iRobot Corporation (IRBT) Shares Down 6.3%

iRobot Corporation (NASDAQ:IRBT) shares traded down 6.3% on Thursday . The company traded as low as $66.00 and last traded at $68.50. 2,120,700 shares traded hands during trading, an increase of 143% from the average session volume of 871,798 shares. The stock had previously closed at $73.07.

A number of research analysts recently weighed in on the company. BidaskClub raised iRobot Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. 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 increased their target price 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 increased their target price 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of iRobot Corporation in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $69.67.

The stock has a market capitalization of $2,036.79, a P/E ratio of 38.87, a PEG ratio of 1.97 and a beta of 1.00.

iRobot Corporation (NASDAQ:IRBT) last released its earnings results on Tuesday, October 24th. The industrial products company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.16. The company 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%. iRobot Corporation’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. equities research analysts predict that iRobot Corporation will post 1.85 earnings per share for the current year.

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

Large investors have recently bought and sold shares of the business. Legal & General Group Plc raised its holdings in iRobot Corporation by 16.5% during the second quarter. Legal & General Group Plc now owns 52,487 shares of the industrial products company’s stock valued at $4,419,000 after acquiring an additional 7,418 shares during the period. Baillie Gifford & Co. raised its holdings in iRobot Corporation by 12.9% during the second quarter. Baillie Gifford & Co. now owns 746,771 shares of the industrial products company’s stock valued at $62,834,000 after acquiring an additional 85,124 shares during the period. Parametric Portfolio Associates LLC raised its holdings in iRobot Corporation by 17.2% during the second quarter. Parametric Portfolio Associates LLC now owns 59,241 shares of the industrial products company’s stock valued at $4,985,000 after acquiring an additional 8,711 shares during the period. Alps Advisors Inc. bought a new stake in iRobot Corporation during the third quarter valued at about $359,000. Finally, Stifel Financial Corp bought a new stake in iRobot Corporation during the second quarter valued at about $4,470,000. 81.28% of the stock is currently owned by institutional investors and hedge funds.

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About iRobot Corporation

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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