iRobot Corporation (NASDAQ:IRBT) Upgraded to Strong-Buy at BidaskClub

iRobot Corporation (NASDAQ:IRBT) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday, August 1st.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded iRobot Corporation from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 31st. Canaccord Genuity lifted their price target on iRobot Corporation from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Thursday, July 27th. Piper Jaffray Companies lifted their price target on 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. Dougherty & Co downgraded iRobot Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of iRobot Corporation in a research note on Saturday, April 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. iRobot Corporation currently has an average rating of “Hold” and an average price target of $73.63.

iRobot Corporation (IRBT) opened at 97.28 on Tuesday. The firm has a market capitalization of $2.69 billion, a PE ratio of 47.71 and a beta of 1.18. The firm has a 50-day moving average price of $94.52 and a 200-day moving average price of $79.93. iRobot Corporation has a 1-year low of $38.19 and a 1-year high of $109.78.

iRobot Corporation (NASDAQ:IRBT) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.55. The business had revenue of $183.14 million during the quarter, compared to the consensus estimate of $174.65 million. iRobot Corporation had a return on equity of 14.05% and a net margin of 7.84%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS. Equities analysts expect that iRobot Corporation will post $2.00 earnings per share for the current fiscal year.

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In related news, EVP Glen Daniel Weinstein sold 10,462 shares of iRobot Corporation stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $98.61, for a total value of $1,031,657.82. Following the sale, the executive vice president now owns 75,308 shares of the company’s stock, valued at approximately $7,426,121.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald Chwang sold 3,243 shares of iRobot Corporation stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $106.32, for a total transaction of $344,795.76. Following the completion of the sale, the director now directly owns 22,630 shares in the company, valued at approximately $2,406,021.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,721 shares of company stock worth $14,483,004. Insiders own 4.49% of the company’s stock.

Large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its stake in iRobot Corporation by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 3,010 shares of the industrial products company’s stock worth $199,000 after buying an additional 70 shares during the period. Capital One National Association boosted its stake in iRobot Corporation by 1.0% in the first quarter. Capital One National Association now owns 7,188 shares of the industrial products company’s stock worth $475,000 after buying an additional 74 shares during the period. Louisiana State Employees Retirement System boosted its stake in iRobot Corporation by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the industrial products company’s stock worth $942,000 after buying an additional 100 shares during the period. Arizona State Retirement System boosted its stake in iRobot Corporation by 0.7% in the second quarter. Arizona State Retirement System now owns 14,267 shares of the industrial products company’s stock worth $1,200,000 after buying an additional 100 shares during the period. Finally, NEXT Financial Group Inc boosted its stake 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 period. 84.09% of the stock is currently owned by institutional investors.

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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