Symbotic's (SYM) Hold (C-) Rating Reiterated at Weiss Ratings

Key Points

• Symbotic's stock has been assigned a "hold (C-)" rating by Weiss Ratings, with an average "hold" consensus rating from analysts.
• The company has recently seen mixed ratings from various analysts, with UBS maintaining a "sell" rating and Deutsche Bank lowering its rating from "buy" to "hold" alongside a target price of $51.00.
• Symbotic reported a revenue increase of 25.9% year-over-year but missed earnings expectations, posting a loss of ($0.05) EPS compared to a consensus estimate of $0.03.

Symbotic (NASDAQ:SYM - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by analysts at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

A number of other research analysts have also commented on the company. Zacks Research raised Symbotic from a "strong sell" rating to a "hold" rating in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft downgraded Symbotic from a "buy" rating to a "hold" rating and set a $51.00 target price for the company. in a research note on Friday, July 18th. Robert W. Baird downgraded Symbotic from an "outperform" rating to a "neutral" rating and set a $55.00 target price for the company. in a research note on Thursday, August 7th. UBS Group reiterated a "sell" rating and issued a $35.00 price objective (up previously from $27.00) on shares of Symbotic in a research report on Tuesday, September 23rd. Finally, Barclays initiated coverage on Symbotic in a research report on Tuesday, October 7th. They issued an "underweight" rating and a $38.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $44.61.

Symbotic Trading Down 4.1%

SYM stock traded down $2.76 during mid-day trading on Friday, hitting $65.10. The stock had a trading volume of 1,911,108 shares, compared to its average volume of 1,979,098. The stock has a market capitalization of $38.44 billion, a price-to-earnings ratio of -929.87, a PEG ratio of 11.42 and a beta of 2.06. The company has a fifty day moving average of $56.06 and a 200 day moving average of $42.63. Symbotic has a 1-year low of $16.32 and a 1-year high of $79.58.

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

Insider Transactions at Symbotic

In other Symbotic news, Director Todd Krasnow sold 30,000 shares of Symbotic stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $51.54, for a total value of $1,546,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William M. Boyd III sold 25,000 shares of Symbotic stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $59.00, for a total value of $1,475,000.00. Following the completion of the transaction, the insider owned 31,884 shares of the company's stock, valued at approximately $1,881,156. The trade was a 43.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 490,348 shares of company stock worth $25,157,458. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Symbotic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. World Equity Group Inc. acquired a new position in Symbotic in the 3rd quarter worth about $225,000. SG Americas Securities LLC increased its holdings in Symbotic by 405.7% in the 3rd quarter. SG Americas Securities LLC now owns 73,956 shares of the company's stock worth $3,986,000 after purchasing an additional 59,331 shares in the last quarter. Spire Wealth Management increased its holdings in Symbotic by 13.0% in the 3rd quarter. Spire Wealth Management now owns 21,927 shares of the company's stock worth $1,182,000 after purchasing an additional 2,523 shares in the last quarter. CoreCap Advisors LLC increased its holdings in Symbotic by 17.0% in the 3rd quarter. CoreCap Advisors LLC now owns 14,140 shares of the company's stock worth $762,000 after purchasing an additional 2,055 shares in the last quarter. Finally, Bouvel Investment Partners LLC increased its holdings in Symbotic by 0.8% in the 3rd quarter. Bouvel Investment Partners LLC now owns 44,479 shares of the company's stock worth $2,397,000 after purchasing an additional 336 shares in 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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