Symbotic (NASDAQ:SYM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Symbotic (NASDAQ:SYM) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Several other equities analysts have also commented on the company. Barclays increased their price objective on Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Monday, January 12th. Robert W. Baird increased their price target on shares of Symbotic from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Citigroup restated an “outperform” rating on shares of Symbotic in a report on Thursday. Oppenheimer reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of Symbotic in a research note on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Symbotic in a research report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.07.

Symbotic Stock Performance

Symbotic stock opened at $62.54 on Friday. Symbotic has a fifty-two week low of $16.32 and a fifty-two week high of $87.88. The stock has a market cap of $36.99 billion, a P/E ratio of -625.34, a price-to-earnings-growth ratio of 16.95 and a beta of 2.13. The firm’s fifty day moving average price is $61.96 and its 200-day moving average price is $60.47.

Symbotic (NASDAQ:SYM) last announced its 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). Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The company had revenue of $629.99 million during the quarter, compared to analysts’ expectations of $622.58 million. During the same quarter last year, the firm posted ($0.03) earnings per share. The firm’s revenue was up 29.4% on a year-over-year basis. On average, analysts predict that Symbotic will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Maria G. Freve sold 8,306 shares of the firm’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $55.11, for a total value of $457,743.66. Following the sale, the insider directly owned 539 shares of the company’s stock, valued at $29,704.29. This trade represents a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Todd Krasnow sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $53.73, for a total value of $214,920.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 7,145,878 shares of company stock worth $381,770,290. 8.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Symbotic

Several hedge funds and other institutional investors have recently modified their holdings of SYM. MAI Capital Management boosted its position in Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares in the last quarter. Ameriflex Group Inc. lifted its stake in shares of Symbotic by 1,500.0% in the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock valued at $38,000 after purchasing an additional 660 shares during the period. Strategic Advocates LLC purchased a new position in shares of Symbotic in the 3rd quarter valued at approximately $42,000. IAG Wealth Partners LLC bought a new stake in shares of Symbotic during the second quarter valued at approximately $32,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Symbotic in the fourth quarter worth $55,000.

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.