iRobot Corp. (IRBT) Receives Hold Rating from Needham & Company LLC
Other equities analysts have also issued research reports about the company. Canaccord Genuity reissued a buy rating and issued a $45.00 target price on shares of iRobot Corp. in a research note on Wednesday, August 10th. Sidoti began coverage on iRobot Corp. in a research note on Monday, November 14th. They issued a neutral rating and a $56.00 target price on the stock. Benchmark Co. increased their target price on iRobot Corp. from $52.00 to $64.00 and gave the company a buy rating in a research note on Monday, November 14th. JPMorgan Chase & Co. set a $44.00 target price on iRobot Corp. and gave the company a sell rating in a research note on Friday, November 11th. Finally, Dougherty & Co began coverage on iRobot Corp. in a research note on Thursday, November 17th. They issued a buy rating and a $65.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $49.20.
Shares of iRobot Corp. (NASDAQ:IRBT) opened at 55.09 on Friday. iRobot Corp. has a one year low of $28.02 and a one year high of $55.76. The stock’s 50 day moving average price is $48.99 and its 200 day moving average price is $41.26. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 33.27 and a beta of 1.16.
iRobot Corp. (NASDAQ:IRBT) last released its earnings results on Tuesday, October 25th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.27. iRobot Corp. had a return on equity of 12.40% and a net margin of 7.27%. The firm had revenue of $168.61 million for the quarter, compared to analyst estimates of $156.96 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts expect that iRobot Corp. will post $1.41 EPS for the current fiscal year.
In other news, EVP Glen Daniel Weinstein sold 2,018 shares of the firm’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 sale, 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 legal filing with the SEC, which is accessible through this link. Also, EVP Russell J. Campanello sold 9,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $40.04, for a total value of $368,368.00. Following the completion of the sale, the executive vice president now directly owns 78,420 shares of the company’s stock, valued at $3,139,936.80. The disclosure for this sale can be found here. 5.53% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Columbus Circle Investors acquired a new stake in iRobot Corp. during the third quarter worth about $19,004,000. Dimensional Fund Advisors LP boosted its stake in 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 during the last quarter. Tributary Capital Management LLC purchased a new stake in iRobot Corp. during the second quarter valued at $5,704,000. FMR LLC boosted its stake in 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 during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in iRobot Corp. by 7.3% in the third quarter. BlackRock Fund Advisors now owns 1,876,014 shares of the company’s stock valued at $82,507,000 after buying an additional 127,699 shares during the last quarter. 79.95% of the stock is owned by 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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