Symbotic Inc. (NASDAQ:SYM) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Analyst consensus is “Hold”: Of 14 brokerages covering Symbotic, seven rate it a buy, five a hold and two a sell. The average 12-month price target is $65.83, though several firms recently lowered targets.
• Shares have weakened significantly: SYM opened at $37.90, near its 52-week low of $36.47 and well below its $87.88 high. The stock trades at a very high P/E ratio of 421.11.
• Quarterly results were mixed: Revenue rose 21.7% year over year to $720.84 million, exceeding estimates, but adjusted EPS of $0.09 missed expectations of $0.13. Insiders have sold 15,952 shares worth approximately $674,292 over the past 90 days.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) has been given a consensus rating of "Hold" by the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $65.83.

Several research firms recently weighed in on SYM. Needham & Company LLC reduced their target price on shares of Symbotic from C$75.00 to C$60.00 and set a "buy" rating on the stock in a report on Tuesday, September 15th. Weiss Ratings raised Symbotic from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, September 21st. Robert W. Baird set a $51.00 price objective on Symbotic in a research report on Thursday, August 6th. Barclays reduced their price objective on Symbotic from $44.00 to $38.00 and set an "underweight" rating on the stock in a research note on Tuesday, September 8th. Finally, Zacks Research raised Symbotic from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th.

Symbotic Stock Down 3.5%

Shares of NASDAQ SYM opened at $37.90 on Tuesday. Symbotic has a 52-week low of $36.47 and a 52-week high of $87.88. The stock has a market capitalization of $22.92 billion, a PE ratio of 421.11, a P/E/G ratio of 3.71 and a beta of 1.97. The firm has a fifty day moving average of $41.68 and a 200-day moving average of $49.01.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). The firm had revenue of $720.84 million for the quarter, compared to analysts' expectations of $715.03 million. Symbotic had a net margin of 0.48% and a return on equity of 1.40%. Symbotic's revenue was up 21.7% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. Equities research analysts expect that Symbotic will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $45.27, for a total value of $90,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Kane sold 2,000 shares of Symbotic stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $43.21, for a total transaction of $86,420.00. Following the sale, the director owned 89,852 shares in the company, valued at $3,882,504.92. This represents a 2.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 15,952 shares of company stock valued at $674,292. Corporate insiders own 8.16% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SYM. GK Wealth Management LLC purchased a new position in Symbotic in the 3rd quarter valued at about $26,000. Toth Financial Advisory Corp increased its position in shares of Symbotic by 88.7% during the third quarter. Toth Financial Advisory Corp now owns 632 shares of the company's stock worth $27,000 after acquiring an additional 297 shares during the last quarter. IAG Wealth Partners LLC increased its position in shares of Symbotic by 29.4% during the first quarter. IAG Wealth Partners LLC now owns 1,752 shares of the company's stock worth $93,000 after acquiring an additional 398 shares during the last quarter. Nykredit A S acquired a new position in shares of Symbotic in the second quarter worth about $89,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in shares of Symbotic by 115.3% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 1,996 shares of the company's stock worth $106,000 after acquiring an additional 1,069 shares in the last quarter.

Symbotic Company Profile

Symbotic Inc is an automation technology company that develops artificial intelligence-enabled robotics and software for supply chain and warehouse operations. Its systems are designed to automate the movement, storage, retrieval and replenishment of pallets and cases within large distribution centers, helping customers manage inventory and fulfill orders more efficiently.

The company's platform combines mobile robots, automated storage and retrieval systems, robotic palletizing and depalletizing equipment, and warehouse-control software.

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