iRobot Corp. (IRBT) Sets New 1-Year High After Analyst Upgrade
Shares of iRobot Corp. (NASDAQ:IRBT) reached a new 52-week high during trading on Monday after Benchmark raised their price target on the stock from $46.00 to $52.00. Benchmark currently has a buy rating on the stock. iRobot Corp. traded as high as $45.10 and last traded at $44.39, with a volume of 299,771 shares changing hands. The stock had previously closed at $43.33.
Several other analysts have also recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $46.00 target price (up from $42.00) on shares of iRobot Corp. in a research report on Friday, September 16th. Canaccord Genuity restated a “buy” rating and issued a $45.00 target price on shares of iRobot Corp. in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.88.
In other news, CFO Alison Dean sold 11,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $43.42, for a total transaction of $477,620.00. Following the completion of the sale, the chief financial officer now directly owns 84,045 shares of the company’s stock, valued at approximately $3,649,233.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Glen Daniel Weinstein sold 1,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $40.00, for a total value of $40,000.00. Following the sale, the executive vice president now directly owns 70,481 shares of the company’s stock, valued at $2,819,240. The disclosure for this sale can be found here. Company insiders own 5.53% of the company’s stock.
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Large investors have recently added to or reduced their stakes in the company. Capital Fund Management S.A. bought a new stake in iRobot Corp. during the second quarter valued at $333,000. Bank of Montreal Can acquired a new stake in shares of iRobot Corp. during the second quarter valued at approximately $268,000. Daiwa Securities Group Inc. boosted its stake 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. boosted its stake 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 acquired a new stake in shares of iRobot Corp. during the second quarter valued at approximately $674,000. 77.47% of the stock is owned by institutional investors and hedge funds.
The company has a 50 day moving average of $41.69 and a 200 day moving average of $38.26. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 31.82 and a beta of 1.59.
iRobot Corp. (NASDAQ:IRBT) last posted its earnings results on Tuesday, July 26th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. iRobot Corp. had a net margin of 6.49% and a return on equity of 10.39%. The company earned $148.70 million during the quarter, compared to analysts’ expectations of $148.10 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. iRobot Corp.’s quarterly revenue was down .1% compared to the same quarter last year. Equities analysts expect that iRobot Corp. will post $1.32 EPS for the current year.
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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