iRobot Corporation (NASDAQ:IRBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, October 17th. The firm presently has a $85.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 27.49% from the stock’s previous close.
According to Zacks, “Over the last twelve months, iRobot’s shares outperformed the industry. The company reported better-than-expected second-quarter 2017 results. Quarterly earnings and revenues surpassed the Zacks Consensus Estimates by 208% and 4%, respectively. The upside was stemmed by robust home robotics business in all end markets across the U.S., China, and the EMEA region. The company believes that sturdy demand, meaningful innovation investments and the planned Robiolas buyout would boost its results in the quarters ahead. Notably, the company raised its earnings and revenue guidance for full-year 2017.”
Several other research analysts also recently weighed in on the company. BidaskClub downgraded iRobot Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. SprucePoint Capital restated a “sell” rating on shares of iRobot Corporation in a research note on Thursday, September 14th. Dougherty & Co downgraded iRobot Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 3rd. Piper Jaffray Companies upped their price target on iRobot Corporation to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 26th. They noted that the move was a valuation call. Finally, Canaccord Genuity upped their price target on iRobot Corporation from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. iRobot Corporation currently has a consensus rating of “Hold” and a consensus target price of $64.00.
iRobot Corporation (IRBT) traded up 5.20% during mid-day trading on Tuesday, reaching $66.67. The company had a trading volume of 1,954,398 shares. The firm’s 50 day moving average price is $80.18 and its 200-day moving average price is $88.07. iRobot Corporation has a 12 month low of $48.34 and a 12 month high of $109.78. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 32.70 and a beta of 1.18.
iRobot Corporation (NASDAQ:IRBT) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.16. iRobot Corporation had a return on equity of 12.79% and a net margin of 7.80%. The business had revenue of $205.40 million during the quarter, compared to the consensus estimate of $204.52 million. During the same period in the prior year, the company posted $0.70 EPS. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts anticipate that iRobot Corporation will post $1.85 earnings per share for the current year.
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In other news, Director Ronald Chwang sold 3,243 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $106.32, for a total transaction of $344,795.76. Following the completion of the transaction, the director now directly owns 22,630 shares in the company, valued at approximately $2,406,021.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Glen Daniel Weinstein sold 728 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $100.00, for a total value of $72,800.00. Following the transaction, the executive vice president now owns 68,355 shares of the company’s stock, valued at $6,835,500. The disclosure for this sale can be found here. Insiders have sold a total of 54,862 shares of company stock valued at $5,470,693 over the last quarter. Corporate insiders own 4.49% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Crossmark Global Holdings Inc. bought a new stake in iRobot Corporation in the third quarter worth $672,000. Pictet Asset Management Ltd. lifted its position in iRobot Corporation by 1.1% in the third quarter. Pictet Asset Management Ltd. now owns 529,204 shares of the industrial products company’s stock worth $40,780,000 after buying an additional 5,507 shares during the last quarter. Nationwide Fund Advisors lifted its position in iRobot Corporation by 2.3% in the third quarter. Nationwide Fund Advisors now owns 78,275 shares of the industrial products company’s stock worth $6,032,000 after buying an additional 1,760 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in iRobot Corporation by 732.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 64,827 shares of the industrial products company’s stock worth $4,996,000 after buying an additional 57,042 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in iRobot Corporation in the second quarter worth $306,000. Institutional investors own 81.76% of the company’s stock.
About iRobot Corporation
iRobot Corporation is a consumer robot company, which is engaged in designing and building robots. The Company’s portfolio of solutions features various technologies for the connected home and various concepts in mapping, navigation, mobility and artificial intelligence. The Company sells various products that are designed for use at home.
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