iRobot Co. (IRBT) Receives Average Recommendation of “Buy” from Brokerages

iRobot Co. (NASDAQ:IRBT) has received a consensus recommendation of “Buy” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $85.60.

Several equities analysts have recently issued reports on IRBT shares. BidaskClub cut iRobot from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 22nd. ValuEngine raised iRobot from a “hold” rating to a “buy” rating in a research note on Monday, August 20th. Sidoti raised iRobot from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 16th. Needham & Company LLC raised iRobot from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Wednesday, October 24th. Finally, Zacks Investment Research raised iRobot from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Friday, October 26th.

In related news, Director Mohamad Ali sold 743 shares of iRobot stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $111.10, for a total transaction of $82,547.30. Following the sale, the director now directly owns 12,289 shares in the company, valued at $1,365,307.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Russell J. Campanello sold 48,582 shares of iRobot stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $110.63, for a total value of $5,374,626.66. Following the sale, the executive vice president now owns 86,050 shares in the company, valued at $9,519,711.50. The disclosure for this sale can be found here. Insiders have sold 169,406 shares of company stock worth $18,014,443 over the last 90 days. 3.51% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of iRobot by 14.6% during the third quarter. FMR LLC now owns 2,412,827 shares of the industrial products company’s stock valued at $265,217,000 after purchasing an additional 306,920 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of iRobot by 2.7% during the second quarter. Baillie Gifford & Co. now owns 673,669 shares of the industrial products company’s stock valued at $51,043,000 after purchasing an additional 18,009 shares in the last quarter. Voya Investment Management LLC boosted its holdings in 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 acquiring an additional 159,478 shares in the last quarter. Global X Management Co LLC boosted its holdings in 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 acquiring an additional 83,575 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in iRobot by 4.1% in the third quarter. Bank of New York Mellon Corp now owns 421,659 shares of the industrial products company’s stock worth $46,348,000 after acquiring an additional 16,767 shares in the last quarter. Institutional investors own 83.21% of the company’s stock.

Shares of IRBT traded down $1.03 during mid-day trading on Thursday, hitting $90.65. 10,356 shares of the company’s stock traded hands, compared to its average volume of 1,162,473. iRobot has a 1 year low of $55.77 and a 1 year high of $118.75. The stock has a market capitalization of $2.66 billion, a PE ratio of 51.96, a price-to-earnings-growth ratio of 1.71 and a beta of 1.73.

iRobot (NASDAQ:IRBT) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.64. iRobot had a return on equity of 15.95% and a net margin of 6.52%. The firm had revenue of $264.50 million for the quarter, compared to analysts’ expectations of $245.12 million. During the same period in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was up 28.8% compared to the same quarter last year. As a group, analysts forecast that iRobot will post 2.68 earnings per share for the current fiscal year.

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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Analyst Recommendations for iRobot (NASDAQ:IRBT)

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