Symbotic Inc. (NASDAQ:SYM) Receives Consensus Rating of "Hold" from Analysts

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) have been given a consensus recommendation of "Hold" by the seventeen research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $38.20.

SYM has been the topic of several recent analyst reports. Northland Securities boosted their target price on shares of Symbotic from $35.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, January 17th. Oppenheimer initiated coverage on Symbotic in a report on Wednesday, January 15th. They issued an "outperform" rating and a $35.00 price objective on the stock. Citigroup reissued a "buy" rating and set a $37.00 target price on shares of Symbotic in a research note on Monday, January 13th. DA Davidson upgraded Symbotic from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a research report on Wednesday, January 8th. Finally, UBS Group lowered their price target on Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th.

Insiders Place Their Bets

In other news, Director Rollin L. Ford sold 28,740 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.02, for a total transaction of $747,814.80. Following the completion of the transaction, the director now directly owns 10,447 shares of the company's stock, valued at approximately $271,830.94. The trade was a 73.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William M. Boyd III sold 2,455 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $22.31, for a total transaction of $54,771.05. Following the sale, the insider now owns 39,659 shares in the company, valued at $884,792.29. The trade was a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,442 shares of company stock worth $2,120,023 in the last ninety days. 0.60% of the stock is owned by corporate insiders.

Remove Ads

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in shares of Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after purchasing an additional 503 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Symbotic by 1.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company's stock valued at $1,154,000 after buying an additional 619 shares in the last quarter. National Bank of Canada FI lifted its holdings in Symbotic by 36.8% during the 3rd quarter. National Bank of Canada FI now owns 3,557 shares of the company's stock worth $87,000 after buying an additional 957 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Symbotic by 40.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company's stock worth $85,000 after acquiring an additional 1,018 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Symbotic by 5.7% in the 4th quarter. Cetera Investment Advisers now owns 24,621 shares of the company's stock valued at $584,000 after acquiring an additional 1,332 shares during the last quarter.

Symbotic Price Performance

Symbotic stock traded up $0.69 during trading on Monday, reaching $20.90. 1,052,753 shares of the company were exchanged, compared to its average volume of 1,889,017. The stock's 50 day simple moving average is $25.34 and its two-hundred day simple moving average is $26.73. The company has a market capitalization of $12.30 billion, a P/E ratio of -298.53, a PEG ratio of 6.48 and a beta of 1.85. Symbotic has a 52-week low of $17.11 and a 52-week high of $48.98.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate 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 analysts forecast that Symbotic will post 0.13 earnings per share for the current year.

About Symbotic

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.