iRobot (IRBT) Rating Lowered to Buy at BidaskClub

iRobot (NASDAQ:IRBT) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

Other equities research analysts have also recently issued reports about the company. ValuEngine upgraded iRobot from a “hold” rating to a “buy” rating in a research report on Monday, August 20th. Needham & Company LLC restated a “hold” rating on shares of iRobot in a research report on Thursday, July 5th. Canaccord Genuity restated a “hold” rating and set a $80.00 target price on shares of iRobot in a research report on Friday, August 10th. Zacks Investment Research cut iRobot from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, Raymond James cut iRobot from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 10th. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $74.00.

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NASDAQ:IRBT opened at $90.61 on Thursday. iRobot has a 52 week low of $55.77 and a 52 week high of $118.75. The stock has a market cap of $3.01 billion, a PE ratio of 51.19, a price-to-earnings-growth ratio of 2.16 and a beta of 1.43.

iRobot (NASDAQ:IRBT) last posted its earnings results on Tuesday, July 24th. The industrial products company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.20. iRobot had a return on equity of 13.27% and a net margin of 5.90%. The firm had revenue of $226.30 million for the quarter, compared to analysts’ expectations of $219.71 million. During the same period last year, the firm earned $0.27 EPS. The company’s quarterly revenue was up 23.6% on a year-over-year basis. Analysts predict that iRobot will post 2.43 earnings per share for the current fiscal year.

In related news, CFO Alison Dean sold 16,778 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $85.00, for a total value of $1,426,130.00. Following the transaction, the chief financial officer now directly owns 87,523 shares of the company’s stock, valued at approximately $7,439,455. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Glen Daniel Weinstein sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $96.77, for a total transaction of $967,700.00. The disclosure for this sale can be found here. Insiders sold a total of 175,067 shares of company stock worth $18,440,488 over the last ninety days. 3.51% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of IRBT. FMR LLC lifted its stake in iRobot by 509.3% in the 2nd quarter. FMR LLC now owns 2,105,907 shares of the industrial products company’s stock valued at $159,565,000 after buying an additional 1,760,300 shares in the last quarter. Legal & General Group Plc lifted its stake in iRobot by 702.3% in the 1st quarter. Legal & General Group Plc now owns 442,757 shares of the industrial products company’s stock worth $28,399,000 after purchasing an additional 387,573 shares in the last quarter. Voya Investment Management LLC lifted its stake in iRobot by 34.8% in the 2nd quarter. Voya Investment Management LLC now owns 617,148 shares of the industrial products company’s stock worth $46,761,000 after purchasing an additional 159,478 shares in the last quarter. BlackRock Inc. lifted its stake in iRobot by 4.1% in the 1st quarter. BlackRock Inc. now owns 3,931,536 shares of the industrial products company’s stock worth $252,366,000 after purchasing an additional 153,263 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in iRobot by 277.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 126,600 shares of the industrial products company’s stock worth $8,127,000 after purchasing an additional 93,100 shares in the last quarter. 83.21% of the stock is currently owned by hedge funds and other institutional investors.

About iRobot

iRobot Corporation designs, builds, and sells robots for the consumer market worldwide. It offers Roomba floor vacuuming robots; Braava family of automatic floor mopping robots; and Mirra Pool Cleaning Robot to clean residential pools and removes debris as small as two microns from pool floors, walls, and stair.

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Analyst Recommendations for iRobot (NASDAQ:IRBT)

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