iRobot Corp. (IRBT) Sees Unusually-High Trading Volume After Analyst Upgrade
Shares of iRobot Corp. (NASDAQ:IRBT) saw unusually-strong trading volume on Tuesday after Benchmark raised their price target on the stock from $46.00 to $52.00. Benchmark currently has a buy rating on the stock. Approximately 320,138 shares were traded during mid-day trading, an increase of 14% from the previous session’s volume of 281,440 shares.The stock last traded at $44.98 and had previously closed at $44.80.
Other analysts also recently issued reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $46.00 target price (up from $42.00) on shares of iRobot Corp. in a research report on Friday, September 16th. Canaccord Genuity reiterated a “buy” rating and set a $45.00 target price on shares of iRobot Corp. in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $39.88.
In other news, EVP Glen Daniel Weinstein sold 1,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $40.00, for a total transaction of $40,000.00. Following the transaction, the executive vice president now owns 70,481 shares in the company, valued at $2,819,240. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrea Geisser sold 3,243 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $40.19, for a total value of $130,336.17. Following the transaction, the director now owns 54,226 shares in the company, valued at approximately $2,179,342.94. The disclosure for this sale can be found here. Insiders own 5.53% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of iRobot Corp. by 27.8% in the second quarter. Dimensional Fund Advisors LP now owns 832,334 shares of the company’s stock valued at $29,198,000 after buying an additional 181,053 shares in the last quarter. Tributary Capital Management LLC purchased a new position in shares of iRobot Corp. during the second quarter valued at approximately $5,704,000. FMR LLC raised its position in shares of iRobot Corp. by 52.7% in the second quarter. FMR LLC now owns 461,747 shares of the company’s stock valued at $16,198,000 after buying an additional 159,327 shares in the last quarter. First Republic Investment Management Inc. raised its position in shares of iRobot Corp. by 97.6% in the first quarter. First Republic Investment Management Inc. now owns 159,957 shares of the company’s stock valued at $5,646,000 after buying an additional 78,997 shares in the last quarter. Finally, SECOR Capital Advisors LP purchased a new position in shares of iRobot Corp. during the second quarter valued at approximately $2,632,000. Hedge funds and other institutional investors own 77.47% of the company’s stock.
The company’s 50-day moving average is $41.82 and its 200 day moving average is $38.37. The stock has a market cap of $1.22 billion, a PE ratio of 32.40 and a beta of 1.59.
iRobot Corp. (NASDAQ:IRBT) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. The business earned $148.70 million during the quarter, compared to analyst estimates of $148.10 million. iRobot Corp. had a net margin of 6.49% and a return on equity of 10.39%. iRobot Corp.’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. Equities research analysts forecast that iRobot Corp. will post $1.32 EPS for the current year.
About iRobot Corp.
iRobot Corporation is engaged in designing and building robots. The Company’s portfolio of solutions focus on technologies for the connected home and concepts in navigation, mobility, mapping and artificial intelligence. The Company operates through consumer robots segment. It designs robots for the consumer, telemedicine and mobile video collaboration markets.
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