Symbotic Inc. (NASDAQ:SYM) Stock Rated “Hold” by Wall Street Brokerages

Symbotic Inc. (NASDAQ:SYM) has earned an average recommendation of “Hold” from the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $65.45.

Several research firms recently issued reports on SYM. Needham & Company LLC reduced their price objective on shares of Symbotic from C$75.00 to C$60.00 and set a “buy” rating for the company in a research note on Tuesday, September 15th. Robert W. Baird set a $51.00 target price on shares of Symbotic in a research report on Thursday, August 6th. Barclays cut their price target on Symbotic from $44.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, September 8th. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings raised Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 21st.

Insider Buying and Selling

In related news, insider William M. Boyd III sold 9,194 shares of Symbotic stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $41.04, for a total transaction of $377,321.76. Following the completion of the transaction, the insider directly owned 57,112 shares of the company’s stock, valued at $2,343,876.48. This trade represents a 13.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Kane sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $43.17, for a total transaction of $86,340.00. Following the completion of the transaction, the director owned 89,852 shares in the company, valued at approximately $3,878,910.84. This trade represents a 2.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 80,970 shares of company stock worth $3,311,686 in the last three months. Company insiders own 8.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its position in Symbotic by 15.6% during the 4th quarter. BNP Paribas Financial Markets now owns 330,320 shares of the company’s stock worth $19,654,000 after acquiring an additional 44,690 shares during the last quarter. USS Investment Management Ltd bought a new position in Symbotic in the 1st quarter valued at $15,004,000. Sei Investments Co. boosted its stake in Symbotic by 21.0% in the first quarter. Sei Investments Co. now owns 144,420 shares of the company’s stock worth $7,683,000 after purchasing an additional 25,024 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Symbotic by 26.6% in the first quarter. Dimensional Fund Advisors LP now owns 109,015 shares of the company’s stock worth $5,789,000 after purchasing an additional 22,895 shares in the last quarter. Finally, Amundi grew its holdings in shares of Symbotic by 68.5% during the first quarter. Amundi now owns 108,553 shares of the company’s stock worth $5,775,000 after purchasing an additional 44,132 shares during the last quarter.

Symbotic Stock Performance

Symbotic stock opened at $44.15 on Friday. Symbotic has a twelve month low of $37.68 and a twelve month high of $87.88. The firm’s 50 day moving average price is $42.23 and its two-hundred day moving average price is $46.58. The firm has a market cap of $26.70 billion, a PE ratio of 490.56, a P/E/G ratio of 4.76 and a beta of 1.97.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $720.84 million for the quarter, compared to analyst estimates of $715.03 million. Symbotic had a net margin of 0.48% and a return on equity of 1.40%. Symbotic’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) EPS. Equities analysts anticipate that Symbotic will post 0.21 EPS for the current fiscal year.

About Symbotic

Symbotic Inc is a technology company that develops automation systems for warehouse and supply-chain operations. Its platform combines artificial intelligence, robotics, software and high-speed material-handling equipment to automate the movement, storage and retrieval of goods within large distribution centers.

The company’s solutions are designed to manage products from inbound receiving and pallet depalletizing through storage, replenishment, order assembly and outbound shipping. Symbotic’s systems use autonomous robots and software to organize inventory and build store-ready orders, helping retailers and other supply-chain operators improve warehouse utilization, throughput and operational consistency.

Symbotic primarily serves large retail and grocery distribution networks, with deployments concentrated in North America.