iRobot Corporation’s (IRBT) “Sell” Rating Reiterated at SprucePoint Capital
Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut iRobot Corporation from a strong-buy rating to a hold rating in a research note on Tuesday, June 27th. Piper Jaffray Companies raised their target price on iRobot Corporation to $92.00 and gave the company a neutral rating in a research note on Wednesday, July 26th. They noted that the move was a valuation call. BidaskClub raised iRobot Corporation from a buy rating to a strong-buy rating in a research note on Tuesday, August 1st. Dougherty & Co lowered iRobot Corporation from a buy rating to a neutral rating in a research report on Monday, July 3rd. Finally, Canaccord Genuity increased their price target on iRobot Corporation from $90.00 to $95.00 and gave the company a hold rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. iRobot Corporation currently has an average rating of Hold and an average price target of $73.63.
iRobot Corporation (NASDAQ IRBT) traded down 2.49% during midday trading on Thursday, hitting $79.81. 2,628,834 shares of the company traded hands. The stock has a market cap of $2.21 billion, a P/E ratio of 39.14 and a beta of 1.18. The stock has a 50 day moving average of $97.47 and a 200 day moving average of $84.61. iRobot Corporation has a 12-month low of $40.22 and a 12-month high of $109.78.
iRobot Corporation (NASDAQ:IRBT) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.55. iRobot Corporation had a return on equity of 14.05% and a net margin of 7.84%. The business had revenue of $183.14 million during the quarter, compared to analysts’ expectations of $174.65 million. During the same quarter last year, the business posted $0.17 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Equities research analysts predict that iRobot Corporation will post $1.58 EPS for the current fiscal year.
In other iRobot Corporation news, CFO Alison Dean sold 33,809 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $100.00, for a total transaction of $3,380,900.00. Following the completion of the sale, the chief financial officer now directly owns 82,609 shares in the company, valued at approximately $8,260,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Glen Daniel Weinstein sold 11,375 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $105.02, for a total value of $1,194,602.50. Following the sale, the executive vice president now owns 80,458 shares of the company’s stock, valued at $8,449,699.16. The disclosure for this sale can be found here. Insiders sold a total of 106,675 shares of company stock valued at $10,315,539 in the last quarter. 4.49% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in IRBT. Teachers Advisors LLC boosted its position in iRobot Corporation by 3.6% during the 4th quarter. Teachers Advisors LLC now owns 44,233 shares of the industrial products company’s stock worth $2,585,000 after acquiring an additional 1,520 shares during the period. Wells Fargo & Company MN boosted its position in iRobot Corporation by 333.9% during the 1st quarter. Wells Fargo & Company MN now owns 202,817 shares of the industrial products company’s stock worth $13,415,000 after acquiring an additional 156,075 shares during the period. Great West Life Assurance Co. Can boosted its position in iRobot Corporation by 7.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 38,050 shares of the industrial products company’s stock worth $2,516,000 after acquiring an additional 2,531 shares during the period. Advisors Asset Management Inc. boosted its position in iRobot Corporation by 99.7% during the 1st quarter. Advisors Asset Management Inc. now owns 8,499 shares of the industrial products company’s stock worth $562,000 after acquiring an additional 4,244 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in iRobot Corporation by 363.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 18,300 shares of the industrial products company’s stock worth $1,201,000 after acquiring an additional 14,350 shares during the period. Hedge funds and other institutional investors own 82.73% of the company’s stock.
About iRobot Corporation
iRobot Corporation is a consumer robot company, which is engaged in designing and building robots. The Company’s portfolio of solutions features various technologies for the connected home and various concepts in mapping, navigation, mobility and artificial intelligence. The Company sells various products that are designed for use at home.
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