iRobot Corporation (NASDAQ:IRBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, October 17th. The brokerage currently has a $85.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 24.00% from the company’s previous close.
According to Zacks, “Over the last twelve months, iRobot’s shares outperformed the industry. The company reported better-than-expected second-quarter 2017 results. Quarterly earnings and revenues surpassed the Zacks Consensus Estimates by 208% and 4%, respectively. The upside was stemmed by robust home robotics business in all end markets across the U.S., China, and the EMEA region. The company believes that sturdy demand, meaningful innovation investments and the planned Robiolas buyout would boost its results in the quarters ahead. Notably, the company raised its earnings and revenue guidance for full-year 2017.”
A number of other brokerages also recently issued reports on IRBT. SprucePoint Capital reissued a “sell” rating on shares of iRobot Corporation in a research report on Thursday, September 14th. BidaskClub downgraded shares of iRobot Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 23rd. Dougherty & Co downgraded shares of iRobot Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, July 3rd. Piper Jaffray Companies boosted their price objective on shares of iRobot Corporation to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, July 26th. They noted that the move was a valuation call. Finally, Canaccord Genuity upped 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $62.57.
iRobot Corporation (NASDAQ IRBT) traded up $1.15 during trading hours on Tuesday, reaching $68.55. 712,638 shares of the company were exchanged, compared to its average volume of 1,280,000. iRobot Corporation has a 52 week low of $48.85 and a 52 week high of $109.78. The company has a market cap of $1,890.00, a price-to-earnings ratio of 35.85, a P/E/G ratio of 1.83 and a beta of 1.00.
iRobot Corporation (NASDAQ:IRBT) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.16. The company had revenue of $205.40 million during the quarter, compared to analyst estimates of $204.52 million. iRobot Corporation had a net margin of 7.80% and a return on equity of 12.79%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 EPS. analysts expect that iRobot Corporation will post 1.84 EPS for the current fiscal year.
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In other iRobot Corporation news, Director Ronald Chwang sold 10,000 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Glen Daniel Weinstein sold 728 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were 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 over the last three months. 4.49% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of iRobot Corporation by 3.1% in the 3rd quarter. Rhumbline Advisers now owns 55,099 shares of the industrial products company’s stock worth $4,246,000 after purchasing an additional 1,658 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in shares of iRobot Corporation by 60.6% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,410 shares of the industrial products company’s stock worth $802,000 after purchasing an additional 3,930 shares during the period. Sei Investments Co. lifted its stake in shares of iRobot Corporation by 27.6% in the 3rd quarter. Sei Investments Co. now owns 56,698 shares of the industrial products company’s stock worth $4,369,000 after purchasing an additional 12,274 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of iRobot Corporation by 80.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 17,504 shares of the industrial products company’s stock worth $1,349,000 after purchasing an additional 7,829 shares during the period. Finally, Global X MANAGEMENT CO LLC lifted its stake in shares of iRobot Corporation by 159.3% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 133,631 shares of the industrial products company’s stock worth $10,298,000 after purchasing an additional 82,104 shares during the period. Hedge funds and other institutional investors own 81.31% 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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