BidaskClub Lowers iRobot (NASDAQ:IRBT) to Buy

BidaskClub cut shares of iRobot (NASDAQ:IRBT) from a strong-buy rating to a buy rating in a research report released on Tuesday, January 9th.

A number of other research analysts also recently weighed in on the company. Zacks Investment Research downgraded iRobot from a buy rating to a hold rating in a research note on Thursday, November 9th. Sidoti upgraded iRobot from a neutral rating to a buy rating in a research note on Friday, October 27th. Piper Jaffray Companies decreased their price target on iRobot to $69.00 and set a neutral rating for the company in a research note on Wednesday, October 25th. Canaccord Genuity restated a hold rating and issued a $65.00 price target (down from $95.00) on shares of iRobot in a research note on Thursday, October 26th. Finally, SprucePoint Capital restated a sell rating on shares of iRobot in a research note on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. iRobot currently has a consensus rating of Hold and an average target price of $70.75.

iRobot (NASDAQ:IRBT) traded up $2.57 during trading hours on Tuesday, hitting $88.79. The company had a trading volume of 990,884 shares, compared to its average volume of 940,490. The company has a market capitalization of $2,530.00, a P/E ratio of 42.08, a PEG ratio of 1.56 and a beta of 0.99. iRobot has a fifty-two week low of $52.12 and a fifty-two week high of $109.78.

iRobot (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, beating the Zacks’ consensus estimate of $0.44 by $0.16. The firm had revenue of $205.40 million during the quarter, compared to the consensus estimate of $204.52 million. iRobot had a return on equity of 12.79% and a net margin of 7.80%. The business’s revenue was up 21.8% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. sell-side analysts predict that iRobot will post 1.87 EPS for the current fiscal year.

In other news, Director Andrew Miller sold 441 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $80.11, for a total value of $35,328.51. Following the completion of the sale, the director now directly owns 4,670 shares of the company’s stock, valued at $374,113.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Colin M. Angle sold 45,200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $80.06, for a total value of $3,618,712.00. Following the completion of the sale, the chief executive officer now directly owns 534,663 shares of the company’s stock, valued at $42,805,119.78. The disclosure for this sale can be found here. Company insiders own 4.49% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRBT. Riverhead Capital Management LLC lifted its holdings in iRobot by 66.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,665 shares of the industrial products company’s stock worth $140,000 after purchasing an additional 665 shares during the last quarter. FNY Partners Fund LP acquired a new stake in iRobot during the 2nd quarter worth approximately $143,000. Flinton Capital Management LLC lifted its holdings in iRobot by 60.7% during the 2nd quarter. Flinton Capital Management LLC now owns 2,520 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 952 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in iRobot by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,621 shares of the industrial products company’s stock worth $221,000 after purchasing an additional 392 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in iRobot during the 2nd quarter worth approximately $235,000. 82.17% of the stock is owned by institutional investors.

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About iRobot

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.

Analyst Recommendations for iRobot (NASDAQ:IRBT)

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