SprucePoint Capital Reiterates Sell Rating for iRobot Corporation (IRBT)
iRobot Corporation (NASDAQ:IRBT)‘s stock had its “sell” rating restated by analysts at SprucePoint Capital in a note issued to investors on Thursday.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of iRobot Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Piper Jaffray Companies increased their target price on shares of iRobot Corporation to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, July 26th. They noted that the move was a valuation call. BidaskClub upgraded shares of iRobot Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Dougherty & Co cut shares of iRobot Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 3rd. Finally, Canaccord Genuity increased their target price on shares of iRobot Corporation from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $73.63.
iRobot Corporation (NASDAQ IRBT) traded down 4.47% during trading on Thursday, hitting $81.28. The stock had a trading volume of 2,368,802 shares. The stock has a 50-day moving average price of $98.98 and a 200-day moving average price of $84.47. The company has a market cap of $2.25 billion, a PE ratio of 39.86 and a beta of 1.18. iRobot Corporation has a 52 week low of $39.20 and a 52 week high of $109.78.
iRobot Corporation (NASDAQ:IRBT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.55. iRobot Corporation had a net margin of 7.84% and a return on equity of 14.05%. The business had revenue of $183.14 million during the quarter, compared to analysts’ expectations of $174.65 million. During the same quarter last year, the company earned $0.17 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. Equities analysts predict that iRobot Corporation will post $1.58 EPS for the current year.
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In other iRobot Corporation news, Director Ronald Chwang sold 3,243 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $106.32, for a total transaction of $344,795.76. Following the completion of the transaction, the director now owns 22,630 shares in the company, valued at $2,406,021.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Russell J. Campanello sold 6,906 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $85.00, for a total transaction of $587,010.00. Following the transaction, the executive vice president now owns 82,434 shares of the company’s stock, valued at approximately $7,006,890. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,138 shares of company stock valued at $6,861,839. Corporate insiders own 4.49% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning lifted its stake in iRobot Corporation by 14.0% during the second quarter. Creative Planning now owns 1,317 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 162 shares during the period. Riverhead Capital Management LLC lifted its stake in iRobot Corporation by 66.5% during the second quarter. Riverhead Capital Management LLC now owns 1,665 shares of the industrial products company’s stock worth $140,000 after purchasing an additional 665 shares during the period. FNY Partners Fund LP bought a new position in iRobot Corporation during the second quarter worth about $143,000. NEXT Financial Group Inc lifted its stake in iRobot Corporation by 6.2% during the second quarter. NEXT Financial Group Inc now owns 1,890 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 110 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in iRobot Corporation by 16.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,988 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 277 shares during the period. Hedge funds and other institutional investors own 82.73% of the company’s stock.
iRobot Corporation 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.
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