Argus Issues a Downgrade for Symantec (NASDAQ:SYMC) from a Buy to Hold Rating


Symantec (NASDAQ:SYMC) Receives a Downgrade

In recent note issued on Friday morning, Argus downgraded shares of Symantec (NASDAQ:SYMC) to a lower Hold rating from the previous Buy rating.

From a total of 20 analysts covering Symantec (NASDAQ:SYMC) stock, 4 rate it a ”Buy”, 2 a “Sell”, and 23 a ”Hold”. This means that 14% of the ratings are positive. The highest target price is $25 while the lowest target price is $19. The mean of all analyst targets is $23.25 with a 22.43% above today’s ($19.71) stock price. Symantec was the topic of 14 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. FBR Capital maintained shares on November 5 with “Mkt Perform” rating. RBC Capital Markets maintained shares with “Sector Perform” rating and $24 target share price in a report from an August 12. Zacks upgraded SYMC stock in a recent report from August 17 to “Sell” rating. S&P Research maintained the rating on August 12. S&P Research has a “Buy” rating and a $27 price target on shares. Finally, Morgan Stanley upgraded the stock to “Equal Weight” rating in a report issued on an August 21.

The stock increased 0.25% or $0.05 on December 3, striking $19.71. Approximately shares of stock traded hands. Symantec Corporation (NASDAQ:SYMC) has declined 21.60% since May 1, 2015 and is downtrending. It has underperformed by 18.82% the S&P500.

Symantec Corporation provides security, backup and availability solutions. The company has a market cap of $13.31 billion. The Firm operates in three divisions: Consumer Security, Enterprise Security, and Information Management. It has 20.34 P/E ratio. The Company’s services and products offer protection of information in any environment from the mobile device, to the enterprise data center, to cloud systems.

According to Zacks Investment Research, “Symantec, a world leader in Internet security technology, provides a broad range of content security solutions to individuals and companies. The company is a leading provider of anti-virus protection, Internet content and e-mail filtering, and mobile code detection technologies to enterprise customers.” Get a free copy of the Zacks research report on Symantec Corporation (SYMC).