Symbotic Inc. (NASDAQ:SYM) Receives Consensus Rating of “Hold” from Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have been assigned an average recommendation of “Hold” from the eighteen brokerages that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $56.7857.

SYM has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Symbotic in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a research report on Tuesday, November 25th. Needham & Company LLC boosted their price target on Symbotic from $57.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Robert W. Baird increased their price target on Symbotic from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Finally, Northcoast Research lowered Symbotic from a “buy” rating to a “neutral” rating in a report on Tuesday, November 25th.

Insider Activity at Symbotic

In related news, Director Merline Saintil sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $84.72, for a total transaction of $762,480.00. Following the sale, the director owned 68,413 shares of the company’s stock, valued at $5,795,949.36. The trade was a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William M. Boyd III sold 15,000 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. The SEC filing for this sale provides additional information. Insiders sold 7,065,981 shares of company stock worth $377,394,265 in the last three months. Insiders own 0.60% of the company’s stock.

Institutional Trading of Symbotic

A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in Symbotic by 28.8% in the first quarter. Royal Bank of Canada now owns 84,856 shares of the company’s stock worth $1,714,000 after buying an additional 18,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Symbotic by 15.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock worth $1,716,000 after acquiring an additional 11,098 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Symbotic by 24.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company’s stock worth $69,000 after acquiring an additional 342 shares during the last quarter. AdvisorNet Financial Inc acquired a new stake in shares of Symbotic during the second quarter worth $32,000. Finally, Perigon Wealth Management LLC purchased a new stake in shares of Symbotic during the second quarter valued at $988,000.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $62.08 on Friday. The firm has a market capitalization of $36.72 billion, a PE ratio of -413.87, a P/E/G ratio of 17.61 and a beta of 2.13. Symbotic has a 1-year low of $16.32 and a 1-year high of $87.88. The business’s fifty day moving average price is $64.46 and its two-hundred day moving average price is $59.92.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Monday, November 24th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $618.46 million for the quarter, compared to the consensus estimate of $604.00 million. Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 EPS. Equities research analysts expect that Symbotic will post 0.13 earnings per share for the current fiscal year.

About Symbotic

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.