KeyCorp Increases Symbotic (NASDAQ:SYM) Price Target to $48.00

Symbotic (NASDAQ:SYM) had its price objective boosted by KeyCorp from $40.00 to $48.00 in a report issued on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

SYM has been the topic of a number of other reports. Craig Hallum dropped their price objective on shares of Symbotic from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Needham & Company LLC increased their target price on Symbotic from $40.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday. Robert W. Baird reduced their price target on Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. TD Cowen decreased their price target on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, BWS Financial reaffirmed a “sell” rating and set a $10.00 price target on shares of Symbotic in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.31.

Symbotic Trading Up 6.9 %

Symbotic stock opened at $38.79 on Tuesday. The stock’s fifty day simple moving average is $28.08 and its 200-day simple moving average is $31.15. The firm has a market capitalization of $22.71 billion, a P/E ratio of -636.17 and a beta of 1.81. Symbotic has a twelve month low of $17.11 and a twelve month high of $59.82.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a positive return on equity of 6.54% and a negative net margin of 0.32%. Symbotic’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) EPS. Sell-side analysts predict that Symbotic will post 0.33 earnings per share for the current year.

Insider Activity

In related news, insider William M. Boyd III sold 8,826 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.33, for a total value of $250,040.58. Following the completion of the sale, the insider now owns 23,012 shares of the company’s stock, valued at $651,929.96. This represents a 27.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total value of $37,500.00. Following the sale, the director now directly owns 214,036 shares in the company, valued at approximately $4,013,175. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,878 shares of company stock worth $1,378,056. 38.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Castleview Partners LLC raised its stake in Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the period. Arcadia Investment Management Corp MI acquired a new position in shares of Symbotic during the 3rd quarter worth about $49,000. RiverPark Advisors LLC grew its stake in shares of Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after acquiring an additional 1,211 shares during the last quarter. RFP Financial Group LLC lifted its stake in shares of Symbotic by 22.4% in the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after buying an additional 310 shares during the period. Finally, Quest Partners LLC increased its holdings in Symbotic by 19,307.7% in the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock valued at $62,000 after buying an additional 2,510 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.