Benchmark Co. Boosts iRobot Corp. (IRBT) Price Target to $64.00
iRobot Corp. (NASDAQ:IRBT) had its price target boosted by analysts at Benchmark Co. from $52.00 to $64.00 in a report issued on Monday. The firm currently has a “buy” rating on the stock. Benchmark Co.’s target price points to a potential upside of 20.08% from the company’s previous close.
A number of other equities research analysts also recently weighed in on IRBT. Canaccord Genuity reissued a “buy” rating and set a $45.00 price target on shares of iRobot Corp. in a research note on Wednesday, August 10th. Needham & Company LLC reissued a “buy” rating and set a $46.00 price target (up from $42.00) on shares of iRobot Corp. in a research note on Friday, September 16th. Zacks Investment Research raised shares of iRobot Corp. from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Thursday, October 27th. Finally, JPMorgan Chase & Co. set a $44.00 price target on shares of iRobot Corp. and gave the stock a “sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.38.
Shares of iRobot Corp. (NASDAQ:IRBT) opened at 53.30 on Monday. The firm’s 50 day moving average is $46.18 and its 200-day moving average is $40.15. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 32.19 and a beta of 1.16. iRobot Corp. has a 52 week low of $28.02 and a 52 week high of $54.02.
iRobot Corp. (NASDAQ:IRBT) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.27. The business earned $168.61 million during the quarter, compared to the consensus estimate of $156.96 million. iRobot Corp. had a net margin of 7.27% and a return on equity of 12.40%. iRobot Corp.’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. Equities research analysts predict that iRobot Corp. will post $1.40 EPS for the current year.
In other news, EVP Russell J. Campanello sold 800 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $40.00, for a total value of $32,000.00. Following the completion of the transaction, the executive vice president now owns 68,420 shares in the company, valued at $2,736,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Glen Daniel Weinstein sold 2,018 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $49.99, for a total transaction of $100,879.82. Following the completion of the transaction, the executive vice president now owns 67,607 shares of the company’s stock, valued at approximately $3,379,673.93. The disclosure for this sale can be found here. 5.53% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Fund Management S.A. bought a new position in iRobot Corp. during the second quarter valued at $333,000. Bank of Montreal Can bought a new position in iRobot Corp. during the second quarter valued at $268,000. Daiwa Securities Group Inc. boosted its position in iRobot Corp. by 116.5% in the second quarter. Daiwa Securities Group Inc. now owns 19,700 shares of the company’s stock valued at $691,000 after buying an additional 10,600 shares during the period. Old Mutual Global Investors UK Ltd. boosted its position in iRobot Corp. by 418.1% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 41,696 shares of the company’s stock valued at $1,462,000 after buying an additional 33,648 shares during the period. Finally, First Quadrant L P CA bought a new position in iRobot Corp. during the second quarter valued at $674,000. Institutional investors own 78.53% of the company’s stock.
iRobot Corp. Company Profile
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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