BidaskClub Downgrades iRobot (IRBT) to Buy

iRobot (NASDAQ:IRBT) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

IRBT has been the topic of a number of other reports. Zacks Investment Research raised shares of iRobot from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, November 2nd. Canaccord Genuity reaffirmed a “hold” rating and set a $65.00 price objective (down from $95.00) on shares of iRobot in a report on Thursday, October 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of iRobot in a report on Thursday, October 26th. Dougherty & Co reaffirmed a “neutral” rating on shares of iRobot in a report on Thursday, October 26th. Finally, Piper Jaffray Companies cut their price objective on shares of iRobot to $69.00 and set a “neutral” rating on the stock in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $70.75.

iRobot (NASDAQ IRBT) traded up $4.40 on Tuesday, reaching $87.19. 1,127,175 shares of the company’s stock were exchanged, compared to its average volume of 938,755. The stock has a market cap of $2,410.00, a P/E ratio of 41.32, a price-to-earnings-growth 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 posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.60 earnings per share (EPS) 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 the consensus estimate of $204.52 million. iRobot had a net margin of 7.80% and a return on equity of 12.79%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 EPS. analysts anticipate that iRobot will post 1.85 earnings per share for the current fiscal year.

In other news, CEO Colin M. Angle sold 45,200 shares of iRobot stock in a transaction 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 approximately $42,805,119.78. The transaction was disclosed in a document filed 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 on Wednesday, December 27th. The stock was 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 IRBT. BlackRock Inc. raised its stake in shares of iRobot by 13.6% during the 2nd quarter. BlackRock Inc. now owns 3,751,472 shares of the industrial products company’s stock worth $315,648,000 after purchasing an additional 448,157 shares during the period. State Street Corp raised its stake in iRobot by 46.1% in the 2nd quarter. State Street Corp now owns 931,248 shares of the industrial products company’s stock valued at $78,353,000 after acquiring an additional 293,988 shares during the period. Vanguard Group Inc. raised its stake in iRobot by 9.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,241,921 shares of the industrial products company’s stock valued at $272,776,000 after acquiring an additional 277,161 shares during the period. Global X MANAGEMENT CO LLC raised its stake in iRobot by 159.3% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 133,631 shares of the industrial products company’s stock valued at $10,298,000 after acquiring an additional 82,104 shares during the period. Finally, Vident Investment Advisory LLC raised its stake in iRobot by 53.3% in the 3rd quarter. Vident Investment Advisory LLC now owns 233,444 shares of the industrial products company’s stock valued at $17,989,000 after acquiring an additional 81,207 shares during the period. 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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