JPMorgan Chase & Co. Upgrades iRobot (IRBT) to Neutral

iRobot (NASDAQ:IRBT) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued to investors on Friday. The brokerage presently has a $61.00 price objective on the industrial products company’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 5.35% from the company’s current price.

IRBT has been the subject of several other reports. Dougherty & Co reissued a “neutral” rating on shares of iRobot in a research report on Thursday, October 26th. Zacks Investment Research raised iRobot from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of iRobot in a research report on Thursday, October 26th. BidaskClub raised iRobot from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 18th. Finally, Sidoti raised iRobot from a “neutral” rating to a “buy” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $68.80.

iRobot (IRBT) opened at $57.90 on Friday. The stock has a market capitalization of $1,613.96, a PE ratio of 30.00, a P/E/G ratio of 1.05 and a beta of 0.94. iRobot has a fifty-two week low of $53.42 and a fifty-two week high of $109.78.

iRobot (NASDAQ:IRBT) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.25 by $0.29. iRobot had a return on equity of 12.62% and a net margin of 5.77%. The firm had revenue of $327.00 million during the quarter, compared to analysts’ expectations of $319.02 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The business’s quarterly revenue was up 53.9% compared to the same quarter last year. equities analysts expect that iRobot will post 2.77 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 the company. BlackRock Inc. lifted its position in shares of iRobot by 3.4% in the fourth quarter. BlackRock Inc. now owns 3,778,273 shares of the industrial products company’s stock valued at $289,792,000 after buying an additional 123,764 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of iRobot by 47.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 978,328 shares of the industrial products company’s stock valued at $75,038,000 after buying an additional 315,233 shares during the last quarter. State Street Corp lifted its position in shares of iRobot by 46.1% in the second quarter. State Street Corp now owns 931,248 shares of the industrial products company’s stock valued at $78,353,000 after buying an additional 293,988 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in shares of iRobot by 106.3% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 689,707 shares of the industrial products company’s stock valued at $52,900,000 after buying an additional 355,441 shares during the last quarter. Finally, Pictet Asset Management Ltd. lifted its position in shares of iRobot by 1.1% in the third quarter. Pictet Asset Management Ltd. now owns 529,204 shares of the industrial products company’s stock valued at $40,780,000 after buying an additional 5,507 shares during the last quarter. 81.30% of the stock is owned by institutional investors.

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iRobot Company Profile

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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