iRobot Corp. (IRBT) Coverage Initiated at Sidoti
Investment analysts at Sidoti initiated coverage on shares of iRobot Corp. (NASDAQ:IRBT) in a note issued to investors on Monday. The firm set a “neutral” rating and a $56.00 price target on the stock. Sidoti’s price target would indicate a potential upside of 6.59% from the stock’s previous close.
Several other equities analysts have also issued reports on the company. Needham & Company LLC lowered iRobot Corp. from a “buy” rating to a “hold” rating in a research note on Monday. Benchmark Co. lifted their price target on iRobot Corp. from $52.00 to $64.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. set a $44.00 price target on iRobot Corp. and gave the company a “sell” rating in a research note on Friday, November 11th. Zacks Investment Research upgraded iRobot Corp. from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Thursday, October 27th. Finally, Canaccord Genuity restated a “buy” rating and set a $45.00 price objective on shares of iRobot Corp. in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $47.44.
iRobot Corp. (NASDAQ:IRBT) opened at 52.54 on Monday. The firm’s 50-day moving average is $46.71 and its 200-day moving average is $40.42. The stock has a market capitalization of $1.43 billion, a P/E ratio of 31.73 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 announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.27. The firm earned $168.61 million during the quarter, compared to analysts’ expectations of $156.96 million. iRobot Corp. had a return on equity of 12.40% and a net margin of 7.27%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 EPS. On average, equities research analysts predict that iRobot Corp. will post $1.40 EPS for the current fiscal year.
In other news, EVP Glen Daniel Weinstein sold 2,018 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $49.99, for a total value of $100,879.82. Following the completion of the transaction, the executive vice president now directly owns 67,607 shares of the company’s stock, valued at $3,379,673.93. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 directly owns 68,420 shares of the company’s stock, valued at $2,736,800. The disclosure for this sale can be found here. Company insiders own 5.53% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Capital Fund Management S.A. acquired a new position in iRobot Corp. during the second quarter valued at about $333,000. Bank of Montreal Can purchased a new position in shares of iRobot Corp. during the second quarter valued at $268,000. Daiwa Securities Group Inc. raised its position in shares of 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. raised its position in shares of 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 purchased a new position in shares of iRobot Corp. during the second quarter valued at $674,000. 78.53% of the stock is owned by institutional investors.
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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