Symantec (NASDAQ:SYMC) had its target price reduced by stock analysts at Barclays from $36.00 to $34.00 in a report issued on Thursday. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays’ price objective would indicate a potential upside of 24.27% from the stock’s current price.
Several other equities analysts also recently weighed in on the company. BidaskClub downgraded Symantec from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 13th. Morgan Stanley dropped their price target on Symantec from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, November 3rd. CIBC reissued an “outperform” rating and set a $33.00 price target (down previously from $35.00) on shares of Symantec in a research report on Thursday, November 2nd. Deutsche Bank initiated coverage on Symantec in a research report on Tuesday, December 19th. They set a “hold” rating and a $30.00 price target for the company. Finally, Zacks Investment Research raised Symantec from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $30.81.
Symantec (NASDAQ SYMC) traded up $0.13 during midday trading on Thursday, reaching $27.36. The company had a trading volume of 13,735,842 shares, compared to its average volume of 7,548,088. Symantec has a 12-month low of $25.65 and a 12-month high of $34.20. The stock has a market cap of $16,503.92, a P/E ratio of -68.40, a P/E/G ratio of 2.69 and a beta of 1.08. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.72.
In related news, EVP Francis C. Rosch sold 57,103 shares of Symantec stock in a transaction on 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 transaction, the executive vice president now owns 325,026 shares in the company, valued at $8,912,212.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Nicholas R. Noviello sold 375,000 shares of Symantec stock in a transaction on 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 owns 565,319 shares in the company, valued at approximately $16,609,072.22. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. United Bank Inc. acquired a new position in Symantec in the third quarter valued at $200,000. Jaffetilchin Investment Partners LLC acquired a new position in Symantec in the third quarter valued at $225,000. Whittier Trust Co. boosted its holdings in Symantec by 192.1% in the third quarter. Whittier Trust Co. now owns 7,460 shares of the technology company’s stock valued at $245,000 after acquiring an additional 4,906 shares during the last quarter. MUFG Americas Holdings Corp acquired a new position in Symantec in the third quarter valued at $248,000. Finally, Lenox Wealth Advisors Inc. acquired a new position in Symantec in the fourth quarter valued at $224,000. Hedge funds and other institutional investors own 94.86% of the company’s stock.
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About Symantec
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.
