iRobot (NASDAQ:IRBT) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Monday.
IRBT has been the topic of a number of other reports. Piper Jaffray Companies decreased their target price on iRobot to $82.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. Zacks Investment Research lowered iRobot from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. Raymond James lowered iRobot from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 10th. They noted that the move was a valuation call. Canaccord Genuity reissued a “hold” rating and set a $80.00 target price on shares of iRobot in a report on Wednesday, July 25th. Finally, Needham & Company LLC raised iRobot from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Wednesday, October 24th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $86.67.
IRBT stock opened at $97.01 on Monday. The company has a market cap of $2.63 billion, a P/E ratio of 54.81, a price-to-earnings-growth ratio of 1.71 and a beta of 1.73. iRobot has a 1-year low of $55.77 and a 1-year high of $118.75.
iRobot (NASDAQ:IRBT) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.64. The business had revenue of $264.50 million for the quarter, compared to analyst estimates of $245.12 million. iRobot had a return on equity of 15.95% and a net margin of 6.52%. The firm’s revenue was up 28.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 EPS. Analysts anticipate that iRobot will post 2.68 earnings per share for the current fiscal year.
In related news, EVP Russell J. Campanello sold 48,582 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $110.63, for a total value of $5,374,626.66. Following the completion of the sale, the executive vice president now directly owns 86,050 shares in the company, valued at approximately $9,519,711.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Glen Daniel Weinstein sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $96.77, for a total value of $967,700.00. The disclosure for this sale can be found here. Insiders sold a total of 169,406 shares of company stock valued at $18,014,443 over the last 90 days. 3.51% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in iRobot by 74.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,556 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 663 shares during the period. Modera Wealth Management LLC bought a new stake in iRobot in the 2nd quarter valued at $227,000. Schwab Charles Investment Management Inc. boosted its stake in iRobot by 9.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 182,404 shares of the industrial products company’s stock valued at $13,821,000 after purchasing an additional 15,134 shares during the period. LLBH Private Wealth Management LLC bought a new stake in iRobot in the 2nd quarter valued at $231,000. Finally, Sturgeon Ventures LLP boosted its stake in iRobot by 6.6% in the 2nd quarter. Sturgeon Ventures LLP now owns 96,884 shares of the industrial products company’s stock valued at $7,362,000 after purchasing an additional 5,984 shares during the period. Institutional investors and hedge funds own 83.21% 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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