Symbotic Inc. (NASDAQ:SYM) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nineteen brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $39.59.

SYM has been the topic of several research reports. Arete Research upgraded shares of Symbotic to a "strong-buy" rating and set a $50.00 price target on the stock in a research report on Wednesday, June 25th. BWS Financial restated a "sell" rating and issued a $10.00 price target on shares of Symbotic in a research report on Wednesday, April 2nd. Citigroup dropped their target price on Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group dropped their target price on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, Arete started coverage on Symbotic in a report on Wednesday, June 25th. They issued a "buy" rating and a $50.00 target price for the company.

Insider Activity at Symbotic

In related news, CFO Carol J. Hibbard sold 4,628 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.62, for a total transaction of $104,685.36. Following the transaction, the chief financial officer directly owned 54,011 shares of the company's stock, valued at $1,221,728.82. This represents a 7.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider William M. Boyd III sold 11,735 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $21.95, for a total value of $257,583.25. Following the sale, the insider owned 36,999 shares in the company, valued at approximately $812,128.05. The trade was a 24.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,616 shares of company stock worth $1,140,517 over the last ninety days. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Symbotic

Hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp raised its holdings in shares of Symbotic by 154.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,457 shares of the company's stock valued at $58,000 after acquiring an additional 1,490 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Symbotic by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 230,996 shares of the company's stock valued at $5,477,000 after purchasing an additional 11,922 shares during the period. M&T Bank Corp increased its stake in Symbotic by 23.5% during the fourth quarter. M&T Bank Corp now owns 18,095 shares of the company's stock worth $429,000 after acquiring an additional 3,445 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Symbotic during the fourth quarter worth $20,754,000. Finally, PNC Financial Services Group Inc. increased its stake in Symbotic by 146.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,832 shares of the company's stock worth $91,000 after acquiring an additional 2,275 shares during the last quarter.

Symbotic Trading Up 3.2%

SYM traded up $1.47 on Wednesday, hitting $47.16. 1,765,617 shares of the company's stock traded hands, compared to its average volume of 2,044,504. The company's 50 day simple moving average is $31.01 and its 200-day simple moving average is $26.59. The firm has a market cap of $27.81 billion, a price-to-earnings ratio of -1,179.00, a P/E/G ratio of 78.80 and a beta of 2.03. Symbotic has a one year low of $16.32 and a one year high of $48.40.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $549.65 million for the quarter, compared to the consensus estimate of $522.36 million. Symbotic had a negative net margin of 0.23% and a negative return on equity of 1.26%. The firm's revenue for the quarter was up 39.7% compared to the same quarter last year. During the same period last year, the business posted ($0.07) EPS. As a group, equities analysts anticipate that Symbotic will post 0.13 EPS for the current fiscal year.

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.