iRobot (NASDAQ:IRBT) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of iRobot (NASDAQ:IRBT) from a buy rating to a hold rating in a research report released on Tuesday, February 13th.

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.”

A number of other equities analysts have also recently commented on IRBT. Sidoti cut shares of iRobot from a buy rating to a neutral rating in a research note on Tuesday, January 30th. Piper Jaffray Companies decreased their price objective on shares of iRobot to $69.00 and set a neutral rating for the company in a report on Wednesday, October 25th. Canaccord Genuity reiterated a hold rating and set a $65.00 price objective (down previously from $95.00) on shares of iRobot in a report on Thursday, October 26th. BidaskClub upgraded shares of iRobot from a buy rating to a strong-buy rating in a report on Thursday, January 18th. Finally, Citigroup initiated coverage on shares of iRobot in a report on Monday, December 4th. They issued a neutral rating and a $74.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $68.80.

iRobot (IRBT) traded down $0.71 on Tuesday, reaching $65.03. 895,200 shares of the company’s stock traded hands, compared to its average volume of 1,368,490. The company has a market capitalization of $1,837.12, a P/E ratio of 38.73, a PEG ratio of 1.91 and a beta of 0.94. iRobot has a fifty-two week low of $55.77 and a fifty-two week high of $109.78.

iRobot (NASDAQ:IRBT) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.29. The firm had revenue of $327.00 million for the quarter, compared to the consensus estimate of $319.02 million. iRobot had a net margin of 5.77% and a return on equity of 12.62%. The company’s revenue was up 53.9% on a year-over-year basis. During the same period last year, the firm earned $0.45 EPS. analysts predict that iRobot will post 2.3 earnings per share for the current year.

In related news, CEO Colin M. Angle sold 45,200 shares of the company’s stock in a transaction dated 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 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 available at the SEC website. Also, Director Andrew Miller sold 441 shares of the stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $80.11, for a total transaction of $35,328.51. Following the transaction, the director now directly owns 4,670 shares of the company’s stock, valued at approximately $374,113.70. The disclosure for this sale can be found here. Insiders own 4.49% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of iRobot by 3.4% during the fourth quarter. BlackRock Inc. now owns 3,778,273 shares of the industrial products company’s stock worth $289,792,000 after purchasing an additional 123,764 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of iRobot by 47.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 978,328 shares of the industrial products company’s stock worth $75,038,000 after acquiring an additional 315,233 shares during the last quarter. State Street Corp grew its position in shares of iRobot by 46.1% during the second quarter. State Street Corp now owns 931,248 shares of the industrial products company’s stock worth $78,353,000 after acquiring an additional 293,988 shares during the last quarter. Old Mutual Global Investors UK Ltd. grew its position in shares of iRobot by 106.3% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 689,707 shares of the industrial products company’s stock worth $52,900,000 after acquiring an additional 355,441 shares during the last quarter. Finally, Pictet Asset Management Ltd. grew its position in shares of iRobot by 1.1% during the third quarter. Pictet Asset Management Ltd. now owns 529,204 shares of the industrial products company’s stock worth $40,780,000 after acquiring an additional 5,507 shares during the last quarter. 86.58% of the stock is currently owned by institutional investors and hedge funds.

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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.

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