BWS Financial Reaffirms Sell Rating for Symbotic (NASDAQ:SYM)

BWS Financial reiterated their sell rating on shares of Symbotic (NASDAQ:SYM) in a report published on Friday morning, Benzinga reports. BWS Financial currently has a $10.00 price target on the stock.

A number of other research firms have also recently weighed in on SYM. Citigroup dropped their price target on Symbotic from $62.00 to $49.00 and set a buy rating for the company in a report on Tuesday, July 30th. Vertical Research initiated coverage on Symbotic in a report on Tuesday, July 23rd. They issued a hold rating and a $45.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on Symbotic from $58.00 to $59.00 and gave the company a buy rating in a research report on Tuesday, July 30th. TD Cowen lowered their target price on Symbotic from $55.00 to $43.00 and set a buy rating on the stock in a research report on Tuesday, July 30th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $60.00 price target on shares of Symbotic in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $43.23.

Symbotic Stock Up 1.6 %

NASDAQ:SYM opened at $25.52 on Friday. Symbotic has a 1-year low of $17.11 and a 1-year high of $59.82. The firm has a market capitalization of $14.92 billion, a price-to-earnings ratio of -106.33 and a beta of 1.81. The stock has a fifty day simple moving average of $24.07 and a 200 day simple moving average of $34.91.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The firm had revenue of $491.86 million for the quarter, compared to analysts’ expectations of $464.56 million. During the same period last year, the business earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 57.7% on a year-over-year basis. Equities analysts predict that Symbotic will post -0.08 earnings per share for the current year.

Insider Transactions at Symbotic

In other news, insider Michael David Dunn sold 5,188 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $35.49, for a total transaction of $184,122.12. Following the sale, the insider now directly owns 76,808 shares in the company, valued at approximately $2,725,915.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $35.49, for a total value of $70,980.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $70,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael David Dunn sold 5,188 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $35.49, for a total transaction of $184,122.12. Following the transaction, the insider now owns 76,808 shares in the company, valued at $2,725,915.92. The disclosure for this sale can be found here. Insiders have sold 38,909 shares of company stock worth $1,148,358 in the last 90 days. 38.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Symbotic

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in shares of Symbotic by 7.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the company’s stock worth $597,000 after acquiring an additional 800 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Symbotic by 170.4% in the fourth quarter. Wells Fargo & Company MN now owns 171,585 shares of the company’s stock worth $8,807,000 after buying an additional 108,126 shares in the last quarter. US Bancorp DE lifted its stake in shares of Symbotic by 434.6% in the fourth quarter. US Bancorp DE now owns 13,344 shares of the company’s stock worth $685,000 after buying an additional 10,848 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Symbotic by 201.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 17,274 shares of the company’s stock worth $887,000 after buying an additional 11,550 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Symbotic by 44.0% in the fourth quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock worth $26,190,000 after buying an additional 155,828 shares in the last quarter.

Symbotic Company Profile

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.