iRobot (IRBT) Cut to “Hold” at BidaskClub

Share on StockTwits

iRobot (NASDAQ:IRBT) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of iRobot from a “buy” rating to a “hold” rating in a report on Monday. Needham & Company LLC upgraded shares of iRobot from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Wednesday, October 24th. Piper Jaffray Companies cut their price objective on shares of iRobot to $82.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. Dougherty & Co reiterated a “neutral” rating on shares of iRobot in a report on Wednesday, October 24th. Finally, Sidoti upgraded shares of iRobot from a “neutral” rating to a “buy” rating in a report on Tuesday, October 16th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. iRobot currently has an average rating of “Hold” and an average price target of $80.83.

NASDAQ:IRBT opened at $88.73 on Tuesday. The firm has a market cap of $2.21 billion, a P/E ratio of 50.13, a price-to-earnings-growth ratio of 1.44 and a beta of 1.43. iRobot has a twelve month low of $55.77 and a twelve month high of $118.75.

iRobot (NASDAQ:IRBT) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.64. The business had revenue of $264.50 million for the quarter, compared to analyst estimates of $245.12 million. iRobot had a net margin of 6.52% and a return on equity of 15.95%. The business’s quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 EPS. Research analysts forecast that iRobot will post 2.68 earnings per share for the current fiscal year.

In other news, CFO Alison Dean sold 18,488 shares of the business’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $104.09, for a total value of $1,924,415.92. Following the completion of the sale, the chief financial officer now owns 77,464 shares of the company’s stock, valued at approximately $8,063,227.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mohamad Ali sold 743 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $111.10, for a total transaction of $82,547.30. Following the completion of the sale, the director now directly owns 12,289 shares of the company’s stock, valued at approximately $1,365,307.90. The disclosure for this sale can be found here. Insiders sold a total of 158,289 shares of company stock worth $17,014,358 in the last quarter. 4.49% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRBT. Russell Investments Group Ltd. increased its position in shares of iRobot by 187.6% in the 1st quarter. Russell Investments Group Ltd. now owns 35,319 shares of the industrial products company’s stock worth $2,266,000 after purchasing an additional 23,038 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of iRobot by 21.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 7,097 shares of the industrial products company’s stock valued at $455,000 after buying an additional 1,254 shares during the last quarter. UBS Group AG grew its position in shares of iRobot by 24.0% during the 1st quarter. UBS Group AG now owns 92,331 shares of the industrial products company’s stock valued at $5,927,000 after buying an additional 17,849 shares during the last quarter. LPL Financial LLC bought a new stake in shares of iRobot during the 1st quarter valued at about $709,000. Finally, Xact Kapitalforvaltning AB grew its position in shares of iRobot by 45.1% during the 1st quarter. Xact Kapitalforvaltning AB now owns 3,858 shares of the industrial products company’s stock valued at $248,000 after buying an additional 1,200 shares during the last quarter. 83.21% of the stock is owned by institutional investors.

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.

Featured Story: What is an Initial Public Offering (IPO)?

Analyst Recommendations for iRobot (NASDAQ:IRBT)

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.

Leave a Reply