iRobot (IRBT) Lifted to “Strong-Buy” at BidaskClub

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

Several other research firms have also recently issued reports on IRBT. Zacks Investment Research raised iRobot from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, October 17th. Citigroup initiated coverage on iRobot in a report on Monday, December 4th. They issued a “neutral” rating and a $74.00 price target on the stock. Sidoti raised iRobot from a “neutral” rating to a “buy” rating in a report on Friday, October 27th. Piper Jaffray Companies dropped their price target on iRobot to $69.00 and set a “neutral” rating on the stock in a report on Wednesday, October 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of iRobot in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $70.75.

iRobot (NASDAQ IRBT) opened at $88.09 on Thursday. The stock has a market capitalization of $2,440.00, a price-to-earnings ratio of 41.75, a price-to-earnings-growth ratio of 1.59 and a beta of 0.99. iRobot has a twelve month low of $52.12 and a twelve month high of $109.78.

iRobot (NASDAQ:IRBT) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.16. The company had revenue of $205.40 million for the quarter, compared to analysts’ expectations of $204.52 million. iRobot had a return on equity of 12.79% and a net margin of 7.80%. The firm’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. sell-side analysts predict that iRobot will post 1.85 earnings per share for the current fiscal year.

In other iRobot news, CEO Colin M. Angle sold 45,200 shares of the business’s stock in a transaction on Tuesday, December 26th. The shares were 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 of the company’s stock, valued at approximately $42,805,119.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andrew Miller sold 441 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $80.11, for a total transaction of $35,328.51. Following the sale, the director now directly owns 4,670 shares in the company, valued at $374,113.70. The disclosure for this sale can be found here. 4.49% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in IRBT. BlackRock Inc. raised its stake in iRobot by 13.6% during the 2nd quarter. BlackRock Inc. now owns 3,751,472 shares of the industrial products company’s stock valued at $315,648,000 after purchasing an additional 448,157 shares during the period. State Street Corp raised its stake in iRobot 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 purchasing an additional 293,988 shares during the period. Vanguard Group Inc. raised its stake in iRobot by 9.3% during 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 purchasing an additional 277,161 shares during the period. Global X MANAGEMENT CO LLC raised its stake in iRobot by 159.3% during 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 purchasing an additional 82,104 shares during the period. Finally, Vident Investment Advisory LLC raised its stake in iRobot by 53.3% during 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 purchasing an additional 81,207 shares during the period. 82.17% of the stock is currently owned by institutional investors.

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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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