Symbotic’s (SYM) Sell Rating Reaffirmed at BWS Financial

BWS Financial restated their sell rating on shares of Symbotic (NASDAQ:SYM) in a research note issued to investors on Tuesday morning,Benzinga reports. BWS Financial currently has a $10.00 target price on the stock.

A number of other research firms have also recently commented on SYM. The Goldman Sachs Group cut their price target on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Northland Securities lifted their price target on shares of Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a report on Tuesday. Citigroup decreased their target price on Symbotic from $62.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, KeyCorp increased their price target on Symbotic from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Symbotic currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.31.

Symbotic Price Performance

Symbotic stock opened at $38.79 on Tuesday. The firm has a market capitalization of $22.71 billion, a P/E ratio of -646.42 and a beta of 1.81. Symbotic has a 1-year low of $17.11 and a 1-year high of $59.82. The company’s 50-day moving average is $28.08 and its 200 day moving average is $31.15.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a positive return on equity of 6.54% and a negative net margin of 0.32%. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. Research analysts anticipate that Symbotic will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Symbotic

In related news, CFO Carol J. Hibbard sold 22,821 shares of Symbotic stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 34,188 shares in the company, valued at $990,084.48. This trade represents a 40.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00. Following the transaction, the director now owns 214,036 shares in the company, valued at $4,013,175. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,878 shares of company stock worth $1,378,056 over the last three months. Corporate insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

A number of large investors have recently made changes to their positions in SYM. Vanguard Group Inc. increased its holdings in Symbotic by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock worth $109,189,000 after buying an additional 345,386 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Symbotic by 191.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after acquiring an additional 509,700 shares during the last quarter. Comerica Bank increased its stake in shares of Symbotic by 1,347.0% in the first quarter. Comerica Bank now owns 16,641 shares of the company’s stock worth $749,000 after acquiring an additional 15,491 shares during the period. Baillie Gifford & Co. raised its holdings in shares of Symbotic by 32.0% during the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after purchasing an additional 3,410,050 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Symbotic by 6,694.5% during the second quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock valued at $11,801,000 after purchasing an additional 330,709 shares during the period.

About Symbotic

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.