iRobot (IRBT) Shares Down 8.5%

iRobot Co. (NASDAQ:IRBT) dropped 8.5% during mid-day trading on Monday . The company traded as low as $95.01 and last traded at $97.00. Approximately 1,579,121 shares traded hands during mid-day trading, an increase of 67% from the average daily volume of 945,891 shares. The stock had previously closed at $106.06.

IRBT has been the topic of a number of analyst reports. BidaskClub raised iRobot from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 24th. Canaccord Genuity reaffirmed a “hold” rating and issued a $80.00 price target on shares of iRobot in a research report on Friday, August 10th. Sidoti lowered iRobot from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 4th. They noted that the move was a valuation call. Raymond James lowered iRobot from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 10th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered iRobot from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $74.00.

The stock has a market cap of $3.01 billion, a PE ratio of 55.82, a PEG ratio of 2.16 and a beta of 1.43.

iRobot (NASDAQ:IRBT) last issued its earnings results on Tuesday, July 24th. The industrial products company reported $0.37 earnings per share for the quarter, topping the 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 business had revenue of $226.30 million for the quarter, compared to analyst estimates of $219.71 million. During the same quarter last year, the company earned $0.27 EPS. The business’s quarterly revenue was up 23.6% on a year-over-year basis. On average, equities research analysts expect that iRobot Co. will post 2.43 EPS for the current year.

In other news, Director Deborah G. Ellinger sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $100.00, for a total transaction of $100,000.00. Following the sale, the director now owns 18,726 shares of the company’s stock, valued at approximately $1,872,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mohamad Ali sold 542 shares of the firm’s stock in a transaction dated Friday, July 13th. The stock was sold at an average price of $80.94, for a total value of $43,869.48. Following the sale, the director now directly owns 13,032 shares in the company, valued at approximately $1,054,810.08. The disclosure for this sale can be found here. Insiders have sold a total of 175,609 shares of company stock worth $18,484,357 in the last three months. Corporate insiders own 3.51% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of IRBT. Schwab Charles Investment Management Inc. raised its position in shares of iRobot by 11.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 167,270 shares of the industrial products company’s stock worth $10,738,000 after acquiring an additional 17,280 shares in the last quarter. Northern Trust Corp raised its position in shares of iRobot by 1.1% during the 1st quarter. Northern Trust Corp now owns 350,591 shares of the industrial products company’s stock worth $22,504,000 after acquiring an additional 3,707 shares in the last quarter. BlackRock Inc. raised its position in shares of iRobot by 4.1% during the 1st quarter. BlackRock Inc. now owns 3,931,536 shares of the industrial products company’s stock worth $252,366,000 after acquiring an additional 153,263 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of iRobot by 4.8% during the 1st quarter. New York State Common Retirement Fund now owns 30,300 shares of the industrial products company’s stock worth $1,945,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of iRobot during the 1st quarter worth about $134,000. 83.21% of the stock is currently owned by institutional investors and hedge funds.

iRobot Company Profile (NASDAQ:IRBT)

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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