Symantec Corporation (SYMC) Stock Rating Reaffirmed by Stifel Nicolaus

Symantec Corporation (NASDAQ:SYMC)‘s stock had its “hold” rating reissued by analysts at Stifel Nicolaus in a note issued to investors on Friday, November 3rd. They currently have a $27.00 target price on the technology company’s stock. Stifel Nicolaus’ price target would suggest a potential downside of 5.03% from the company’s current price.

A number of other equities research analysts have also weighed in on SYMC. Barclays PLC reissued an “overweight” rating and issued a $36.00 target price (down previously from $38.00) on shares of Symantec Corporation in a research note on Wednesday, August 9th. Zacks Investment Research lowered Symantec Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub lowered Symantec Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Robert W. Baird restated a “hold” rating on shares of Symantec Corporation in a report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $35.00 price target (up previously from $33.00) on shares of Symantec Corporation in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $32.39.

Symantec Corporation (NASDAQ:SYMC) traded up $0.32 during midday trading on Friday, hitting $28.43. The stock had a trading volume of 4,634,778 shares, compared to its average volume of 6,756,615. Symantec Corporation has a 12 month low of $23.34 and a 12 month high of $34.20. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $17,630.00, a price-to-earnings ratio of 44.75, a PEG ratio of 2.85 and a beta of 1.12.

Symantec Corporation (NASDAQ:SYMC) last released its earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. Symantec Corporation had a positive return on equity of 12.33% and a negative net margin of 5.29%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the company posted $0.30 EPS. Symantec Corporation’s revenue for the quarter was up 25.7% on a year-over-year basis. sell-side analysts anticipate that Symantec Corporation will post 1.05 earnings per share for the current year.

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In related news, Director Suzanne M. Vautrinot sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $32.81, for a total value of $82,025.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Amy L. Cappellanti-Wolf sold 927 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $30.00, for a total value of $27,810.00. Following the completion of the sale, the senior vice president now owns 112,907 shares in the company, valued at approximately $3,387,210. The disclosure for this sale can be found here. Insiders sold a total of 671,985 shares of company stock worth $20,028,343 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its position in Symantec Corporation by 7.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after acquiring an additional 292 shares in the last quarter. Sun Life Financial INC lifted its position in Symantec Corporation by 44,100.0% in the 2nd quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after acquiring an additional 4,410 shares in the last quarter. Harfst & Associates Inc. bought a new position in Symantec Corporation in the 2nd quarter valued at approximately $127,000. Johnson Financial Group Inc. lifted its position in Symantec Corporation by 6.2% in the 2nd quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock valued at $158,000 after acquiring an additional 325 shares in the last quarter. Finally, United Bank Inc. bought a new position in Symantec Corporation in the 3rd quarter valued at approximately $200,000. 85.64% of the stock is currently owned by institutional investors and hedge funds.

About Symantec Corporation

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.

Analyst Recommendations for Symantec Corporation (NASDAQ:SYMC)

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