Symbotic (NASDAQ:SYM - Get Free Report) had its price target lowered by equities research analysts at UBS Group from $32.00 to $30.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's target price points to a potential upside of 32.16% from the company's previous close.
Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group lowered their price target on Symbotic from $28.00 to $25.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. William Blair reiterated a "market perform" rating on shares of Symbotic in a research report on Thursday, December 5th. Raymond James cut Symbotic from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Northland Securities increased their target price on Symbotic from $35.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, January 17th. Finally, BWS Financial reissued a "sell" rating and set a $10.00 target price on shares of Symbotic in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $38.20.
View Our Latest Research Report on Symbotic
Symbotic Stock Performance
NASDAQ:SYM traded down $0.24 during mid-day trading on Tuesday, hitting $22.70. 1,739,853 shares of the company's stock traded hands, compared to its average volume of 2,332,142. The company has a fifty day moving average of $27.10 and a 200 day moving average of $26.50. Symbotic has a twelve month low of $17.11 and a twelve month high of $50.40. The company has a market capitalization of $13.36 billion, a P/E ratio of -324.24, a P/E/G ratio of 6.48 and a beta of 1.79.
Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating 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%. On average, research analysts expect that Symbotic will post 0.13 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Rollin L. Ford sold 28,740 shares of the firm's stock in a transaction on 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 in the company, valued at $271,830.94. This trade represents a 73.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael David Dunn sold 63,867 shares of Symbotic stock in a transaction on Monday, December 9th. The shares were sold at an average price of $30.08, for a total value of $1,921,119.36. Following the completion of the transaction, the insider now owns 24,055 shares of the company's stock, valued at approximately $723,574.40. This trade represents a 72.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,854 shares of company stock valued at $3,986,371 over the last quarter. 0.60% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of SYM. International Assets Investment Management LLC boosted its holdings in Symbotic by 1,273,060.0% in the third quarter. International Assets Investment Management LLC now owns 63,658 shares of the company's stock valued at $1,553,000 after purchasing an additional 63,653 shares during the period. Hunter Associates Investment Management LLC boosted its holdings in Symbotic by 29.8% in the third quarter. Hunter Associates Investment Management LLC now owns 63,093 shares of the company's stock valued at $1,528,000 after purchasing an additional 14,487 shares during the period. Clear Creek Financial Management LLC purchased a new position in Symbotic in the third quarter valued at $273,000. Arcadia Investment Management Corp MI purchased a new position in Symbotic in the third quarter valued at $49,000. Finally, Van ECK Associates Corp raised its stake in Symbotic by 28.4% in 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 in the last quarter.
About Symbotic
(
Get Free Report)
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.
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