iRobot Corp. (IRBT) Rating Lowered to Hold at Needham & Company LLC
iRobot Corp. (NASDAQ:IRBT) was downgraded by research analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued on Monday.
Several other research firms have also commented on IRBT. JPMorgan Chase & Co. set a $44.00 target price on shares of iRobot Corp. and gave the company a “sell” rating in a report on Friday. Zacks Investment Research raised shares of iRobot Corp. from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Thursday, October 27th. Benchmark Co. raised their target price on shares of iRobot Corp. from $46.00 to $52.00 and gave the company a “buy” rating in a report on Monday, October 17th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $45.00 target price on shares of iRobot Corp. in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. iRobot Corp. has an average rating of “Hold” and an average target price of $44.88.
iRobot Corp. (NASDAQ:IRBT) opened at 53.30 on Monday. The company has a 50-day moving average of $46.18 and a 200 day moving average of $40.15. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 32.19 and a beta of 1.16. iRobot Corp. has a one year low of $28.02 and a one year high of $54.02.
iRobot Corp. (NASDAQ:IRBT) last released its earnings results on Tuesday, October 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.43 by $0.27. iRobot Corp. had a net margin of 7.27% and a return on equity of 12.40%. The firm had revenue of $168.61 million for the quarter, compared to analyst estimates of $156.96 million. During the same period last year, the firm earned $0.42 EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, analysts anticipate that iRobot Corp. will post $1.40 EPS for the current year.
In other iRobot Corp. news, EVP Glen Daniel Weinstein sold 2,018 shares of the business’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 sale, the executive vice president now directly owns 67,607 shares of the company’s stock, valued at approximately $3,379,673.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Russell J. Campanello sold 9,200 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $40.04, for a total transaction of $368,368.00. Following the sale, the executive vice president now directly owns 78,420 shares in the company, valued at $3,139,936.80. The disclosure for this sale can be found here. Company insiders own 5.53% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. US Bancorp DE raised its stake in iRobot Corp. by 0.7% in the third quarter. US Bancorp DE now owns 2,293 shares of the company’s stock worth $101,000 after buying an additional 16 shares during the last quarter. Victory Capital Management Inc. raised its stake in iRobot Corp. by 3.7% in the third quarter. Victory Capital Management Inc. now owns 2,451 shares of the company’s stock worth $108,000 after buying an additional 87 shares during the last quarter. BlackRock Inc. raised its stake in iRobot Corp. by 49.2% in the second quarter. BlackRock Inc. now owns 3,168 shares of the company’s stock worth $112,000 after buying an additional 1,045 shares during the last quarter. Teacher Retirement System of Texas raised its stake in iRobot Corp. by 10.7% in the second quarter. Teacher Retirement System of Texas now owns 3,753 shares of the company’s stock worth $132,000 after buying an additional 364 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in iRobot Corp. by 116.6% in the second quarter. Royal Bank of Canada now owns 5,084 shares of the company’s stock worth $178,000 after buying an additional 2,737 shares during the last quarter. 78.53% of the stock is currently owned by hedge funds and other institutional investors.
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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