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

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

Several other equities research analysts also recently weighed in on the company. KeyCorp cut their price objective on Symbotic from $55.00 to $40.00 and set an overweight rating on the stock in a report on Tuesday, July 30th. Northland Securities lowered their target price on Symbotic from $60.00 to $50.00 and set an outperform rating for the company in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their target price on Symbotic from $58.00 to $59.00 and gave the stock a buy rating in a research report on Tuesday, July 30th. Needham & Company LLC lowered their price objective on Symbotic from $54.00 to $40.00 and set a buy rating for the company in a research report on Tuesday, July 30th. Finally, Robert W. Baird decreased their target price on Symbotic from $53.00 to $41.00 and set an outperform rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $43.23.

Symbotic Stock Performance

Shares of SYM stock opened at $24.39 on Friday. The stock’s fifty day moving average price is $24.07 and its two-hundred day moving average price is $34.84. The company has a market cap of $14.26 billion, a PE ratio of -101.63 and a beta of 1.81. Symbotic has a fifty-two week low of $17.11 and a fifty-two week high of $59.82.

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

Insider Transactions at Symbotic

In related news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total value of $37,500.00. Following the transaction, the director now owns 214,036 shares in the company, valued at $4,013,175. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider William M. Boyd III sold 8,826 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $38.71, for a total value of $341,654.46. Following the transaction, the insider now owns 23,012 shares of the company’s stock, valued at $890,794.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total transaction of $37,500.00. Following the completion of the transaction, the director now directly owns 214,036 shares in the company, valued at approximately $4,013,175. The disclosure for this sale can be found here. Insiders have sold 31,721 shares of company stock worth $893,256 in the last 90 days. Insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RFP Financial Group LLC boosted its position in Symbotic by 21.2% during the first quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock valued at $62,000 after buying an additional 242 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Symbotic by 11.6% during the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $123,000 after purchasing an additional 284 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Symbotic by 4.5% during the first quarter. California State Teachers Retirement System now owns 15,057 shares of the company’s stock worth $678,000 after purchasing an additional 654 shares during the period. The Manufacturers Life Insurance Company raised its stake in Symbotic by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after buying an additional 679 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in 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 buying an additional 800 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.