Shares of Symbotic Inc. (NASDAQ:SYM – Get Free Report) have been given a consensus recommendation of “Hold” by the fifteen ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $39.86.
A number of analysts have recently commented on SYM shares. Craig Hallum lowered shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research report on Wednesday, November 27th. Citigroup reissued a “buy” rating and set a $37.00 price target on shares of Symbotic in a research report on Monday. KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. TD Cowen increased their price target on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Northland Securities boosted their price target on Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th.
View Our Latest Stock Analysis on Symbotic
Symbotic Trading Up 2.7 %
Symbotic (NASDAQ:SYM – Get Free Report) last announced its earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. During the same quarter last year, the firm earned ($0.08) EPS. Symbotic’s revenue for the quarter was up 47.2% compared to the same quarter last year. On average, analysts forecast that Symbotic will post 0.12 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, insider Michael David Dunn sold 1,715 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $28.77, for a total value of $49,340.55. Following the completion of the sale, the insider now directly owns 87,922 shares in the company, valued at $2,529,515.94. The trade was a 1.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 34,188 shares in the company, valued at approximately $990,084.48. This represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,844 shares of company stock valued at $3,268,431 over the last ninety days. 38.30% of the stock is currently owned by company insiders.
Institutional Trading of Symbotic
A number of institutional investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board raised its position in shares of Symbotic by 191.5% in the second quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after buying an additional 509,700 shares in the last quarter. Geode Capital Management LLC grew its position in Symbotic by 10.2% during the third quarter. Geode Capital Management LLC now owns 503,758 shares of the company’s stock worth $12,290,000 after buying an additional 46,721 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Symbotic during the 3rd quarter worth $1,029,000. Capital Market Strategies LLC acquired a new position in Symbotic in the 4th quarter valued at $802,000. Finally, Baillie Gifford & Co. lifted its position in shares of Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after acquiring an additional 3,410,050 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.
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