iRobot Corp. (IRBT) Sees Unusually-High Trading Volume After Analyst Upgrade
iRobot Corp. (NASDAQ:IRBT) shares saw unusually-high trading volume on Tuesday after Benchmark raised their price target on the stock from $46.00 to $52.00. Benchmark currently has a buy rating on the stock. Approximately 320,138 shares traded hands during mid-day trading, an increase of 14% from the previous session’s volume of 281,440 shares.The stock last traded at $44.98 and had previously closed at $44.80.
A number of other brokerages have also weighed in on IRBT. Needham & Company LLC reissued a “buy” rating and issued a $46.00 price target (up previously from $42.00) on shares of iRobot Corp. in a report on Friday, September 16th. Canaccord Genuity reissued a “buy” rating and issued a $45.00 price target on shares of iRobot Corp. in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $39.88.
In other news, EVP Glen Daniel Weinstein sold 4,225 shares of iRobot Corp. stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $43.99, for a total transaction of $185,857.75. Following the transaction, the executive vice president now directly owns 70,814 shares of the company’s stock, valued at $3,115,107.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Alison Dean sold 11,000 shares of iRobot Corp. 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 transaction, the chief financial officer now directly owns 84,045 shares in the company, valued at $3,649,233.90. The disclosure for this sale can be found here. 5.53% of the stock is currently owned by company insiders.
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Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of iRobot Corp. by 49.2% in the second quarter. BlackRock Inc. now owns 3,168 shares of the company’s stock worth $112,000 after buying an additional 1,045 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of iRobot Corp. by 10.7% in the second quarter. Teacher Retirement System of Texas now owns 3,753 shares of the company’s stock worth $132,000 after buying an additional 364 shares in the last quarter. Royal Bank of Canada boosted its position in shares of iRobot Corp. by 116.6% in the second quarter. Royal Bank of Canada now owns 5,084 shares of the company’s stock worth $178,000 after buying an additional 2,737 shares in the last quarter. Mason Street Advisors LLC purchased a new position in shares of iRobot Corp. during the second quarter worth $188,000. Finally, Profund Advisors LLC boosted its position in shares of iRobot Corp. by 2.3% in the second quarter. Profund Advisors LLC now owns 6,703 shares of the company’s stock worth $235,000 after buying an additional 153 shares in the last quarter. 77.47% of the stock is currently owned by institutional investors.
The stock has a market cap of $1.22 billion, a P/E ratio of 32.40 and a beta of 1.59. The firm has a 50-day moving average price of $41.82 and a 200 day moving average price of $38.37.
iRobot Corp. (NASDAQ:IRBT) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.07. The business earned $148.70 million during the quarter, compared to analysts’ expectations of $148.10 million. iRobot Corp. had a net margin of 6.49% and a return on equity of 10.39%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. Equities analysts anticipate that iRobot Corp. will post $1.32 EPS for the current year.
iRobot Corp. Company Profile
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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