iRobot Corporation (IRBT) Stock Rating Reaffirmed by SprucePoint Capital
iRobot Corporation (NASDAQ:IRBT)‘s stock had its “sell” rating restated by equities research analysts at SprucePoint Capital in a research report issued to clients and investors on Thursday.
A number of other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of iRobot Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research cut shares of iRobot Corporation from a “strong-buy” rating to a “hold” rating in a report on Monday, July 31st. Canaccord Genuity upped their price target on shares of iRobot Corporation from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Thursday, July 27th. Piper Jaffray Companies upped their price target on shares of iRobot Corporation to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. They noted that the move was a valuation call. Finally, Dougherty & Co cut shares of iRobot Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. iRobot Corporation has an average rating of “Hold” and a consensus target price of $73.63.
Shares of iRobot Corporation (NASDAQ IRBT) traded down 3.97% during midday trading on Thursday, hitting $81.70. The company’s stock had a trading volume of 2,351,057 shares. The firm has a market cap of $2.26 billion, a P/E ratio of 40.07 and a beta of 1.18. The stock’s 50 day moving average is $98.98 and its 200-day moving average is $84.47. iRobot Corporation has a 52-week low of $39.20 and a 52-week high of $109.78.
iRobot Corporation (NASDAQ:IRBT) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.55. iRobot Corporation had a net margin of 7.84% and a return on equity of 14.05%. The business had revenue of $183.14 million for the quarter, compared to analysts’ expectations of $174.65 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities analysts predict that iRobot Corporation will post $1.58 EPS for the current fiscal year.
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In related news, Director Ronald Chwang sold 10,000 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $92.71, for a total value of $927,100.00. Following the transaction, the director now owns 12,630 shares of the company’s stock, valued at $1,170,927.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Colin M. Angle sold 5,886 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $106.20, for a total value of $625,093.20. Following the completion of the transaction, the chief executive officer now directly 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 ninety days, insiders sold 72,138 shares of company stock worth $6,861,839. Insiders own 4.49% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning increased its stake in iRobot Corporation by 14.0% in the second quarter. Creative Planning now owns 1,317 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 162 shares during the last quarter. Riverhead Capital Management LLC increased its stake in iRobot Corporation by 66.5% in the second quarter. Riverhead Capital Management LLC now owns 1,665 shares of the industrial products company’s stock valued at $140,000 after acquiring an additional 665 shares during the last quarter. FNY Partners Fund LP bought a new position in iRobot Corporation in the second quarter valued at $143,000. NEXT Financial Group Inc increased its stake in iRobot Corporation by 14.0% in the first quarter. NEXT Financial Group Inc now owns 1,780 shares of the industrial products company’s stock valued at $142,000 after acquiring an additional 219 shares during the last quarter. Finally, Flinton Capital Management LLC bought a new position in iRobot Corporation in the fourth quarter valued at $116,000. 82.73% of the stock is currently owned by institutional investors and hedge funds.
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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