iRobot (IRBT) Downgraded to “Hold” at Zacks Investment Research

iRobot (NASDAQ:IRBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Over the last three months, iRobot’s shares have underperformed and looks overvalued compared to the industry. Lingering headwinds such as stiff industry rivalry or a sudden supply chain issue might hurt the company’s near-term revenues and profitability. However, iRobot reported robust fourth-quarter 2017 results. Quarterly adjusted earnings of 54 cents per share surpassed the Zacks Consensus Estimate of 26 cents. This upside stemmed from a solid home robotics business in all end markets across the United States, Europe and the EMEA region. The company believes sturdy demand, new innovation investments and Robopolis integration moves will continue to boost its results in the quarters ahead.”

Several other research firms have also recently issued reports on IRBT. JPMorgan Chase & Co. raised shares of iRobot from an “underweight” rating to a “neutral” rating and set a $61.00 price objective for the company in a research report on Friday. BidaskClub raised shares of iRobot from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 27th. Citigroup began coverage on shares of iRobot in a research report on Monday, December 4th. They issued a “neutral” rating and a $74.00 price target for the company. Sidoti raised shares of iRobot from a “neutral” rating to a “buy” rating in a research report on Friday, October 27th. Finally, Piper Jaffray Companies lowered their price target on shares of iRobot to $69.00 and set a “neutral” rating for the company in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $68.80.

iRobot (NASDAQ:IRBT) traded up $3.68 during trading on Tuesday, reaching $61.58. 2,333,500 shares of the company’s stock traded hands, compared to its average volume of 1,416,812. The stock has a market cap of $1,720.00, a PE ratio of 34.60, a price-to-earnings-growth ratio of 1.05 and a beta of 0.94. iRobot has a 12 month low of $54.38 and a 12 month high of $109.78.

iRobot (NASDAQ:IRBT) last released its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.29. The company had revenue of $327.00 million during the quarter, compared to analysts’ expectations of $319.02 million. iRobot had a net margin of 5.77% and a return on equity of 12.62%. The firm’s quarterly revenue was up 53.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. analysts anticipate that iRobot will post 2.77 EPS for the current year.

In related news, CEO Colin M. Angle sold 45,200 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew Miller sold 441 shares of the stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $80.11, for a total transaction of $35,328.51. Following the sale, the director now directly owns 4,670 shares of the company’s stock, valued at approximately $374,113.70. The disclosure for this sale can be found here. 4.49% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of IRBT. Public Employees Retirement Association of Colorado purchased a new stake in iRobot during the fourth quarter valued at approximately $152,000. Raymond James Financial Services Advisors Inc. purchased a new stake in iRobot during the fourth quarter valued at approximately $226,000. Flagship Harbor Advisors LLC purchased a new stake in iRobot during the fourth quarter valued at approximately $236,000. Kovack Advisors Inc. purchased a new stake in iRobot during the fourth quarter valued at approximately $246,000. Finally, Trexquant Investment LP purchased a new stake in iRobot during the third quarter valued at approximately $287,000. 80.54% of the stock is owned by institutional investors.

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iRobot 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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