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

Key Points

• Zacks Research upgraded TD SYNNEX to “Strong Buy” from “Hold.” Analysts’ overall consensus is “Buy,” with a consensus price target of $331.14.
• TD SYNNEX reported quarterly EPS of $5.68, exceeding estimates of $4.70, while revenue reached $21.56 billion and rose 37.7% year over year.
• Shares opened at $257.37, down 0.3%, with a 12-month range of $142.22 to $298.77. Institutional investors own approximately 84% of the company, while insiders sold $2.85 million in stock over the past three months.

TD SYNNEX (NYSE:SNX - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday, Zacks reports.

Other research analysts have also issued research reports about the company. 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. Royal Bank Of Canada set a $340.00 target price on TD SYNNEX in a research note on Friday, June 26th. Morgan Stanley upped their target price on TD SYNNEX from $334.00 to $359.00 and gave the company an "overweight" rating in a report on Friday, September 25th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of TD SYNNEX in a research note on Monday, September 14th. Finally, Barclays lifted their price target on shares of TD SYNNEX from $278.00 to $287.00 and gave the company an "equal weight" rating in a report on Tuesday, September 8th. One 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 stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $331.14.

TD SYNNEX Trading Down 0.3%

Shares of SNX opened at $257.37 on Tuesday. The stock has a market capitalization of $20.58 billion, a P/E ratio of 15.68, a PEG ratio of 0.59 and a beta of 1.43. TD SYNNEX has a twelve month low of $142.22 and a twelve month high of $298.77. 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 firm has a fifty day simple moving average of $258.00 and a two-hundred day simple moving average of $240.13.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings data on Thursday, September 24th. The business services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.70 by $0.98. The firm had revenue of $21.56 billion during the quarter, compared to the consensus estimate of $18.91 billion. TD SYNNEX had a net margin of 1.75% and a return on equity of 16.78%. The company's quarterly revenue was up 37.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.58 earnings per share. TD SYNNEX has set its Q4 2026 guidance at 5.650-6.150 EPS. On average, research analysts anticipate that TD SYNNEX will post 19.89 EPS for the current year.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total value of $1,311,050.00. Following the completion of the transaction, the director owned 13,537 shares of the company's stock, valued at $3,549,536.77. The trade was a 26.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. Vezina sold 1,273 shares of the company'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 transaction, the director owned 5,828 shares in the company, valued at approximately $1,492,259.40. The trade was a 17.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 11,273 shares of company stock worth $2,851,852 over the last three months. Corporate insiders own 0.70% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SNX. BlackRock Inc. bought a new stake in shares of TD SYNNEX during the second quarter valued at approximately $1,958,683,000. Metropolis Capital Ltd boosted its stake in TD SYNNEX by 9.5% during the 1st quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider's stock valued at $216,169,000 after purchasing an additional 111,222 shares during the last quarter. Norges Bank bought a new stake in shares of TD SYNNEX in the 4th quarter worth $148,559,000. Principal Financial Group Inc. increased its holdings in shares of TD SYNNEX by 8.1% in the 1st quarter. Principal Financial Group Inc. now owns 684,004 shares of the business services provider's stock worth $115,406,000 after purchasing an additional 51,303 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of TD SYNNEX by 41.9% in the first quarter. Sei Investments Co. now owns 620,366 shares of the business services provider's stock worth $104,661,000 after purchasing an additional 183,185 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.