Robert W. Baird Increases Symbotic (NASDAQ:SYM) Price Target to $32.00

Symbotic (NASDAQ:SYM – Get Rating) had its target price lifted by Robert W. Baird from $28.00 to $32.00 in a research note published on Monday morning, The Fly reports.

SYM has been the topic of a number of other research reports. Raymond James increased their price target on Symbotic from $23.00 to $35.00 in a research note on Tuesday, May 2nd. Craig Hallum started coverage on Symbotic in a research note on Monday, April 17th. They issued a buy rating and a $35.00 price target on the stock. Citigroup increased their price target on Symbotic from $16.00 to $32.00 and gave the company a buy rating in a research note on Monday, April 10th. Cantor Fitzgerald increased their price target on Symbotic from $24.00 to $35.00 and gave the company an overweight rating in a research note on Thursday, April 20th. Finally, Needham & Company LLC raised their price objective on Symbotic from $25.00 to $31.00 in a research note on Tuesday, May 2nd. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Symbotic presently has an average rating of Moderate Buy and a consensus price target of $28.77.

Symbotic Stock Performance

Shares of SYM opened at $35.34 on Monday. The firm has a market capitalization of $19.63 billion, a price-to-earnings ratio of -100.97 and a beta of 1.31. The business’s fifty day moving average price is $26.28 and its two-hundred day moving average price is $18.05. Symbotic has a 52 week low of $8.75 and a 52 week high of $35.68.

Symbotic (NASDAQ:SYM – Get Rating) last posted its quarterly earnings results on Monday, May 1st. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The company had revenue of $266.85 million during the quarter, compared to analyst estimates of $224.82 million. Symbotic had a negative net margin of 2.26% and a negative return on equity of 78.17%. The business’s revenue for the quarter was up 177.2% compared to the same quarter last year. During the same period last year, the company earned ($5.61) EPS. As a group, research analysts forecast that Symbotic will post -0.28 EPS for the current year.

Insider Activity

In related news, Director Rollin L. Ford acquired 8,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was bought at an average price of $24.70 per share, for a total transaction of $197,600.00. Following the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at $197,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Rollin L. Ford acquired 8,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was bought at an average price of $24.70 per share, for a total transaction of $197,600.00. Following the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at $197,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael David Dunn sold 2,815 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $23.29, for a total value of $65,561.35. Following the completion of the transaction, the insider now owns 146,819 shares of the company’s stock, valued at approximately $3,419,414.51. The disclosure for this sale can be found here. Insiders sold 62,188 shares of company stock worth $1,817,565 in the last quarter. Corporate insiders own 41.00% of the company’s stock.

Hedge Funds Weigh In On Symbotic

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Holdings Inc. grew its holdings in Symbotic by 30.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 4,299 shares of the company’s stock worth $52,000 after purchasing an additional 1,002 shares during the period. JPMorgan Chase & Co. grew its holdings in Symbotic by 1,412.0% during the first quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock worth $35,000 after purchasing an additional 1,412 shares during the period. Rockefeller Capital Management L.P. bought a new position in Symbotic during the fourth quarter worth about $29,000. Arcadia Investment Management Corp MI bought a new position in Symbotic during the first quarter worth about $58,000. Finally, Toronto Dominion Bank bought a new position in Symbotic during the fourth quarter worth about $36,000. Institutional investors own 57.76% of the company’s stock.

About Symbotic

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Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.