Zacks Investment Research lowered shares of iRobot Corporation (NASDAQ:IRBT) from a buy rating to a hold rating in a research report released on Thursday morning.

According to Zacks, “iRobot’s third-quarter 2017 earnings of 60 cents per share surpassed the Zacks Consensus Estimate by 36.4%. This upside was stemmed from a robust home robotics business in all end markets across the United States, Europe and the EMEA region. The company believes that sturdier demand, meaningful innovation investments and Robopolis buyout will boost results in the quarters ahead. However, over the last three months shares of the company have underperformed and looks overvalued compared to the industry. Weakening Chinese business might dent iRobot’s revenues in the upcoming quarters. Moreover, occurrence of a supply chain problem remains another cause of concern.”

IRBT has been the topic of several other research reports. Canaccord Genuity boosted their price objective on iRobot Corporation from $90.00 to $95.00 and gave the stock a hold rating in a report on Thursday, July 27th. BidaskClub upgraded iRobot Corporation from a buy rating to a strong-buy rating in a report on Tuesday, August 1st. Piper Jaffray Companies boosted their price objective on iRobot Corporation to $92.00 and gave the stock a neutral rating in a report on Wednesday, July 26th. They noted that the move was a valuation call. Needham & Company LLC restated a hold rating on shares of iRobot Corporation in a report on Thursday, October 26th. Finally, Dougherty & Co restated a neutral rating on shares of iRobot Corporation in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $65.67.

iRobot Corporation (IRBT) traded up $1.01 during midday trading on Thursday, reaching $68.80. The company’s stock had a trading volume of 490,500 shares, compared to its average volume of 1,500,189. The firm has a market cap of $1,917.80, a P/E ratio of 36.60, a PEG ratio of 1.87 and a beta of 1.00. iRobot Corporation has a 12-month low of $51.80 and a 12-month high of $109.78.

iRobot Corporation (NASDAQ:IRBT) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.16. The firm had revenue of $205.40 million for the quarter, compared to the consensus estimate of $204.52 million. iRobot Corporation had a return on equity of 12.79% and a net margin of 7.80%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.70 EPS. analysts anticipate that iRobot Corporation will post 1.84 earnings per share for the current year.

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In other news, Director Ronald Chwang sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $92.71, for a total value of $927,100.00. Following the transaction, the director now owns 12,630 shares in the company, valued at approximately $1,170,927.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alison Dean sold 33,809 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $100.00, for a total value of $3,380,900.00. Following the completion of the transaction, the chief financial officer now owns 82,609 shares in the company, valued at approximately $8,260,900. The disclosure for this sale can be found here. Insiders sold a total of 44,537 shares of company stock worth $4,380,800 in the last quarter. 4.49% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Creative Planning increased its holdings in iRobot Corporation by 14.0% in the second quarter. Creative Planning now owns 1,317 shares of the industrial products company’s stock worth $111,000 after buying an additional 162 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in iRobot Corporation by 16.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,988 shares of the industrial products company’s stock worth $132,000 after buying an additional 277 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in iRobot Corporation by 66.5% in the second quarter. Riverhead Capital Management LLC now owns 1,665 shares of the industrial products company’s stock worth $140,000 after buying an additional 665 shares during the last quarter. FNY Partners Fund LP acquired a new position in iRobot Corporation in the second quarter worth approximately $143,000. Finally, NEXT Financial Group Inc increased its holdings in iRobot Corporation by 6.2% in the second quarter. NEXT Financial Group Inc now owns 1,890 shares of the industrial products company’s stock worth $159,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 81.31% 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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Analyst Recommendations for iRobot Corporation (NASDAQ:IRBT)

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