Symbotic (NASDAQ:SYM) Stock Rating Lowered by Wall Street Zen

Symbotic (NASDAQ:SYM) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

SYM has been the subject of several other reports. Oppenheimer restated an “outperform” rating and set a $83.00 target price on shares of Symbotic in a research report on Tuesday, November 25th. Cantor Fitzgerald boosted their price objective on shares of Symbotic from $60.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Needham & Company LLC lifted their price target on shares of Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Finally, UBS Group set a $70.00 price target on shares of Symbotic in a report on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Symbotic currently has a consensus rating of “Hold” and an average target price of $60.57.

Symbotic Stock Performance

Shares of Symbotic stock opened at $54.78 on Friday. The firm has a fifty day moving average of $60.34 and a two-hundred day moving average of $60.61. The stock has a market capitalization of $32.99 billion, a price-to-earnings ratio of -547.75, a PEG ratio of 5.49 and a beta of 2.13. Symbotic has a 52 week low of $16.32 and a 52 week high of $87.88.

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

Insider Buying and Selling

In other news, Director Todd Krasnow sold 4,000 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $53.73, for a total transaction of $214,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Maria G. Freve sold 8,306 shares of the firm’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $55.11, for a total value of $457,743.66. Following the completion of the transaction, the insider owned 539 shares of the company’s stock, valued at $29,704.29. The trade was a 93.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 7,190,533 shares of company stock valued at $383,891,335. Corporate insiders own 8.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SYM. MAI Capital Management raised its stake in shares of Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares in the last quarter. IAG Wealth Partners LLC bought a new stake in Symbotic during the second quarter worth $32,000. Parkside Financial Bank & Trust lifted its stake in Symbotic by 100.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock valued at $32,000 after acquiring an additional 268 shares during the last quarter. Quarry LP bought a new position in shares of Symbotic in the 4th quarter valued at about $36,000. Finally, Parallel Advisors LLC grew its position in shares of Symbotic by 67.3% in the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after acquiring an additional 249 shares during the period.

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.