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.
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