iRobot (IRBT) Rating Increased to Strong-Buy at BidaskClub

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

A number of other analysts also recently weighed in on IRBT. Zacks Investment Research upgraded shares of iRobot from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, October 17th. Piper Jaffray Companies reduced their target price on shares of iRobot to $69.00 and set a “neutral” rating on the stock in a report on Wednesday, October 25th. Canaccord Genuity restated a “hold” rating and issued a $65.00 target price (down from $95.00) on shares of iRobot in a report on Thursday, October 26th. Dougherty & Co restated a “neutral” rating on shares of iRobot in a report on Thursday, October 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of iRobot in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $70.75.

Shares of iRobot (NASDAQ IRBT) traded up $2.57 during midday trading on Thursday, reaching $88.79. 990,884 shares of the company’s stock were exchanged, compared to its average volume of 940,490. The company has a market cap of $2,530.00, a P/E ratio of 42.08, a P/E/G ratio of 1.56 and a beta of 0.99. iRobot has a one year low of $52.12 and a one year high of $109.78.

iRobot (NASDAQ:IRBT) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. iRobot had a net margin of 7.80% and a return on equity of 12.79%. The company had revenue of $205.40 million for the quarter, compared to the consensus estimate of $204.52 million. During the same period in the previous year, the firm posted $0.70 EPS. iRobot’s revenue for the quarter was up 21.8% compared to the same quarter last year. analysts forecast that iRobot will post 1.87 EPS for the current year.

In related news, Director Andrew Miller sold 441 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $80.11, for a total transaction of $35,328.51. Following the transaction, the director now directly owns 4,670 shares in the company, valued at approximately $374,113.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Colin M. Angle sold 45,200 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 534,663 shares in the company, valued at $42,805,119.78. The disclosure for this sale can be found here. Corporate insiders own 4.49% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in iRobot by 13.6% during the 2nd quarter. BlackRock Inc. now owns 3,751,472 shares of the industrial products company’s stock valued at $315,648,000 after purchasing an additional 448,157 shares during the last quarter. Vanguard Group Inc. grew its holdings in iRobot by 9.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,241,921 shares of the industrial products company’s stock valued at $272,776,000 after purchasing an additional 277,161 shares during the last quarter. State Street Corp grew its holdings in iRobot by 46.1% during the 2nd quarter. State Street Corp now owns 931,248 shares of the industrial products company’s stock valued at $78,353,000 after purchasing an additional 293,988 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in iRobot by 7.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 546,907 shares of the industrial products company’s stock valued at $46,017,000 after purchasing an additional 37,810 shares during the last quarter. Finally, Pictet Asset Management Ltd. grew its holdings in iRobot by 1.1% during the 3rd quarter. Pictet Asset Management Ltd. now owns 529,204 shares of the industrial products company’s stock valued at $40,780,000 after purchasing an additional 5,507 shares during the last quarter. Institutional investors own 82.17% of the company’s stock.

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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.

Analyst Recommendations for iRobot (NASDAQ:IRBT)

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