iRobot (IRBT) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of iRobot (NASDAQ:IRBT) from a buy rating to a hold rating in a report issued on Tuesday.

According to Zacks, “Over the last three months, iRobot’s shares have underperformed and looks overvalued compared to the industry. Lingering headwinds such as stiff industry rivalry or a sudden supply chain issue might hurt the company’s near-term revenues and profitability. However, iRobot reported robust fourth-quarter 2017 results. Quarterly adjusted earnings of 54 cents per share surpassed the Zacks Consensus Estimate of 26 cents. This upside stemmed from a solid home robotics business in all end markets across the United States, Europe and the EMEA region. The company believes sturdy demand, new innovation investments and Robopolis integration moves will continue to boost its results in the quarters ahead.”

Other equities research analysts also recently issued reports about the stock. Sidoti downgraded shares of iRobot from a buy rating to a neutral rating in a research report on Tuesday, January 30th. Piper Jaffray Companies reiterated a neutral rating on shares of iRobot in a research report on Thursday, February 8th. BidaskClub downgraded shares of iRobot from a strong-buy rating to a buy rating in a research report on Tuesday, January 9th. JPMorgan Chase & Co. upgraded shares of iRobot from an underweight rating to a neutral rating and set a $61.00 price target for the company in a research report on Friday, February 9th. Finally, UBS Group upgraded shares of iRobot from a market perform rating to an outperform rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $68.80.

iRobot (NASDAQ IRBT) traded up $1.59 during midday trading on Tuesday, hitting $65.95. 937,100 shares of the stock were exchanged, compared to its average volume of 1,410,631. iRobot has a 52 week low of $55.11 and a 52 week high of $109.78. The firm has a market capitalization of $1,794.01, a P/E ratio of 37.26, a price-to-earnings-growth ratio of 1.29 and a beta of 0.94.

iRobot (NASDAQ:IRBT) last released its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.29. iRobot had a net margin of 5.77% and a return on equity of 12.62%. The company had revenue of $327.00 million during the quarter, compared to the consensus estimate of $319.02 million. During the same period in the previous year, the business earned $0.45 earnings per share. The firm’s quarterly revenue was up 53.9% on a year-over-year basis. research analysts predict that iRobot will post 2.5 EPS for the current year.

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

A number of large investors have recently made changes to their positions in IRBT. Public Employees Retirement Association of Colorado bought a new position in iRobot in the fourth quarter valued at approximately $152,000. Raymond James Financial Services Advisors Inc. bought a new position in iRobot in the fourth quarter valued at approximately $226,000. Flagship Harbor Advisors LLC bought a new position in iRobot in the fourth quarter valued at approximately $236,000. Kovack Advisors Inc. bought a new position in iRobot in the fourth quarter valued at approximately $246,000. Finally, Trexquant Investment LP bought a new position in iRobot in the third quarter valued at approximately $287,000. 80.54% of the stock is currently owned by institutional investors and hedge funds.

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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.

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