Symbotic Inc. (NASDAQ:SYM) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) have been given an average recommendation of "Hold" by the seventeen ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $37.20.

Several brokerages have issued reports on SYM. UBS Group dropped their target price on Symbotic from $32.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. The Goldman Sachs Group decreased their price objective on Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Citigroup decreased their price objective on Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, BWS Financial reiterated a "sell" rating and issued a $10.00 target price on shares of Symbotic in a report on Wednesday, April 2nd.

Symbotic Stock Performance

Shares of SYM stock opened at $27.97 on Friday. Symbotic has a fifty-two week low of $16.32 and a fifty-two week high of $41.76. The stock has a 50 day moving average price of $25.01 and a two-hundred day moving average price of $25.13. The company has a market capitalization of $16.49 billion, a P/E ratio of -399.51, a PEG ratio of 6.48 and a beta of 1.95.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. The company had revenue of $549.65 million during the quarter, compared to analysts' expectations of $522.36 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The company's revenue for the quarter was up 39.7% on a year-over-year basis. As a group, equities analysts predict that Symbotic will post 0.13 earnings per share for the current year.

Insider Transactions at Symbotic

In other news, insider William M. Boyd III sold 2,455 shares of Symbotic stock in a transaction dated 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 directly owns 39,659 shares of the company's stock, valued at approximately $884,792.29. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Carol J. Hibbard sold 4,628 shares of Symbotic stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.62, for a total value of $104,685.36. Following the sale, the chief financial officer now directly owns 54,011 shares in the company, valued at approximately $1,221,728.82. The trade was a 7.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,056 shares of company stock valued at $1,147,201 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Symbotic

A number of hedge funds have recently made changes to their positions in the business. IFP Advisors Inc boosted its stake in Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock valued at $32,000 after purchasing an additional 503 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Symbotic by 1,812.2% during the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after buying an additional 1,341 shares during the period. Ulland Investment Advisors LLC acquired a new stake in shares of Symbotic during the 1st quarter valued at $31,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Symbotic during the 4th quarter valued at $47,000. Finally, Private Trust Co. NA bought a new stake in Symbotic in the fourth quarter worth $47,000.

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.

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