during the 2nd quarter. QRG Capital Management Inc. now owns 2,878 shares of the business services provider’s stock valued at $770,000 after buying an additional 140 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in TD SYNNEX by 11.1% during the second quarter. Sequoia Financial Advisors LLC now owns 5,572 shares of the business services provider’s stock worth $1,490,000 after acquiring an additional 555 shares in the last quarter. Capital Analysts LLC grew its holdings in TD SYNNEX by 10.9% in the second quarter. Capital Analysts LLC now owns 598 shares of the business services provider’s stock worth $160,000 after purchasing an additional 59 shares during the period. Pinnacle Wealth Management Advisory Group LLC purchased a new stake in TD SYNNEX in the second quarter worth about $248,000. Finally, Baird Financial Group Inc. bought a new position in shares of TD SYNNEX during the second quarter valued at approximately $350,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Company Profile

TD SYNNEX Corporation is a global technology distributor and solutions aggregator that connects technology vendors with resellers, systems integrators, managed service providers and other channel partners. The company helps bring hardware, software and cloud-based solutions to market while supporting partners with sales, marketing, logistics, financing and technical services.

Its portfolio includes data center and networking equipment, personal computing and endpoint devices, software, cybersecurity products, cloud services, unified communications, mobility solutions and emerging technologies.