Symbotic Inc. (NASDAQ:SYM) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Symbotic Inc. (NASDAQ:SYM) have been assigned a consensus rating of “Hold” from the seventeen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $60.5714.

A number of brokerages have weighed in on SYM. Northland Securities set a $73.00 price target on shares of Symbotic in a research report on Thursday, February 5th. Cantor Fitzgerald upped their price target on shares of Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Barclays boosted their price objective on Symbotic from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Monday, January 12th. Finally, Robert W. Baird increased their target price on Symbotic from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th.

Symbotic Trading Up 1.0%

Shares of Symbotic stock opened at $54.35 on Thursday. The business’s fifty day moving average price is $60.56 and its 200 day moving average price is $60.52. Symbotic has a twelve month low of $16.32 and a twelve month high of $87.88. The stock has a market capitalization of $32.73 billion, a P/E ratio of -543.45, a PEG ratio of 5.39 and a beta of 2.13.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The firm had revenue of $629.99 million during the quarter, compared to analysts’ expectations of $622.58 million. During the same quarter last year, the business earned ($0.03) earnings per share. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. As a group, sell-side analysts predict that Symbotic will post 0.13 EPS for the current year.

Insider Buying and Selling

In related news, Director Rollin L. Ford sold 60,000 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $57.51, for a total transaction of $3,450,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $53.73, for a total transaction of $214,920.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,204,212 shares of company stock valued at $385,123,962 over the last three months. Company insiders own 8.16% of the company’s stock.

Hedge Funds Weigh In On Symbotic

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Trust Co. NA increased its position in shares of Symbotic by 10.0% during the second quarter. Private Trust Co. NA now owns 2,200 shares of the company’s stock worth $85,000 after acquiring an additional 200 shares during the last quarter. Centerpoint Advisors LLC grew its stake in Symbotic by 16.7% during the 3rd quarter. Centerpoint Advisors LLC now owns 1,400 shares of the company’s stock valued at $75,000 after purchasing an additional 200 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its holdings in Symbotic by 5.2% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,493 shares of the company’s stock worth $267,000 after purchasing an additional 224 shares during the last quarter. Barton Investment Management raised its position in shares of Symbotic by 0.8% in the 4th quarter. Barton Investment Management now owns 30,658 shares of the company’s stock valued at $1,824,000 after purchasing an additional 233 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Symbotic by 2.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 11,375 shares of the company’s stock valued at $677,000 after buying an additional 236 shares during the last quarter.

Symbotic Company Profile

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.