Symbotic (NASDAQ:SYM) Stock Rating Lowered by Deutsche Bank Aktiengesellschaft

Symbotic (NASDAQ:SYM - Get Free Report) was downgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday,Finviz reports. They currently have a $51.00 price objective on the stock. Deutsche Bank Aktiengesellschaft's price target indicates a potential downside of 5.87% from the company's previous close.

SYM has been the topic of a number of other reports. Citigroup restated a "buy" rating on shares of Symbotic in a report on Monday. Northland Securities upped their price target on Symbotic from $35.00 to $56.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. The Goldman Sachs Group cut their price objective on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Arete Research upgraded Symbotic to a "strong-buy" rating and set a $50.00 target price on the stock in a research report on Wednesday, June 25th. Finally, Oppenheimer restated an "outperform" rating and set a $54.00 price objective (up previously from $35.00) on shares of Symbotic in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Symbotic has a consensus rating of "Moderate Buy" and an average target price of $40.24.

Symbotic Price Performance

Shares of NASDAQ:SYM opened at $54.18 on Friday. Symbotic has a one year low of $16.32 and a one year high of $54.22. The stock has a market capitalization of $31.95 billion, a PE ratio of -1,354.50, a price-to-earnings-growth ratio of 54.96 and a beta of 2.03. The company's 50-day moving average price is $34.74 and its two-hundred day moving average price is $27.77.

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

Insider Transactions at Symbotic

In other news, Director Daniela L. Rus sold 2,706 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $49.00, for a total transaction of $132,594.00. Following the transaction, the director directly owned 23,729 shares of the company's stock, valued at $1,162,721. This represents a 10.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Carol J. Hibbard sold 4,628 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $22.62, for a total value of $104,685.36. Following the transaction, the chief financial officer owned 54,011 shares of the company's stock, valued at approximately $1,221,728.82. The trade was a 7.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,322 shares of company stock valued at $2,807,479 in the last three months. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Symbotic

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position 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 worth $5,477,000 after acquiring an additional 11,922 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of 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 buying an additional 2,275 shares during the period. HighTower Advisors LLC raised its stake in shares of Symbotic by 13.0% during the 4th quarter. HighTower Advisors LLC now owns 26,371 shares of the company's stock worth $625,000 after buying an additional 3,033 shares in the last quarter. Swiss National Bank lifted its stake in shares of Symbotic by 2.4% in the fourth quarter. Swiss National Bank now owns 81,700 shares of the company's stock valued at $1,937,000 after purchasing an additional 1,900 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in Symbotic by 1.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 48,672 shares of the company's stock worth $1,154,000 after acquiring an additional 619 shares during the last quarter.

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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