iRobot (NASDAQ:IRBT) shares were down 5.2% during trading on Tuesday . The company traded as low as $63.29 and last traded at $63.47. Approximately 1,323,289 shares were traded during trading, an increase of 30% from the average daily volume of 1,021,724 shares. The stock had previously closed at $66.96.
A number of research analysts recently commented on IRBT shares. BidaskClub downgraded iRobot from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 29th. Sidoti upgraded iRobot from a “neutral” rating to a “buy” rating in a research note on Friday, February 9th. Zacks Investment Research downgraded iRobot from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. JPMorgan Chase upgraded iRobot from an “underweight” rating to a “neutral” rating and set a $61.00 price objective for the company in a research note on Friday, February 9th. Finally, Piper Jaffray restated a “neutral” rating on shares of iRobot in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $70.60.
The stock has a market capitalization of $1,783.70, a PE ratio of 34.88, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11.
iRobot announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 27th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Several institutional investors have recently made changes to their positions in IRBT. Public Employees Retirement Association of Colorado acquired a new position in iRobot in the 4th quarter worth about $152,000. Xact Kapitalforvaltning AB bought a new stake in shares of iRobot during the 4th quarter worth about $204,000. Elkfork Partners LLC bought a new stake in shares of iRobot during the 4th quarter worth about $209,000. Flagship Harbor Advisors LLC bought a new stake in shares of iRobot during the 4th quarter worth about $236,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of iRobot during the 4th quarter worth about $226,000. 89.40% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This report was originally published by Week Herald and is the sole property of of Week Herald. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this report can be read at https://weekherald.com/2018/04/19/irobot-irbt-trading-down-5-2.html.
iRobot Company Profile
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.
Receive News & Ratings for iRobot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iRobot and related companies with MarketBeat.com's FREE daily email newsletter.