BWS Financial Reaffirms Sell Rating for Symbotic (NASDAQ:SYM)

BWS Financial restated their sell rating on shares of Symbotic (NASDAQ:SYM) in a report published on Tuesday,Benzinga reports. They currently have a $10.00 price target on the stock.

A number of other equities research analysts have also commented on SYM. KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a research note on Wednesday, November 27th. Craig Hallum downgraded Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a report on Wednesday, November 27th. Needham & Company LLC reissued a “buy” rating and issued a $35.00 price objective on shares of Symbotic in a research note on Friday, January 17th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research note on Thursday, December 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $60.00 price target on shares of Symbotic in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.73.

Symbotic Stock Up 12.3 %

Shares of NASDAQ:SYM opened at $33.43 on Tuesday. The firm has a market cap of $19.64 billion, a P/E ratio of -557.17, a P/E/G ratio of 6.88 and a beta of 1.76. Symbotic has a 12-month low of $17.11 and a 12-month high of $52.20. The business has a fifty day simple moving average of $27.85 and a 200 day simple moving average of $27.39.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The company had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. During the same period last year, the company earned ($0.08) earnings per share. The firm’s revenue was up 47.2% compared to the same quarter last year. As a group, equities research analysts expect that Symbotic will post 0.14 EPS for the current year.

Insider Activity at Symbotic

In other Symbotic news, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total value of $660,896.16. Following the completion of the sale, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. This represents a 40.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael David Dunn sold 1,715 shares of Symbotic stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $28.77, for a total transaction of $49,340.55. Following the transaction, the insider now directly owns 87,922 shares in the company, valued at approximately $2,529,515.94. This represents a 1.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,958 shares of company stock valued at $3,690,570. 38.30% of the stock is owned by corporate insiders.

Institutional Trading of Symbotic

A number of hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in Symbotic during the fourth quarter valued at about $559,000. Bourne Lent Asset Management Inc. grew its position in shares of Symbotic by 34.8% during the 4th quarter. Bourne Lent Asset Management Inc. now owns 87,210 shares of the company’s stock valued at $2,068,000 after acquiring an additional 22,500 shares during the period. MCF Advisors LLC purchased a new stake in shares of Symbotic during the 4th quarter worth approximately $85,000. Bouvel Investment Partners LLC bought a new stake in shares of Symbotic in the 4th quarter worth approximately $1,056,000. Finally, Armstrong Advisory Group Inc. grew its holdings in Symbotic by 122.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 11,782 shares of the company’s stock valued at $279,000 after purchasing an additional 6,479 shares during the period.

Symbotic Company Profile

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.