iRobot Corporation (IRBT) Issues Quarterly Earnings Results
iRobot Corporation (NASDAQ:IRBT) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.16, Briefing.com reports. The business had revenue of $205.40 million during the quarter, compared to the consensus estimate of $204.52 million. iRobot Corporation had a net margin of 7.84% and a return on equity of 14.05%. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. iRobot Corporation updated its FY17 guidance to $1.65-2.00 EPS.
Shares of iRobot Corporation (IRBT) opened at 75.26 on Wednesday. The stock’s 50 day moving average is $81.04 and its 200 day moving average is $88.23. The company has a market cap of $2.08 billion, a P/E ratio of 36.91 and a beta of 1.18. iRobot Corporation has a 1-year low of $47.10 and a 1-year high of $109.78.
Several analysts have issued reports on IRBT shares. Zacks Investment Research raised shares of iRobot Corporation from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday. BidaskClub downgraded shares of iRobot Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Canaccord Genuity lifted their price target on shares of iRobot Corporation from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Thursday, July 27th. Piper Jaffray Companies lifted their price target on shares of iRobot Corporation to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, July 26th. They noted that the move was a valuation call. Finally, Dougherty & Co downgraded shares of iRobot Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $69.13.
In related news, CFO Alison Dean sold 33,809 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $100.00, for a total transaction of $3,380,900.00. Following the completion of the transaction, the chief financial officer now owns 82,609 shares of the company’s stock, valued at approximately $8,260,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Glen Daniel Weinstein sold 11,375 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $105.02, for a total transaction of $1,194,602.50. Following the transaction, the executive vice president now directly owns 80,458 shares of the company’s stock, valued at approximately $8,449,699.16. The disclosure for this sale can be found here. Insiders have sold a total of 66,237 shares of company stock valued at $6,665,295 in the last ninety days. 4.49% of the stock is currently owned by corporate insiders.
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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