iRobot (IRBT) Rating Increased to Hold at ValuEngine

ValuEngine upgraded shares of iRobot (NASDAQ:IRBT) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Other equities research analysts also recently issued research reports about the company. BidaskClub raised iRobot from a hold rating to a buy rating in a report on Wednesday, May 9th. Zacks Investment Research raised iRobot from a hold rating to a buy rating and set a $64.00 target price on the stock in a report on Thursday, April 26th. Canaccord Genuity reduced their target price on iRobot from $65.00 to $63.00 and set a hold rating on the stock in a report on Thursday, April 26th. JPMorgan Chase & Co. increased their price target on iRobot from $61.00 to $62.00 and gave the company a neutral rating in a research note on Thursday, April 26th. Finally, Northland Securities initiated coverage on iRobot in a research note on Friday, February 16th. They issued an outperform rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. iRobot has an average rating of Hold and a consensus target price of $68.20.

Shares of IRBT stock opened at $78.92 on Tuesday. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 44.59, a price-to-earnings-growth ratio of 2.32 and a beta of 1.09. iRobot has a fifty-two week low of $55.77 and a fifty-two week high of $109.78.

iRobot (NASDAQ:IRBT) last issued its earnings results on Tuesday, April 24th. The industrial products company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.22. The firm had revenue of $217.10 million for the quarter, compared to the consensus estimate of $212.81 million. iRobot had a return on equity of 12.95% and a net margin of 5.90%. The company’s revenue was up 28.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. equities research analysts expect that iRobot will post 2.3 earnings per share for the current year.

iRobot declared that its Board of Directors has approved a share buyback plan on Tuesday, February 27th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

In other news, Director Andrew Miller sold 636 shares of the stock in a transaction on Monday, June 11th. The stock was sold at an average price of $69.41, for a total value of $44,144.76. Following the completion of the transaction, the director now directly owns 6,538 shares in the company, valued at approximately $453,802.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Russell J. Campanello sold 11,950 shares of the stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $896,250.00. Following the completion of the transaction, the executive vice president now owns 86,625 shares of the company’s stock, valued at $6,496,875. The disclosure for this sale can be found here. Insiders sold a total of 25,920 shares of company stock valued at $1,940,445 over the last quarter. 4.49% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James & Associates raised its position in iRobot by 6.0% during the 4th quarter. Raymond James & Associates now owns 17,513 shares of the industrial products company’s stock worth $1,343,000 after purchasing an additional 992 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in iRobot by 10.9% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 11,540 shares of the industrial products company’s stock worth $885,000 after purchasing an additional 1,130 shares during the last quarter. Swiss National Bank raised its position in iRobot by 2.5% during the 1st quarter. Swiss National Bank now owns 48,300 shares of the industrial products company’s stock worth $3,100,000 after purchasing an additional 1,200 shares during the last quarter. Xact Kapitalforvaltning AB raised its position in iRobot by 45.1% during the 1st quarter. Xact Kapitalforvaltning AB now owns 3,858 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in iRobot by 21.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 7,097 shares of the industrial products company’s stock worth $455,000 after purchasing an additional 1,254 shares during the last quarter. Institutional investors own 84.10% of the company’s stock.

iRobot Company Profile

iRobot Corporation designs, builds, and sells robots for the consumer market worldwide. It offers Roomba floor vacuuming robots; Braava family of automatic floor mopping robots; and Mirra Pool Cleaning Robot to clean residential pools and removes debris as small as two microns from pool floors, walls, and stair.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for iRobot (NASDAQ:IRBT)

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