Robert W. Baird Increases Symbotic (NASDAQ:SYM) Price Target to $53.00

Symbotic (NASDAQ:SYM) had its price objective lifted by Robert W. Baird from $52.00 to $53.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 9.59% from the company’s previous close.

Other analysts also recently issued reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $54.00 price objective on shares of Symbotic in a research report on Tuesday. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Wednesday, February 7th. KeyCorp decreased their price objective on shares of Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, February 6th. Northland Securities increased their target price on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group decreased their price target on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.69.

Symbotic Stock Up 4.0 %

Shares of SYM opened at $48.36 on Tuesday. Symbotic has a 52 week low of $23.58 and a 52 week high of $64.14. The stock has a market cap of $27.91 billion, a P/E ratio of -179.11 and a beta of 1.97. The business’s 50 day moving average price is $43.30 and its 200-day moving average price is $44.25.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, February 5th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $368.45 million for the quarter, compared to analysts’ expectations of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. On average, equities analysts anticipate that Symbotic will post -0.03 EPS for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, insider William M. Boyd III sold 8,825 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $40.34, for a total transaction of $356,000.50. Following the completion of the sale, the insider now directly owns 23,012 shares of the company’s stock, valued at $928,304.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider William M. Boyd III sold 8,825 shares of Symbotic stock in a transaction on Friday, April 26th. The stock was sold at an average price of $40.34, for a total transaction of $356,000.50. Following the transaction, the insider now directly owns 23,012 shares in the company, valued at $928,304.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $39.39, for a total value of $78,780.00. Following the completion of the sale, the director now owns 10,447 shares of the company’s stock, valued at approximately $411,507.33. The disclosure for this sale can be found here. Insiders sold a total of 7,110,447 shares of company stock worth $275,410,529 in the last three months. 38.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Symbotic

Several large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp purchased a new stake in shares of Symbotic in the fourth quarter worth $26,000. Providence Capital Advisors LLC purchased a new stake in Symbotic in the 3rd quarter worth $33,000. RiverPark Advisors LLC bought a new stake in Symbotic during the first quarter valued at about $37,000. Global Retirement Partners LLC lifted its position in shares of Symbotic by 166.7% in the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after acquiring an additional 660 shares in the last quarter. Finally, Pingora Partners LLC purchased a new stake in shares of Symbotic during the fourth quarter worth about $51,000.

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.