iRobot (NASDAQ:IRBT) PT Set at $83.00 by Sidoti

iRobot (NASDAQ:IRBT) has been assigned a $83.00 price objective by investment analysts at Sidoti in a research report issued to clients and investors on Friday, TipRanks reports. The firm presently has a “hold” rating on the industrial products company’s stock. Sidoti’s price objective would suggest a potential upside of 26.68% from the company’s previous close.

Several other research analysts have also recently commented on the company. ValuEngine cut iRobot from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. BidaskClub lowered iRobot from a “strong-buy” rating to a “buy” rating in a report on Friday, July 26th. Dougherty & Co reissued a “neutral” rating on shares of iRobot in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on iRobot from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. Finally, Piper Jaffray Companies lowered their price objective on iRobot from $96.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $94.36.

Shares of IRBT traded down $2.16 during midday trading on Friday, reaching $65.52. 1,058,244 shares of the company were exchanged, compared to its average volume of 859,014. The company’s 50-day moving average is $84.24. The stock has a market capitalization of $1.95 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.69 and a beta of 1.53. iRobot has a 1-year low of $64.52 and a 1-year high of $132.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.90 and a current ratio of 3.15.

iRobot (NASDAQ:IRBT) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.22. iRobot had a return on equity of 16.06% and a net margin of 7.57%. The company had revenue of $260.17 million for the quarter, compared to analysts’ expectations of $267.96 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Analysts anticipate that iRobot will post 2.73 EPS for the current year.

In related news, CEO Colin M. Angle sold 11,486 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $87.07, for a total value of $1,000,086.02. Following the completion of the transaction, the chief executive officer now directly owns 402,368 shares of the company’s stock, valued at approximately $35,034,181.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Russell J. Campanello sold 11,159 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $95.00, for a total value of $1,060,105.00. Following the completion of the transaction, the executive vice president now directly owns 28,791 shares of the company’s stock, valued at $2,735,145. The disclosure for this sale can be found here. Insiders have sold 23,693 shares of company stock valued at $2,156,268 over the last ninety days. Corporate insiders own 3.01% of the company’s stock.

A number of hedge funds have recently modified their holdings of IRBT. Bank of America Corp DE increased its position in shares of iRobot by 149.5% in the fourth quarter. Bank of America Corp DE now owns 58,087 shares of the industrial products company’s stock valued at $4,865,000 after buying an additional 34,803 shares in the last quarter. Norges Bank purchased a new stake in shares of iRobot in the fourth quarter valued at approximately $33,787,000. State of Alaska Department of Revenue increased its position in shares of iRobot by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 9,368 shares of the industrial products company’s stock valued at $1,102,000 after buying an additional 115 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of iRobot in the first quarter valued at approximately $1,328,000. Finally, American Research & Management Co. purchased a new stake in shares of iRobot in the first quarter valued at approximately $118,000. 97.16% of the stock is owned by institutional investors and hedge funds.

About iRobot

iRobot Corporation designs, builds, and sells robots for the consumer market worldwide. It offers Roomba floor vacuuming robots; Braava family of automatic floor mopping robots; and Mirra Pool Cleaning Robot to clean residential pools and removes debris as small as two microns from pool floors, walls, and stairs.

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