Symantec (SYMC) Stock Rating Lowered by BidaskClub
Symantec (NASDAQ:SYMC) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Saturday.
Other analysts have also issued reports about the stock. CIBC restated an “outperform” rating and issued a $33.00 price objective (down from $35.00) on shares of Symantec in a report on Thursday, November 2nd. Stifel Nicolaus restated a “hold” rating and issued a $27.00 price objective on shares of Symantec in a report on Friday, November 3rd. Standpoint Research lowered shares of Symantec from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Cowen lowered shares of Symantec from a “market perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a report on Monday, October 9th. Finally, Piper Jaffray Companies set a $40.00 price objective on shares of Symantec and gave the company a “buy” rating in a report on Sunday, October 15th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $32.29.
Symantec (NASDAQ:SYMC) traded up $0.05 during midday trading on Friday, hitting $28.82. The stock had a trading volume of 10,488,351 shares, compared to its average volume of 5,460,000. Symantec has a fifty-two week low of $25.64 and a fifty-two week high of $34.20. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $17,870.00, a price-to-earnings ratio of -49.69, a PEG ratio of 2.91 and a beta of 1.07.
In other Symantec news, EVP Francis C. Rosch sold 57,103 shares of Symantec stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $27.42, for a total value of $1,565,764.26. Following the completion of the transaction, the executive vice president now directly owns 325,026 shares of the company’s stock, valued at approximately $8,912,212.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Nicholas R. Noviello sold 375,000 shares of Symantec stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $29.38, for a total value of $11,017,500.00. Following the completion of the transaction, the chief financial officer now directly owns 565,319 shares of the company’s stock, valued at $16,609,072.22. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its position in Symantec by 7.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after acquiring an additional 292 shares in the last quarter. Sun Life Financial INC grew its position in shares of Symantec by 44,100.0% during the second quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock worth $125,000 after buying an additional 4,410 shares in the last quarter. Harfst & Associates Inc. acquired a new position in shares of Symantec during the second quarter worth about $127,000. United Bank Inc. acquired a new position in shares of Symantec during the third quarter worth about $200,000. Finally, Roundview Capital LLC acquired a new position in shares of Symantec during the second quarter worth about $222,000. 94.74% of the stock is owned by institutional investors.
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security, Cloud, Data Center Security and Cloud Workload Protection products.
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