iRobot (IRBT) Trading Down 5.2%

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.

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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 (NASDAQ:IRBT) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.29. The company had revenue of $327.00 million for the quarter, compared to analyst estimates of $319.02 million. iRobot had a return on equity of 12.62% and a net margin of 5.77%. iRobot’s revenue for the quarter was up 53.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 earnings per share. sell-side analysts expect that iRobot will post 2.26 EPS for the current fiscal year.

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.

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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.

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