iRobot (IRBT) Rating Increased to Strong-Buy at BidaskClub

BidaskClub upgraded shares of iRobot (NASDAQ:IRBT) from a buy rating to a strong-buy rating in a research note published on Friday.

Several other equities analysts have also weighed in on IRBT. JPMorgan Chase & Co. raised their target price on iRobot from $61.00 to $62.00 and gave the company a neutral rating in a report on Thursday, April 26th. Zacks Investment Research upgraded iRobot from a hold rating to a buy rating and set a $64.00 target price on the stock in a report on Thursday, April 26th. Canaccord Genuity cut their target price on iRobot from $65.00 to $63.00 and set a hold rating on the stock in a report on Thursday, April 26th. ValuEngine lowered iRobot from a sell rating to a strong sell rating in a report on Wednesday, May 2nd. Finally, Needham & Company LLC restated a hold rating on shares of iRobot in a report on Thursday, July 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $74.00.

NASDAQ IRBT opened at $112.27 on Friday. iRobot has a fifty-two week low of $55.77 and a fifty-two week high of $113.03. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 61.29, a P/E/G ratio of 2.29 and a beta of 1.32.

iRobot (NASDAQ:IRBT) last posted its earnings results on Tuesday, July 24th. The industrial products company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.20. iRobot had a return on equity of 13.27% and a net margin of 5.90%. The company had revenue of $226.30 million for the quarter, compared to analyst estimates of $219.71 million. During the same period last year, the company earned $0.27 earnings per share. The business’s revenue was up 23.6% compared to the same quarter last year. equities research analysts anticipate that iRobot will post 2.43 EPS for the current year.

In other news, EVP Russell J. Campanello sold 11,950 shares of iRobot stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $75.00, for a total value of $896,250.00. Following the transaction, the executive vice president now directly owns 86,625 shares in the company, valued at $6,496,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deborah G. Ellinger sold 1,000 shares of iRobot stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $100.00, for a total value of $100,000.00. Following the completion of the transaction, the director now owns 18,726 shares in the company, valued at $1,872,600. The disclosure for this sale can be found here. Insiders sold 70,770 shares of company stock worth $5,936,432 over the last quarter. 3.51% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of iRobot by 4.1% in the first quarter. BlackRock Inc. now owns 3,931,536 shares of the industrial products company’s stock worth $252,366,000 after purchasing an additional 153,263 shares during the period. FMR LLC increased its stake in shares of iRobot by 509.3% in the second quarter. FMR LLC now owns 2,105,907 shares of the industrial products company’s stock worth $159,565,000 after purchasing an additional 1,760,300 shares during the period. Baillie Gifford & Co. increased its stake in shares of iRobot by 2.7% in the second quarter. Baillie Gifford & Co. now owns 673,669 shares of the industrial products company’s stock worth $51,043,000 after purchasing an additional 18,009 shares during the period. Voya Investment Management LLC increased its stake in shares of iRobot by 34.8% in the second quarter. Voya Investment Management LLC now owns 617,148 shares of the industrial products company’s stock worth $46,761,000 after purchasing an additional 159,478 shares during the period. Finally, Global X Management Co LLC increased its stake in shares of iRobot by 17.1% in the second quarter. Global X Management Co LLC now owns 572,553 shares of the industrial products company’s stock worth $43,382,000 after purchasing an additional 83,575 shares during the period. Institutional investors and hedge funds own 83.21% of the company’s stock.

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 stair.

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