Barclays Increases Symbotic (NASDAQ:SYM) Price Target to $44.00

Symbotic (NASDAQ:SYM) had its target price hoisted by equities research analysts at Barclays from $42.00 to $44.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price would suggest a potential downside of 13.38% from the company’s previous close.

Several other research analysts have also commented on the company. Robert W. Baird lifted their price objective on shares of Symbotic from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Northland Securities set a $73.00 target price on Symbotic in a research note on Thursday, February 5th. Citigroup reissued an “outperform” rating on shares of Symbotic in a research note on Thursday, February 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Symbotic in a report on Thursday, January 22nd. Finally, Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.71.

Symbotic Stock Performance

SYM stock traded up $1.37 during mid-day trading on Monday, hitting $50.80. The company had a trading volume of 368,215 shares, compared to its average volume of 1,862,011. The firm has a market cap of $30.59 billion, a PE ratio of -507.67, a price-to-earnings-growth ratio of 4.96 and a beta of 2.13. The stock’s fifty day moving average price is $58.68 and its two-hundred day moving average price is $60.85. Symbotic has a 12 month low of $16.32 and a 12 month high of $87.88.

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

Insider Buying and Selling at Symbotic

In other Symbotic news, CTO James Kuffner sold 77,321 shares of Symbotic stock in a transaction on Monday, January 26th. The stock was sold at an average price of $59.76, for a total transaction of $4,620,702.96. Following the completion of the transaction, the chief technology officer owned 144,982 shares in the company, valued at approximately $8,664,124.32. The trade was a 34.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William M. Boyd III sold 15,000 shares of the firm’s 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 193,492 shares of company stock valued at $11,449,123. 8.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Symbotic

A number of hedge funds have recently added to or reduced their stakes in the stock. MAI Capital Management increased its position in Symbotic by 833.3% in the third quarter. MAI Capital Management now owns 560 shares of the company’s stock worth $30,000 after buying an additional 500 shares in the last quarter. IAG Wealth Partners LLC purchased a new stake in Symbotic in the 2nd quarter worth approximately $32,000. Parkside Financial Bank & Trust increased its holdings in Symbotic by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after acquiring an additional 268 shares in the last quarter. Quarry LP bought a new stake in Symbotic during the 4th quarter worth approximately $36,000. Finally, Parallel Advisors LLC lifted its holdings in Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after purchasing an additional 249 shares in 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.