iRobot Corp. (IRBT) Earns “Hold” Rating from Needham & Company LLC
Several other equities analysts also recently weighed in on the stock. Dougherty & Co began coverage on shares of iRobot Corp. in a report on Thursday, November 17th. They set a buy rating and a $65.00 target price for the company. Sidoti began coverage on shares of iRobot Corp. in a report on Monday, November 14th. They set a neutral rating and a $56.00 target price for the company. Benchmark Co. raised their target price on shares of iRobot Corp. from $52.00 to $64.00 and gave the company a buy rating in a report on Monday, November 14th. JPMorgan Chase & Co. set a $44.00 target price on shares of iRobot Corp. and gave the company a sell rating in a report on Friday, November 11th. Finally, Zacks Investment Research upgraded shares of iRobot Corp. from a hold rating to a buy rating and set a $55.00 target price for the company in a report on Thursday, October 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $49.20.
iRobot Corp. (NASDAQ:IRBT) opened at 57.68 on Friday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 34.83 and a beta of 1.16. The stock has a 50 day moving average of $49.36 and a 200 day moving average of $41.44. iRobot Corp. has a one year low of $28.02 and a one year high of $56.16.
iRobot Corp. (NASDAQ:IRBT) last posted its earnings results on Tuesday, October 25th. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.27. iRobot Corp. had a net margin of 7.27% and a return on equity of 12.40%. The firm earned $168.61 million during the quarter, compared to the consensus estimate of $156.96 million. During the same period last year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. Analysts forecast that iRobot Corp. will post $1.41 earnings per share for the current year.
In related news, CFO Alison Dean sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $43.42, for a total value of $477,620.00. Following the sale, the chief financial officer now directly owns 84,045 shares of the company’s stock, valued at $3,649,233.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Glen Daniel Weinstein sold 2,018 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $49.99, for a total transaction of $100,879.82. Following the completion of the sale, the executive vice president now directly owns 67,607 shares in the company, valued at $3,379,673.93. The disclosure for this sale can be found here. 5.53% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in IRBT. TrimTabs Asset Management LLC acquired a new position in shares of iRobot Corp. during the second quarter worth $1,414,000. Capital Fund Management S.A. acquired a new position in shares of iRobot Corp. during the second quarter worth $333,000. Bank of Montreal Can acquired a new position in shares of iRobot Corp. during the second quarter worth $268,000. Daiwa Securities Group Inc. boosted its position in shares of iRobot Corp. by 116.5% in the second quarter. Daiwa Securities Group Inc. now owns 19,700 shares of the company’s stock worth $691,000 after buying an additional 10,600 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its position in shares of iRobot Corp. by 418.1% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 41,696 shares of the company’s stock worth $1,462,000 after buying an additional 33,648 shares during the period. 79.95% of the stock is currently owned by institutional investors and hedge funds.
About iRobot Corp.
iRobot Corporation is engaged in designing and building robots. The Company’s portfolio of solutions focus on technologies for the connected home and concepts in navigation, mobility, mapping and artificial intelligence. The Company operates through consumer robots segment. It designs robots for the consumer, telemedicine and mobile video collaboration markets.
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