Symbotic (NASDAQ:SYM) Earns Overweight Rating from Cantor Fitzgerald

Symbotic (NASDAQ:SYM)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports. They presently have a $60.00 price objective on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 127.53% from the company’s current price.

Other research analysts have also issued reports about the company. Citigroup restated a “buy” rating and set a $37.00 price target on shares of Symbotic in a research report on Monday, January 13th. Northland Securities lifted their target price on Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Raymond James cut shares of Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday. The Goldman Sachs Group cut their target price on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. Finally, BWS Financial reaffirmed a “sell” rating and issued a $10.00 price target on shares of Symbotic in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.33.

Symbotic Stock Performance

NASDAQ:SYM opened at $26.37 on Thursday. Symbotic has a one year low of $17.11 and a one year high of $50.40. The stock has a market cap of $15.49 billion, a PE ratio of -439.50, a P/E/G ratio of 7.29 and a beta of 1.79. The stock has a 50 day moving average price of $27.15 and a 200 day moving average price of $26.82.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. As a group, analysts predict that Symbotic will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In other Symbotic news, CFO Carol J. Hibbard sold 4,055 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total value of $124,488.50. Following the completion of the transaction, the chief financial officer now owns 44,386 shares in the company, valued at $1,362,650.20. This represents a 8.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael David Dunn sold 5,365 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $24.60, for a total value of $131,979.00. Following the completion of the transaction, the insider now owns 31,860 shares of the company’s stock, valued at approximately $783,756. This represents a 14.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,007 shares of company stock valued at $2,827,909 in the last 90 days. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Symbotic

A number of institutional investors have recently made changes to their positions in the business. Castleview Partners LLC raised its position in shares of Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. IFP Advisors Inc raised its position in shares of Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock valued at $32,000 after acquiring an additional 503 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Symbotic by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock valued at $304,000 after acquiring an additional 679 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Symbotic by 28.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock valued at $85,000 after acquiring an additional 774 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of Symbotic by 36.8% during the 3rd quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock valued at $87,000 after acquiring an additional 957 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.