iRobot Corporation (IRBT) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of iRobot Corporation (NASDAQ:IRBT) from a hold rating to a buy rating in a research note released on Thursday, November 2nd. The brokerage currently has $75.00 target price on the industrial products company’s stock.

According to Zacks, “iRobot’s shares have underperformed and looks overvalued compared to the industry in the last three-month period. However, we note that the company’s third-quarter 2017 earnings of 60 cents per share surpassed the Zacks Consensus Estimate by 36.4%. This upside stemmed from a robust home robotics business in all end markets across the United States, Europe and the EMEA region. The company believes that a sturdy demand, meaningful innovation investments and the planned Robiolas buyout would boost its results in the quarters ahead.”

A number of other analysts have also weighed in on IRBT. BidaskClub lowered iRobot Corporation from a strong-buy rating to a buy rating in a research note on Wednesday, July 5th. Piper Jaffray Companies increased their target price on iRobot Corporation to $92.00 and gave the stock a neutral rating in a research note on Wednesday, July 26th. They noted that the move was a valuation call. Canaccord Genuity increased their price target on iRobot Corporation from $90.00 to $95.00 and gave the stock a hold rating in a research report on Thursday, July 27th. SprucePoint Capital reaffirmed a sell rating on shares of iRobot Corporation in a research report on Thursday, September 14th. Finally, Dougherty & Co reaffirmed a neutral rating on shares of iRobot Corporation in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. iRobot Corporation currently has an average rating of Hold and a consensus target price of $68.50.

iRobot Corporation (NASDAQ IRBT) traded down $0.53 during mid-day trading on Thursday, reaching $68.26. The company’s stock had a trading volume of 590,691 shares, compared to its average volume of 871,890. iRobot Corporation has a 1-year low of $51.80 and a 1-year high of $109.78. The company has a market cap of $1,900.00, a P/E ratio of 37.28, a price-to-earnings-growth ratio of 1.90 and a beta of 1.00.

iRobot Corporation (NASDAQ:IRBT) last released 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. iRobot Corporation had a return on equity of 12.79% and a net margin of 7.80%. The company had revenue of $205.40 million for the quarter, compared to analyst estimates of $204.52 million. During the same quarter in the prior year, the firm posted $0.70 EPS. iRobot Corporation’s quarterly revenue was up 21.8% compared to the same quarter last year. sell-side analysts expect that iRobot Corporation will post 1.84 EPS for the current fiscal year.

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In other news, EVP Glen Daniel Weinstein sold 728 shares of iRobot Corporation stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $100.00, for a total value of $72,800.00. Following the sale, the executive vice president now directly owns 68,355 shares of the company’s stock, valued at $6,835,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alison Dean sold 33,809 shares of iRobot Corporation stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $100.00, for a total value of $3,380,900.00. Following the completion of the sale, the chief financial officer now directly owns 82,609 shares in the company, valued at $8,260,900. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,537 shares of company stock valued at $4,380,800. Company insiders own 4.49% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System boosted its stake in iRobot Corporation by 10.9% during the third quarter. California Public Employees Retirement System now owns 48,447 shares of the industrial products company’s stock worth $3,733,000 after buying an additional 4,747 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in iRobot Corporation during the third quarter worth $397,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in iRobot Corporation by 64.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,675 shares of the industrial products company’s stock worth $360,000 after buying an additional 1,824 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in iRobot Corporation during the third quarter worth $2,582,000. Finally, Vident Investment Advisory LLC boosted its stake in iRobot Corporation by 53.3% during the third quarter. Vident Investment Advisory LLC now owns 233,444 shares of the industrial products company’s stock worth $17,989,000 after buying an additional 81,207 shares during the last quarter. 79.93% of the stock is currently owned by institutional investors.

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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