Symantec (NASDAQ:SYMC) had its price objective lowered by equities researchers at Stifel Nicolaus from $27.00 to $26.00 in a research note issued on Thursday. The firm presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ target price suggests a potential downside of 4.52% from the stock’s current price.
A number of other equities analysts have also commented on the stock. Robert W. Baird restated a “hold” rating on shares of Symantec in a research report on Thursday. Evercore ISI restated a “hold” rating and issued a $25.00 price target on shares of Symantec in a research report on Thursday. Credit Suisse Group lowered shares of Symantec from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $30.00 in a research report on Monday, January 22nd. Zacks Investment Research lowered shares of Symantec from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 20th. Finally, Jefferies Group lowered shares of Symantec from a “hold” rating to an “underperform” rating and reduced their price target for the company from $30.00 to $23.00 in a research report on Thursday, January 18th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $31.67.
Symantec (NASDAQ:SYMC) opened at $27.23 on Thursday. The company has a market cap of $16,503.92, a PE ratio of -68.07, a price-to-earnings-growth ratio of 2.69 and a beta of 1.08. Symantec has a 12-month low of $25.65 and a 12-month 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, CFO Nicholas R. Noviello sold 375,000 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Francis C. Rosch sold 57,103 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 325,026 shares of the company’s stock, valued at $8,912,212.92. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of SYMC. Proficio Capital Partners bought a new stake in shares of Symantec during the fourth quarter worth approximately $0. Americafirst Capital Management LLC bought a new stake in shares of Symantec during the second quarter worth approximately $109,000. Tower Research Capital LLC TRC raised its stake in shares of Symantec by 339.8% during the second quarter. Tower Research Capital LLC TRC now owns 5,317 shares of the technology company’s stock worth $109,000 after buying an additional 4,108 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Symantec by 7.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock worth $112,000 after buying an additional 292 shares during the last quarter. Finally, BKS Advisors LLC bought a new stake in shares of Symantec during the third quarter worth approximately $113,000. 94.86% of the stock is owned by institutional investors and hedge funds.
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Symantec Company Profile
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.
