Symbotic's (SYM) Overweight Rating Reiterated at Cantor Fitzgerald

Symbotic (NASDAQ:SYM - Get Free Report)'s stock had its "overweight" rating reissued by equities researchers at Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports. They presently have a $60.00 price objective on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 112.84% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. KeyCorp reiterated a "sector weight" rating on shares of Symbotic in a research report on Wednesday, November 27th. Northland Securities raised their price target on shares of Symbotic from $35.00 to $41.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. Oppenheimer started coverage on Symbotic in a research report on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $35.00 price objective on shares of Symbotic in a report on Friday, January 17th. Finally, The Goldman Sachs Group reduced their price objective on shares of Symbotic from $34.00 to $28.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Symbotic currently has a consensus rating of "Hold" and a consensus price target of $38.33.

Symbotic Trading Up 6.9 %

NASDAQ:SYM traded up $1.82 during mid-day trading on Thursday, hitting $28.19. The stock had a trading volume of 3,491,410 shares, compared to its average volume of 2,676,216. Symbotic has a 52 week low of $17.11 and a 52 week high of $50.40. The company has a 50 day simple moving average of $27.13 and a 200-day simple moving average of $26.57. The stock has a market capitalization of $16.56 billion, a price-to-earnings ratio of -402.66, a P/E/G ratio of 6.45 and a beta of 1.79.

Symbotic (NASDAQ:SYM - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, equities research analysts anticipate that Symbotic will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Carol J. Hibbard sold 4,055 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total transaction of $124,488.50. Following the completion of the transaction, the chief financial officer now directly owns 44,386 shares in the company, valued at $1,362,650.20. This represents a 8.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael David Dunn sold 5,365 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $24.60, for a total value of $131,979.00. Following the completion of the transaction, the insider now owns 31,860 shares of the company's stock, valued at $783,756. This represents a 14.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,007 shares of company stock valued at $2,827,909 over the last ninety days. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of Symbotic

Institutional investors have recently modified their holdings of the business. Castleview Partners LLC boosted its position in shares of Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company's stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Symbotic by 58.2% in the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after buying an additional 503 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Symbotic by 1.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company's stock worth $1,154,000 after buying an additional 619 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Symbotic by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company's stock valued at $304,000 after buying an additional 679 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Symbotic by 28.4% during the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company's stock valued at $85,000 after buying an additional 774 shares during the period.

Symbotic Company Profile

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.