iRobot Corporation (NASDAQ:IRBT) had its price objective raised by investment analysts at Canaccord Genuity from $90.00 to $95.00 in a research note issued on Thursday. The firm currently has a “hold” rating on the industrial products company’s stock. Canaccord Genuity’s price target suggests a potential downside of 11.42% from the stock’s current price.
Several other equities analysts have also recently weighed in on the company. BidaskClub cut iRobot Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Needham & Company LLC reissued a “hold” rating on shares of iRobot Corporation in a research note on Saturday, April 22nd. Zacks Investment Research lowered iRobot Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Dougherty & Co lowered iRobot Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 3rd. Finally, Piper Jaffray Companies lifted their price objective on iRobot Corporation to $92.00 and gave the company a “neutral” rating in a research note on Wednesday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. iRobot Corporation has a consensus rating of “Hold” and an average price target of $73.63.
iRobot Corporation (NASDAQ IRBT) traded up 1.91% during mid-day trading on Thursday, hitting $107.25. The stock had a trading volume of 1,139,127 shares. The firm’s 50-day moving average is $92.11 and its 200 day moving average is $75.45. iRobot Corporation has a 12 month low of $37.82 and a 12 month high of $109.40. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 52.60 and a beta of 1.13.
iRobot Corporation (NASDAQ:IRBT) last announced its quarterly 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. The company had revenue of $183.14 million during the quarter, compared to analysts’ expectations of $174.65 million. iRobot Corporation had a return on equity of 14.05% and a net margin of 7.84%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. Equities analysts anticipate that iRobot Corporation will post $1.92 EPS for the current fiscal year.
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In related news, COO Christian Cerda sold 75,121 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $100.06, for a total transaction of $7,516,607.26. Following the transaction, the chief operating officer now owns 98,300 shares in the company, valued at approximately $9,835,898. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Colin M. Angle sold 5,886 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $106.20, for a total value of $625,093.20. Following the transaction, the chief executive officer now owns 489,463 shares in the company, valued at approximately $51,980,970.60. The disclosure for this sale can be found here. In the last three months, insiders sold 143,793 shares of company stock valued at $13,933,376. 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. Texas Permanent School Fund increased its position in shares of iRobot Corporation by 1.5% in the second quarter. Texas Permanent School Fund now owns 20,017 shares of the industrial products company’s stock worth $1,684,000 after buying an additional 291 shares in the last quarter. Rothschild Asset Management Inc. increased its position in shares of iRobot Corporation by 7.9% in the second quarter. Rothschild Asset Management Inc. now owns 267,242 shares of the industrial products company’s stock worth $22,486,000 after buying an additional 19,671 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of iRobot Corporation by 4.1% in the second quarter. Great West Life Assurance Co. Can now owns 39,600 shares of the industrial products company’s stock worth $3,331,000 after buying an additional 1,550 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of iRobot Corporation by 4.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,480 shares of the industrial products company’s stock worth $545,000 after buying an additional 300 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of iRobot Corporation during the second quarter worth about $185,000. Institutional investors own 87.22% of the company’s stock.
iRobot Corporation Company Profile
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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