Symbotic Inc. (NASDAQ:SYM) Receives Average Rating of “Hold” from Analysts

Symbotic Inc. (NASDAQ:SYM) has been assigned an average rating of “Hold” from the sixteen analysts that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $65.2308.

Several equities research analysts recently commented on the stock. Weiss Ratings cut shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. The Goldman Sachs Group lowered their target price on Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a report on Tuesday, May 26th. DA Davidson reissued a “buy” rating and issued a $70.00 price target on shares of Symbotic in a research note on Monday, May 11th. Finally, Zacks Research lowered Symbotic from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th.

Symbotic Stock Performance

NASDAQ SYM opened at $41.25 on Friday. The business has a 50 day simple moving average of $45.07 and a 200 day simple moving average of $53.17. Symbotic has a 52-week low of $38.19 and a 52-week high of $87.88. The stock has a market cap of $24.86 billion, a price-to-earnings ratio of -824.84, a PEG ratio of 6.08 and a beta of 1.93.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). The company had revenue of $676.48 million during the quarter, compared to the consensus estimate of $662.65 million. Symbotic had a negative net margin of 0.20% and a negative return on equity of 0.68%. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. On average, analysts predict that Symbotic will post 0.23 EPS for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, SVP Brian Daniel Alexander sold 37,860 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $59.97, for a total value of $2,270,464.20. Following the sale, the senior vice president owned 44,229 shares in the company, valued at approximately $2,652,413.13. The trade was a 46.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Todd Krasnow sold 25,422 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $52.45, for a total value of $1,333,383.90. Following the transaction, the director directly owned 182,036 shares of the company’s stock, valued at approximately $9,547,788.20. This trade represents a 12.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 147,798 shares of company stock valued at $8,221,095 in the last 90 days. 8.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Symbotic

A number of institutional investors have recently made changes to their positions in SYM. Federation des caisses Desjardins du Quebec raised its stake in shares of Symbotic by 5.2% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,493 shares of the company’s stock worth $267,000 after purchasing an additional 224 shares in the last quarter. Barton Investment Management grew its stake in shares of Symbotic by 0.8% in the fourth quarter. Barton Investment Management now owns 30,658 shares of the company’s stock valued at $1,824,000 after buying an additional 233 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Symbotic by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,375 shares of the company’s stock valued at $677,000 after buying an additional 236 shares in the last quarter. Parallel Advisors LLC increased its holdings in Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after buying an additional 249 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in Symbotic by 4.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,753 shares of the company’s stock worth $342,000 after buying an additional 266 shares during the last quarter.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.