Research analysts at Northland Securities started coverage on shares of iRobot (NASDAQ:IRBT) in a note issued to investors on Friday, February 16th, MarketBeat Ratings reports. The firm set an “outperform” rating on the industrial products company’s stock.
A number of other brokerages also recently commented on IRBT. JPMorgan Chase & Co. upgraded shares of iRobot from an “underweight” rating to a “neutral” rating and set a $61.00 price target for the company in a report on Friday, February 9th. BidaskClub upgraded shares of iRobot from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 27th. Citigroup initiated coverage on shares of iRobot in a report on Monday, December 4th. They set a “neutral” rating and a $74.00 price target for the company. Sidoti upgraded shares of iRobot from a “neutral” rating to a “buy” rating in a report on Friday, October 27th. Finally, Zacks Investment Research downgraded shares of iRobot from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $68.80.
iRobot (IRBT) traded up $0.45 during trading hours on Friday, reaching $69.57. 460,263 shares of the company’s stock traded hands, compared to its average volume of 1,510,000. iRobot has a 52-week low of $55.77 and a 52-week high of $109.78. The stock has a market cap of $1,940.00, a P/E ratio of 31.77, a P/E/G ratio of 2.04 and a beta of 1.16.
iRobot announced that its board has initiated a share repurchase plan on Tuesday, February 27th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, Director Andrew Miller sold 441 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $80.11, for a total value of $35,328.51. Following the completion of the sale, the director now directly owns 4,670 shares in the company, valued at $374,113.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Colin M. Angle sold 45,200 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $80.06, for a total transaction of $3,618,712.00. Following the completion of the sale, the chief executive officer now owns 534,663 shares of the company’s stock, valued at $42,805,119.78. The disclosure for this sale can be found here. 4.49% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in IRBT. Public Employees Retirement Association of Colorado acquired a new position in iRobot during the fourth quarter valued at approximately $152,000. Xact Kapitalforvaltning AB acquired a new position in iRobot during the fourth quarter valued at approximately $204,000. Elkfork Partners LLC acquired a new position in iRobot during the fourth quarter valued at approximately $209,000. Raymond James Financial Services Advisors Inc. acquired a new position in iRobot during the fourth quarter valued at approximately $226,000. Finally, Flagship Harbor Advisors LLC acquired a new position in iRobot during the fourth quarter valued at approximately $236,000. 89.32% of the stock is currently owned by hedge funds and other institutional investors.
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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