iRobot (IRBT) Lowered to “Buy” at BidaskClub

BidaskClub cut shares of iRobot (NASDAQ:IRBT) from a strong-buy rating to a buy rating in a report published on Tuesday morning.

Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered iRobot from a buy rating to a hold rating in a research report on Wednesday, November 1st. Piper Jaffray Companies cut their price objective on iRobot to $69.00 and set a neutral rating on the stock in a research report on Wednesday, October 25th. Citigroup assumed coverage on iRobot in a research report on Monday, December 4th. They issued a neutral rating and a $74.00 price objective on the stock. Canaccord Genuity reiterated a hold rating and issued a $65.00 price objective (down from $95.00) on shares of iRobot in a research report on Thursday, October 26th. Finally, Sidoti upgraded iRobot from a neutral rating to a buy rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. iRobot has an average rating of Hold and an average price target of $70.75.

Shares of iRobot (IRBT) traded up $4.40 during trading on Tuesday, reaching $87.19. The company’s stock had a trading volume of 1,127,175 shares, compared to its average volume of 938,755. The stock has a market cap of $2,410.00, a PE ratio of 41.32, a P/E/G ratio of 1.51 and a beta of 0.99. iRobot has a 1-year low of $52.12 and a 1-year high of $109.78.

iRobot (NASDAQ:IRBT) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.16. The firm had revenue of $205.40 million for the quarter, compared to analyst estimates of $204.52 million. iRobot had a return on equity of 12.79% and a net margin of 7.80%. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period last year, the company earned $0.70 EPS. equities analysts anticipate that iRobot will post 1.85 earnings per share for the current year.

In related news, CEO Colin M. Angle sold 45,200 shares of iRobot stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $80.06, for a total transaction of $3,618,712.00. Following the sale, the chief executive officer now directly owns 534,663 shares in the company, valued at $42,805,119.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Miller sold 441 shares of iRobot stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $80.11, for a total value of $35,328.51. Following the sale, the director now owns 4,670 shares in the company, valued at $374,113.70. The disclosure for this sale can be found here. Insiders own 4.49% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its position in shares of iRobot by 4.0% during the second quarter. Amalgamated Bank now owns 3,693 shares of the industrial products company’s stock valued at $311,000 after purchasing an additional 141 shares in the last quarter. Profund Advisors LLC boosted its position in shares of iRobot by 3.5% during the second quarter. Profund Advisors LLC now owns 4,926 shares of the industrial products company’s stock valued at $414,000 after purchasing an additional 166 shares in the last quarter. Suntrust Banks Inc. boosted its position in shares of iRobot by 4.0% during the second quarter. Suntrust Banks Inc. now owns 4,594 shares of the industrial products company’s stock valued at $386,000 after purchasing an additional 175 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of iRobot by 1.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 21,380 shares of the industrial products company’s stock valued at $1,799,000 after purchasing an additional 261 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of iRobot by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,621 shares of the industrial products company’s stock valued at $221,000 after purchasing an additional 392 shares in the last quarter. Institutional investors own 82.16% of the company’s stock.

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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.

Analyst Recommendations for iRobot (NASDAQ:IRBT)

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