Symbotic (NASDAQ:SYM) Stock Rating Upgraded by Wall Street Zen

Key Points

• Symbotic's stock rating was upgraded from "sell" to "hold" by Wall Street Zen, indicating a shift in analyst sentiment towards the company.
• The current consensus rating for Symbotic is "Hold" with an average target price of $43.44, following various actions by different analysts affecting its ratings and price targets.
• Despite a revenue increase of 25.9% year-over-year, Symbotic reported a quarterly loss of ($0.05) earnings per share, missing analyst estimates, and showing a negative net margin of 0.38%.

Symbotic (NASDAQ:SYM - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

SYM has been the subject of several other reports. Needham & Company LLC raised their target price on shares of Symbotic from $32.00 to $57.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Baird R W cut shares of Symbotic from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Robert W. Baird cut shares of Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 price target for the company. in a research report on Thursday, August 7th. Zacks Research cut shares of Symbotic from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Finally, Arete Research cut shares of Symbotic from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Six analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Symbotic currently has a consensus rating of "Hold" and an average target price of $43.44.

Symbotic Stock Down 2.4%

Shares of SYM opened at $47.75 on Friday. The stock has a market capitalization of $28.20 billion, a P/E ratio of -682.05 and a beta of 2.05. The firm has a fifty day simple moving average of $50.25 and a two-hundred day simple moving average of $34.23. Symbotic has a twelve month low of $16.32 and a twelve month high of $64.16.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.08). Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The firm had revenue of $592.12 million for the quarter, compared to analysts' expectations of $533.55 million. During the same period in the previous year, the company earned ($0.02) EPS. The company's quarterly revenue was up 25.9% on a year-over-year basis. Sell-side analysts expect that Symbotic will post 0.13 EPS for the current fiscal year.

Insider Transactions at Symbotic

In other news, Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $45.64, for a total value of $182,560.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles Kane sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $47.62, for a total transaction of $1,190,500.00. Following the completion of the transaction, the director directly owned 79,507 shares in the company, valued at approximately $3,786,123.34. The trade was a 23.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 484,632 shares of company stock valued at $23,901,751. Company insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Symbotic

Several large investors have recently added to or reduced their stakes in the company. American Trust purchased a new position in Symbotic during the second quarter valued at approximately $210,000. Total Investment Management Inc. bought a new stake in Symbotic in the second quarter worth $132,000. Thrivent Financial for Lutherans bought a new stake in Symbotic in the second quarter worth $245,000. FORA Capital LLC bought a new position in Symbotic during the second quarter valued at $388,000. Finally, Headlands Technologies LLC increased its position in Symbotic by 199.8% during the second quarter. Headlands Technologies LLC now owns 6,508 shares of the company's stock valued at $253,000 after acquiring an additional 4,337 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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