TD SYNNEX (NYSE:SNX) Stock Rating Upgraded by Wall Street Zen

Key Points

• TD SYNNEX has been upgraded from a "hold" to a "buy" rating by investment analysts at Wall Street Zen.
• JPMorgan Chase raised its target price for TD SYNNEX shares from $143.00 to $160.00, while Bank of America increased it from $156.00 to $170.00, both giving the stock a buy rating.
• Recent earnings reports showed TD SYNNEX exceeding estimates with $2.99 earnings per share and revenue of $14.95 billion, up 7.2% compared to the previous year.

Wall Street Zen upgraded shares of TD SYNNEX (NYSE:SNX - Free Report) from a hold rating to a buy rating in a report released on Saturday.

SNX has been the subject of several other reports. Loop Capital lifted their price objective on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Barrington Research restated an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, July 11th. Barclays set a $140.00 price objective on TD SYNNEX in a research report on Tuesday, June 24th. Bank of America lifted their price objective on TD SYNNEX from $156.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $149.30.

TD SYNNEX Price Performance

SNX stock traded down $0.9460 during midday trading on Friday, hitting $145.2640. 369,739 shares of the stock were exchanged, compared to its average volume of 556,874. The stock's 50-day moving average price is $140.21 and its 200-day moving average price is $128.55. The stock has a market cap of $11.98 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.19 and a beta of 1.32. TD SYNNEX has a fifty-two week low of $92.23 and a fifty-two week high of $153.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%.The firm had revenue of $14.95 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the previous year, the firm posted $2.73 EPS. The company's quarterly revenue was up 7.2% compared to the same quarter last year. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. Research analysts predict that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were issued a $0.44 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.2%. TD SYNNEX's payout ratio is 20.56%.

Insiders Place Their Bets

In other news, insider Alim Dhanji sold 1,257 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total transaction of $179,009.37. Following the completion of the sale, the insider directly owned 10,984 shares of the company's stock, valued at $1,564,231.44. The trade was a 10.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Marshall Witt sold 1,509 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the sale, the chief financial officer directly owned 49,563 shares of the company's stock, valued at $6,212,722.05. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,888 shares of company stock valued at $9,115,025. Insiders own 1.00% of the company's stock.

Institutional Trading of TD SYNNEX

Several institutional investors have recently made changes to their positions in SNX. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of TD SYNNEX by 329.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock valued at $25,000 after buying an additional 188 shares during the period. Bessemer Group Inc. grew its stake in shares of TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after buying an additional 152 shares during the period. Versant Capital Management Inc grew its stake in shares of TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after buying an additional 183 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in shares of TD SYNNEX during the 1st quarter valued at $44,000. Finally, Quarry LP purchased a new stake in shares of TD SYNNEX during the 1st quarter valued at $51,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Company Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.