iRobot (IRBT) Now Covered by Analysts at Citigroup

Citigroup initiated coverage on shares of iRobot (NASDAQ:IRBT) in a research report report published on Monday. The brokerage issued a neutral rating and a $74.00 target price on the industrial products company’s stock.

Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of iRobot from a buy rating to a hold rating in a research note on Thursday, November 9th. Sidoti upgraded shares of iRobot from a neutral rating to a buy rating in a research note on Friday, October 27th. Piper Jaffray Companies dropped their price target on shares of iRobot to $69.00 and set a neutral rating on the stock in a research note on Wednesday, October 25th. Canaccord Genuity reiterated a hold rating and issued a $65.00 price target (down from $95.00) on shares of iRobot in a research note on Thursday, October 26th. Finally, SprucePoint Capital reiterated a sell rating on shares of iRobot in a research note on Thursday, September 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $70.75.

Shares of iRobot (NASDAQ IRBT) traded down $1.41 during trading hours on Monday, reaching $64.58. 969,200 shares of the company traded hands, compared to its average volume of 869,533. The firm has a market capitalization of $1,839.44, a PE ratio of 35.10, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99. iRobot has a 52-week low of $52.12 and a 52-week high of $109.78.

iRobot (NASDAQ:IRBT) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.60 EPS 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 analyst estimates of $204.52 million. iRobot had a net margin of 7.80% and a return on equity of 12.79%. The firm’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 earnings per share. sell-side analysts predict that iRobot will post 1.85 EPS for the current fiscal year.

In other news, CFO Alison Dean sold 33,809 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $100.00, for a total transaction of $3,380,900.00. Following the transaction, the chief financial officer now directly owns 82,609 shares in the company, valued at $8,260,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Glen Daniel Weinstein sold 728 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $100.00, for a total transaction of $72,800.00. Following the transaction, the executive vice president now owns 68,355 shares in the company, valued at $6,835,500. The disclosure for this sale can be found here. Company insiders own 4.49% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in IRBT. Arizona State Retirement System grew its position in iRobot by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 14,267 shares of the industrial products company’s stock valued at $1,200,000 after buying an additional 100 shares during the last quarter. Amalgamated Bank grew its position in iRobot by 4.0% in the 2nd quarter. Amalgamated Bank now owns 3,693 shares of the industrial products company’s stock valued at $311,000 after buying an additional 141 shares during the last quarter. Creative Planning grew its position in iRobot by 14.0% in the 2nd quarter. Creative Planning now owns 1,317 shares of the industrial products company’s stock valued at $111,000 after buying an additional 162 shares during the last quarter. Profund Advisors LLC grew its position in iRobot by 3.5% in the 2nd quarter. Profund Advisors LLC now owns 4,926 shares of the industrial products company’s stock valued at $414,000 after buying an additional 166 shares during the last quarter. Finally, Suntrust Banks Inc. grew its position in iRobot by 4.0% in the 2nd quarter. Suntrust Banks Inc. now owns 4,594 shares of the industrial products company’s stock valued at $386,000 after buying an additional 175 shares during the last quarter. Institutional investors and hedge funds own 82.25% of the company’s stock.

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About iRobot

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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