iRobot (NASDAQ:IRBT) Earns Buy Rating from Northland Securities

Northland Securities reiterated their buy rating on shares of iRobot (NASDAQ:IRBT) in a research note issued to investors on Wednesday morning, AnalystRatings.com reports. The brokerage currently has a $130.00 price objective on the industrial products company’s stock.

“We view this increase as a sign iRobot volumes are growing nicely. Ecovacs ranks about 500 v. about the same last year in iOS, and 60 in Android v. 55 last year. Shark ranks about 400 in iOS in US.”,” Northland Securities’ analyst wrote.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. set a €8.75 ($10.17) target price on shares of Commerzbank and gave the company a buy rating in a research note on Thursday, April 18th. ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Needham & Company LLC set a $12.00 target price on shares of Niu Technologies and gave the company a buy rating in a research note on Tuesday, March 19th. Zacks Investment Research lowered shares of Hancock Jaffe Laboratories from a buy rating to a hold rating in a research note on Wednesday, June 26th. Finally, Citigroup set a $95.00 target price on shares of iRobot and gave the company a hold rating in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $109.36.

IRBT stock opened at $90.44 on Wednesday. iRobot has a 12 month low of $70.86 and a 12 month high of $132.88. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 1.41 and a beta of 1.61. The company’s 50 day simple moving average is $90.32. The company has a current ratio of 3.22, a quick ratio of 1.97 and a debt-to-equity ratio of 0.11.

iRobot (NASDAQ:IRBT) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.68 by $0.16. iRobot had a net margin of 8.09% and a return on equity of 17.64%. The business had revenue of $237.66 million during the quarter, compared to analyst estimates of $251.40 million. During the same period in the prior year, the business earned $0.71 earnings per share. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts forecast that iRobot will post 3.13 earnings per share for the current year.

In other news, CEO Colin M. Angle sold 11,486 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $87.07, for a total transaction of $1,000,086.02. Following the transaction, the chief executive officer now owns 402,368 shares in the company, valued at approximately $35,034,181.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrew Miller sold 878 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $91.97, for a total transaction of $80,749.66. Following the transaction, the director now owns 14,199 shares in the company, valued at approximately $1,305,882.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,693 shares of company stock valued at $2,156,268. 3.01% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in iRobot by 16.7% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 700 shares of the industrial products company’s stock valued at $82,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue grew its stake in iRobot by 1.2% in the 1st 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 during the last quarter. LS Investment Advisors LLC grew its stake in iRobot by 6.3% in the 1st quarter. LS Investment Advisors LLC now owns 2,589 shares of the industrial products company’s stock valued at $305,000 after buying an additional 153 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in iRobot by 7.6% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,308 shares of the industrial products company’s stock valued at $272,000 after buying an additional 163 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in iRobot by 3.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,404 shares of the industrial products company’s stock valued at $754,000 after buying an additional 185 shares during the last quarter. Institutional investors own 97.16% 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 stairs.

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Analyst Recommendations for iRobot (NASDAQ:IRBT)

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