iRobot Corp. (IRBT) Stock Rating Lowered by Zacks Investment Research
iRobot Corp. (NASDAQ:IRBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “iRobot is currently boosting its revenues and earnings on the back of sound marketing programs and increased demand for home robotic products. Going forward, the company’s product portfolio solidification initiatives are expected to generate benefits. Based on these bullish aspects, the company has raised its full-year 2016 revenue and earnings guidance range. However, sluggish economic performance of certain emerging markets and a stronger U.S. dollar might limit near-term growth. In the last 60 days, the Zacks Consensus Estimate for the stock has been revised upward for 2016 but has moved south for 2017.”
A number of other brokerages have also commented on IRBT. Needham & Company LLC restated a “hold” rating on shares of iRobot Corp. in a research report on Friday, November 25th. Dougherty & Co assumed coverage on iRobot Corp. in a research report on Thursday, November 17th. They set a “buy” rating and a $65.00 price objective for the company. Sidoti assumed coverage on iRobot Corp. in a research report on Monday, November 14th. They set a “neutral” rating and a $56.00 price objective for the company. Benchmark Co. raised their price objective on iRobot Corp. from $52.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, November 14th. Finally, JPMorgan Chase & Co. set a $44.00 price objective on iRobot Corp. and gave the stock a “sell” rating in a research report on Friday, November 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. iRobot Corp. presently has an average rating of “Hold” and an average target price of $49.20.
Shares of iRobot Corp. (NASDAQ:IRBT) opened at 57.00 on Tuesday. The firm has a 50-day moving average of $49.36 and a 200 day moving average of $41.44. The firm has a market cap of $1.55 billion, a P/E ratio of 34.42 and a beta of 1.16. iRobot Corp. has a 12 month low of $28.02 and a 12 month high of $56.16.
iRobot Corp. (NASDAQ:IRBT) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.27. iRobot Corp. had a return on equity of 12.40% and a net margin of 7.27%. The firm earned $168.61 million during the quarter, compared to analyst estimates of $156.96 million. During the same period last year, the company posted $0.42 EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts anticipate that iRobot Corp. will post $1.41 EPS for the current fiscal year.
In related news, CEO Colin M. Angle sold 113,950 shares of the business’s stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $44.70, for a total value of $5,093,565.00. Following the completion of the sale, the chief executive officer now directly owns 563,841 shares in the company, valued at approximately $25,203,692.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Glen Daniel Weinstein sold 2,018 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $49.99, for a total value of $100,879.82. Following the completion of the sale, the executive vice president now owns 67,607 shares of the company’s stock, valued at $3,379,673.93. The disclosure for this sale can be found here. 5.53% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the company. US Bancorp DE raised its stake in iRobot Corp. by 0.7% in the third quarter. US Bancorp DE now owns 2,293 shares of the company’s stock valued at $101,000 after buying an additional 16 shares during the period. Victory Capital Management Inc. increased its position in shares of iRobot Corp. by 3.7% in the third quarter. Victory Capital Management Inc. now owns 2,451 shares of the company’s stock valued at $108,000 after buying an additional 87 shares in the last quarter. BlackRock Inc. increased its position in shares of iRobot Corp. by 49.2% in the second quarter. BlackRock Inc. now owns 3,168 shares of the company’s stock valued at $112,000 after buying an additional 1,045 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of iRobot Corp. by 10.7% in the second quarter. Teacher Retirement System of Texas now owns 3,753 shares of the company’s stock valued at $132,000 after buying an additional 364 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of iRobot Corp. by 116.6% in the second quarter. Royal Bank of Canada now owns 5,084 shares of the company’s stock valued at $178,000 after buying an additional 2,737 shares in the last quarter. Hedge funds and other institutional investors own 79.95% of the company’s stock.
About iRobot Corp.
iRobot Corporation is engaged in designing and building robots. The Company’s portfolio of solutions focus on technologies for the connected home and concepts in navigation, mobility, mapping and artificial intelligence. The Company operates through consumer robots segment. It designs robots for the consumer, telemedicine and mobile video collaboration markets.
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