Symbotic (NASDAQ:SYM) Given “Sector Weight” Rating at KeyCorp

Symbotic (NASDAQ:SYM)‘s stock had its “sector weight” rating reiterated by investment analysts at KeyCorp in a report issued on Wednesday,Benzinga reports.

A number of other research analysts have also recently commented on the company. BWS Financial restated a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a report on Tuesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research note on Tuesday, November 19th. The Goldman Sachs Group lowered their price target on Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Craig Hallum decreased their target price on shares of Symbotic from $54.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.08.

Symbotic Trading Down 39.1 %

Shares of NASDAQ:SYM traded down $14.64 during mid-day trading on Wednesday, reaching $22.77. The company had a trading volume of 10,994,385 shares, compared to its average volume of 1,656,454. The company’s 50-day moving average price is $28.98 and its 200-day moving average price is $30.82. Symbotic has a one year low of $17.11 and a one year high of $59.82. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of -379.50 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The business 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%. The firm’s revenue was up 47.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) EPS. On average, research analysts anticipate that Symbotic will post 0.2 EPS for the current fiscal year.

Insider Transactions at Symbotic

In related news, CFO Carol J. Hibbard sold 22,821 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the completion of the transaction, the chief financial officer now owns 34,188 shares in the company, valued at $990,084.48. This trade represents a 40.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total value of $37,500.00. Following the completion of the transaction, the director now owns 214,036 shares of the company’s stock, valued at approximately $4,013,175. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,878 shares of company stock valued at $1,378,056. Corporate insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Symbotic by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after buying an additional 345,386 shares in the last quarter. Advisors Asset Management Inc. increased its position in Symbotic by 11.6% during the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $123,000 after purchasing an additional 284 shares during the last quarter. California State Teachers Retirement System raised its stake in Symbotic by 4.5% during the first quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock worth $678,000 after purchasing an additional 654 shares during the period. Comerica Bank increased its holdings in shares of Symbotic by 1,347.0% during the 1st quarter. Comerica Bank now owns 16,641 shares of the company’s stock worth $749,000 after buying an additional 15,491 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Symbotic during the 1st quarter valued at approximately $770,000.

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.