Jefferies Group Lowers Symantec (SYMC) Price Target to $20.00

Symantec (NASDAQ:SYMC) had its price objective reduced by equities researchers at Jefferies Group to $20.00 in a research report issued to clients and investors on Friday, May 11th. The firm currently has an underperform rating on the technology companys stock. Jefferies Groups price objective points to a potential downside of 7.15% from the companys current price.

A number of other brokerages have also recently issued reports on SYMC. Piper Jaffray Companies cut Symantec from an overweight rating to a neutral rating in a research report on Thursday, May 10th. First Analysis cut Symantec from an overweight rating to an equal weight rating and decreased their price objective for the stock from $35.00 to $23.00 in a research report on Friday, May 11th. Robert W. Baird reissued a hold rating and set a $25.00 target price on shares of Symantec in a research note on Friday, May 11th. UBS Group downgraded Symantec from an outperform rating to a market perform rating in a research note on Friday, May 11th. Finally, Macquarie downgraded Symantec from an outperform rating to a neutral rating in a research note on Friday, May 11th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $28.64.

Shares of Symantec traded up $0.20, reaching $21.54, during mid-day trading on Friday, according to MarketBeat.com. The companys stock had a trading volume of 6,545,854 shares, compared to its average volume of 8,173,935. Symantec has a 12-month low of $18.85 and a 12-month high of $34.20. The company has a market cap of $13.15 billion, a P/E ratio of 22.67, a PEG ratio of 2.98 and a beta of 0.81. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.15 and a current ratio of 1.11.

Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Thursday, May 10th. The technology company reported $0.46 EPS for the quarter, beating analysts consensus estimates of $0.39 by $0.07. Symantec had a return on equity of 16.24% and a net margin of 23.98%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business posted $0.28 EPS. The businesss revenue for the quarter was up 4.9% on a year-over-year basis. analysts predict that Symantec will post 0.86 earnings per share for the current fiscal year.

In other Symantec news, EVP Scott C. Taylor sold 41,284 shares of the firms stock in a transaction on Monday, April 16th. The stock was sold at an average price of $27.61, for a total transaction of $1,139,851.24. Following the completion of the transaction, the executive vice president now owns 188,426 shares of the companys stock, valued at $5,202,441.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Suzanne M. Vautrinot sold 4,000 shares of the firms stock in a transaction on Friday, March 9th. The stock was sold at an average price of $27.72, for a total value of $110,880.00. The disclosure for this sale can be found here. Company insiders own 1.30% of the companys stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Symantec during the first quarter worth $109,000. Optimum Investment Advisors acquired a new stake in shares of Symantec during the first quarter worth $129,000. Dupont Capital Management Corp boosted its holdings in shares of Symantec by 117.9% during the first quarter. Dupont Capital Management Corp now owns 5,265 shares of the technology companys stock worth $136,000 after purchasing an additional 2,849 shares during the last quarter. Delpha Capital Management LLC acquired a new stake in shares of Symantec during the fourth quarter worth $162,000. Finally, Genesee Valley Trust Co. acquired a new stake in shares of Symantec during the fourth quarter worth $209,000. 94.55% of the stock is owned by institutional investors.

This article provided by NewsEdge.