Zacks Investment Research cut shares of iRobot Corporation (NASDAQ:IRBT) from a buy rating to a hold rating in a report published on Thursday.
According to Zacks, “iRobot’s third-quarter 2017 earnings of 60 cents per share surpassed the Zacks Consensus Estimate by 36.4%. This upside was stemmed from a robust home robotics business in all end markets across the United States, Europe and the EMEA region. The company believes that sturdier demand, meaningful innovation investments and Robopolis buyout will boost results in the quarters ahead. However, over the last three months shares of the company have underperformed and looks overvalued compared to the industry. Weakening Chinese business might dent iRobot’s revenues in the upcoming quarters. Moreover, occurrence of a supply chain problem remains another cause of concern.”
A number of other research firms also recently commented on IRBT. Canaccord Genuity lifted their target price on shares of iRobot Corporation from $90.00 to $95.00 and gave the stock a hold rating in a research report on Thursday, July 27th. BidaskClub raised shares of iRobot Corporation from a buy rating to a strong-buy rating in a research report on Tuesday, August 1st. Piper Jaffray Companies lifted their target price on shares of iRobot Corporation to $92.00 and gave the stock a neutral rating in a research report on Wednesday, July 26th. They noted that the move was a valuation call. SprucePoint Capital reaffirmed a sell rating on shares of iRobot Corporation in a research report on Thursday, September 14th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of iRobot Corporation in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $65.67.
Shares of iRobot Corporation (NASDAQ IRBT) traded up $1.01 on Thursday, hitting $68.80. 490,500 shares of the company traded hands, compared to its average volume of 871,188. The company has a market capitalization of $1,917.77, a P/E ratio of 36.60, a P/E/G ratio of 1.87 and a beta of 1.00. iRobot Corporation has a 12 month low of $51.80 and a 12 month high of $109.78.
iRobot Corporation (NASDAQ:IRBT) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.16. The company had revenue of $205.40 million during the quarter, compared to the consensus estimate of $204.52 million. iRobot Corporation had a net margin of 7.80% and a return on equity of 12.79%. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. equities research analysts anticipate that iRobot Corporation will post 1.84 EPS for the current year.
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In other news, Director Ronald Chwang sold 10,000 shares of iRobot Corporation stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $92.71, for a total transaction of $927,100.00. Following the transaction, the director now owns 12,630 shares in the company, valued at approximately $1,170,927.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Glen Daniel Weinstein sold 728 shares of iRobot Corporation stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $100.00, for a total transaction of $72,800.00. Following the transaction, the executive vice president now owns 68,355 shares in the company, valued at approximately $6,835,500. The disclosure for this sale can be found here. Insiders have sold a total of 44,537 shares of company stock worth $4,380,800 in the last quarter. Corporate insiders own 4.49% of the company’s stock.
Several institutional investors have recently modified their holdings of IRBT. BlackRock Inc. boosted its stake in shares of iRobot Corporation by 124,694.7% during the 1st quarter. BlackRock Inc. now owns 3,303,315 shares of the industrial products company’s stock worth $218,483,000 after acquiring an additional 3,300,668 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of iRobot Corporation by 27.4% during the 1st quarter. Vanguard Group Inc. now owns 2,964,760 shares of the industrial products company’s stock valued at $196,089,000 after buying an additional 637,890 shares in the last quarter. Old Mutual Global Investors UK Ltd. lifted its stake in shares of iRobot Corporation by 363.7% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 446,594 shares of the industrial products company’s stock valued at $37,576,000 after buying an additional 350,292 shares in the last quarter. State Street Corp lifted its stake in shares of iRobot Corporation by 46.1% during the 2nd quarter. State Street Corp now owns 931,248 shares of the industrial products company’s stock valued at $78,353,000 after buying an additional 293,988 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of iRobot Corporation by 50.9% during the 2nd quarter. Acadian Asset Management LLC now owns 516,492 shares of the industrial products company’s stock valued at $43,456,000 after buying an additional 174,179 shares in the last quarter. Institutional investors and hedge funds own 79.93% of the company’s stock.
iRobot Corporation Company Profile
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.
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