UBS Group Lowers Symbotic (NASDAQ:SYM) Price Target to $32.00

Symbotic (NASDAQ:SYM) had its target price decreased by stock analysts at UBS Group from $40.00 to $32.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target points to a potential upside of 24.80% from the stock’s current price.

A number of other research firms also recently commented on SYM. Northland Securities boosted their target price on shares of Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Craig Hallum downgraded Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Wednesday, November 27th. TD Cowen lifted their target price on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Needham & Company LLC reduced their target price on Symbotic from $46.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, BWS Financial reissued a “sell” rating and issued a $10.00 price target on shares of Symbotic in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.79.

Symbotic Price Performance

SYM opened at $25.64 on Friday. The stock’s 50 day moving average price is $28.58 and its 200 day moving average price is $28.03. The stock has a market cap of $15.06 billion, a P/E ratio of -427.33 and a beta of 1.73. Symbotic has a 12 month low of $17.11 and a 12 month high of $52.20.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The business had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $470.24 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The company’s revenue was up 47.2% on a year-over-year basis. Equities analysts anticipate that Symbotic will post 0.12 EPS for the current year.

Insider Activity at Symbotic

In other Symbotic news, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the completion of the transaction, the chief financial officer now owns 34,188 shares of the company’s stock, valued at $990,084.48. This represents a 40.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael David Dunn sold 63,867 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $30.08, for a total value of $1,921,119.36. Following the sale, the insider now owns 24,055 shares in the company, valued at approximately $723,574.40. This represents a 72.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,844 shares of company stock valued at $3,220,351. Insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

A number of institutional investors have recently bought and sold shares of the business. 1ST Source Bank bought a new stake in shares of Symbotic in the 3rd quarter valued at approximately $488,000. Sanctuary Advisors LLC bought a new stake in Symbotic in the third quarter valued at $1,029,000. Barclays PLC raised its stake in Symbotic by 1,105.9% during the third quarter. Barclays PLC now owns 9,346 shares of the company’s stock worth $228,000 after acquiring an additional 8,571 shares in the last quarter. TCW Group Inc. raised its stake in Symbotic by 0.8% during the third quarter. TCW Group Inc. now owns 384,274 shares of the company’s stock worth $9,372,000 after acquiring an additional 3,075 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in shares of Symbotic by 161.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 13,330 shares of the company’s stock valued at $325,000 after purchasing an additional 8,235 shares in the last quarter.

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.