Symbotic (NASDAQ:SYM) Stock Rating Reaffirmed by BWS Financial

Symbotic (NASDAQ:SYM)‘s stock had its “sell” rating reaffirmed by research analysts at BWS Financial in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $10.00 price objective on the stock. BWS Financial’s target price suggests a potential downside of 60.82% from the stock’s current price.

SYM has been the topic of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 target price on shares of Symbotic in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. TD Cowen decreased their target price on Symbotic from $55.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Needham & Company LLC decreased their target price on Symbotic from $54.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, Robert W. Baird reduced their price target on Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.23.

Symbotic Stock Up 1.6 %

NASDAQ:SYM opened at $25.52 on Friday. The firm has a market capitalization of $14.94 billion, a price-to-earnings ratio of -106.33 and a beta of 1.81. Symbotic has a twelve month low of $17.11 and a twelve month high of $59.82. The stock’s 50 day moving average price is $24.07 and its two-hundred day moving average price is $34.99.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The company had revenue of $491.86 million for the quarter, compared to analyst estimates of $464.56 million. Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The firm’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) EPS. As a group, analysts anticipate that Symbotic will post -0.08 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael David Dunn sold 1,895 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $36.56, for a total transaction of $69,281.20. Following the completion of the sale, the insider now directly owns 77,326 shares in the company, valued at approximately $2,827,038.56. The sale was disclosed in a filing with the SEC, which is available through this link. In other Symbotic news, insider Michael David Dunn sold 1,895 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $36.56, for a total value of $69,281.20. Following the completion of the transaction, the insider now owns 77,326 shares of the company’s stock, valued at approximately $2,827,038.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total value of $70,980.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $70,980. The disclosure for this sale can be found here. Insiders sold a total of 38,909 shares of company stock worth $1,148,358 in the last ninety days. 38.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Symbotic

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Symbotic by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after purchasing an additional 345,386 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Symbotic by 191.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after purchasing an additional 509,700 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Symbotic by 418.1% during the 1st quarter. Blair William & Co. IL now owns 33,365 shares of the company’s stock valued at $1,501,000 after purchasing an additional 26,925 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Symbotic during the 4th quarter valued at about $1,669,000. Finally, Comerica Bank boosted its position in shares of Symbotic by 1,347.0% during the 1st quarter. Comerica Bank now owns 16,641 shares of the company’s stock valued at $749,000 after purchasing an additional 15,491 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.