Symantec (NASDAQ:SYMC) had its price target increased by investment analysts at Bank of America from $19.00 to $21.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “underperform” rating on the technology company’s stock. Bank of America’s price objective points to a potential downside of 23.25% from the stock’s previous close.
A number of other analysts have also recently commented on the company. Morgan Stanley cut their price objective on Symantec from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday. Barclays cut their price objective on Symantec from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday. Cowen restated a “sell” rating and issued a $26.00 price objective on shares of Symantec in a research report on Thursday. Stifel Nicolaus cut their price objective on Symantec from $27.00 to $26.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Robert W. Baird restated a “hold” rating on shares of Symantec in a research report on Thursday. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. Symantec presently has a consensus rating of “Hold” and an average target price of $30.81.
Symantec (NASDAQ SYMC) traded up $0.13 during trading on Thursday, hitting $27.36. The stock had a trading volume of 13,735,842 shares, compared to its average volume of 7,548,088. The stock has a market capitalization of $16,503.92, a PE ratio of -68.40, a PEG ratio of 2.69 and a beta of 1.08. Symantec has a 1-year low of $25.65 and a 1-year high of $34.20. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.12 and a quick ratio of 1.12.
In other Symantec news, EVP Francis C. Rosch sold 57,103 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $27.42, for a total transaction of $1,565,764.26. Following the transaction, the executive vice president now owns 325,026 shares of the company’s stock, valued at $8,912,212.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Nicholas R. Noviello sold 375,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $29.38, for a total value of $11,017,500.00. Following the transaction, the chief financial officer now directly owns 565,319 shares in the company, valued at approximately $16,609,072.22. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYMC. United Bank Inc. acquired a new position in shares of Symantec in the 3rd quarter valued at $200,000. Jaffetilchin Investment Partners LLC acquired a new position in shares of Symantec in the 3rd quarter valued at $225,000. Whittier Trust Co. lifted its stake in shares of Symantec by 192.1% in the 3rd quarter. Whittier Trust Co. now owns 7,460 shares of the technology company’s stock valued at $245,000 after purchasing an additional 4,906 shares during the last quarter. MUFG Americas Holdings Corp acquired a new position in shares of Symantec in the 3rd quarter valued at $248,000. Finally, Lenox Wealth Advisors Inc. acquired a new position in shares of Symantec in the 4th quarter valued at $224,000. 94.86% of the stock is currently owned by institutional investors.
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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.
