Zacks Investment Research Upgrades iRobot Corporation (IRBT) to Buy

iRobot Corporation (NASDAQ:IRBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $85.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.58% from the stock’s current price.

According to Zacks, “Over the last twelve months, iRobot’s shares outperformed the industry. The company reported better-than-expected second-quarter 2017 results. Quarterly earnings and revenues surpassed the Zacks Consensus Estimates by 208% and 4%, respectively. The upside was stemmed by robust home robotics business in all end markets across the U.S., China, and the EMEA region. The company believes that sturdy demand, meaningful innovation investments and the planned Robiolas buyout would boost its results in the quarters ahead. Notably, the company raised its earnings and revenue guidance for full-year 2017.”

Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of iRobot Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 23rd. Canaccord Genuity upped their price objective on shares of iRobot Corporation from $90.00 to $95.00 and gave the company a “hold” rating in a report on Thursday, July 27th. Piper Jaffray Companies upped their price objective on shares of iRobot Corporation to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. They noted that the move was a valuation call. Dougherty & Co downgraded shares of iRobot Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 3rd. Finally, SprucePoint Capital restated a “sell” rating on shares of iRobot Corporation in a report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. iRobot Corporation has a consensus rating of “Hold” and a consensus price target of $69.13.

Shares of iRobot Corporation (NASDAQ:IRBT) traded up 0.1821% during mid-day trading on Tuesday, hitting $75.6475. 689,545 shares of the stock were exchanged. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 37.1003 and a beta of 1.19. iRobot Corporation has a 52-week low of $42.51 and a 52-week high of $109.78. The stock has a 50-day moving average price of $84.03 and a 200 day moving average price of $87.73.

iRobot Corporation (NASDAQ:IRBT) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.55. iRobot Corporation had a net margin of 7.84% and a return on equity of 14.05%. The firm had revenue of $183.14 million for the quarter, compared to the consensus estimate of $174.65 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities research analysts expect that iRobot Corporation will post $1.58 earnings per share for the current year.

WARNING: “Zacks Investment Research Upgrades iRobot Corporation (IRBT) to Buy” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://ledgergazette.com/2017/10/17/zacks-investment-research-upgrades-irobot-corporation-irbt-to-buy.html.

In related news, CEO Colin M. Angle sold 5,886 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $106.20, for a total value of $625,093.20. Following the transaction, the chief executive officer now owns 489,463 shares in the company, valued at approximately $51,980,970.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Alison Dean sold 17,646 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,588,140.00. Following the completion of the transaction, the chief financial officer now owns 82,080 shares in the company, valued at approximately $7,387,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,769 shares of company stock worth $8,878,529. 4.49% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of IRBT. UBS Asset Management Americas Inc. increased its holdings in iRobot Corporation by 114.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 12,857 shares of the industrial products company’s stock worth $850,000 after buying an additional 6,858 shares during the period. Karp Capital Management Corp acquired a new position in iRobot Corporation in the 1st quarter worth approximately $463,000. Parametric Portfolio Associates LLC increased its holdings in iRobot Corporation by 11.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 50,530 shares of the industrial products company’s stock worth $3,342,000 after buying an additional 5,233 shares during the period. Ameritas Investment Partners Inc. acquired a new position in iRobot Corporation in the 1st quarter worth approximately $153,000. Finally, Arizona State Retirement System increased its holdings in iRobot Corporation by 1.4% in the 1st quarter. Arizona State Retirement System now owns 14,167 shares of the industrial products company’s stock worth $937,000 after buying an additional 200 shares during the period. Institutional investors own 82.71% of the company’s stock.

iRobot Corporation Company Profile

iRobot Corporation is a consumer robot company, which is engaged in designing and building robots. The Company’s portfolio of solutions features various technologies for the connected home and var

According to Zacks, “Over the last twelve months, iRobot’s shares outperformed the industry. The company reported better-than-expected second-quarter 2017 results. Quarterly earnings and revenues surpassed the Zacks Consensus Estimates by 208% and 4%, respectively. The upside was stemmed by robust home robotics business in all end markets across the U.S., China, and the EMEA region. The company believes that sturdy demand, meaningful innovation investments and the planned Robiolas buyout would boost its results in the quarters ahead. Notably, the company raised its earnings and revenue guidance for full-year 2017.”

Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of iRobot Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 23rd. Canaccord Genuity upped their price objective on shares of iRobot Corporation from $90.00 to $95.00 and gave the company a “hold” rating in a report on Thursday, July 27th. Piper Jaffray Companies upped their price objective on shares of iRobot Corporation to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. They noted that the move was a valuation call. Dougherty & Co downgraded shares of iRobot Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 3rd. Finally, SprucePoint Capital restated a “sell” rating on shares of iRobot Corporation in a report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. iRobot Corporation has a consensus rating of “Hold” and a consensus price target of $69.13.

Shares of iRobot Corporation (NASDAQ:IRBT) traded up 0.1821% during mid-day trading on Tuesday, hitting $75.6475. 689,545 shares of the stock were exchanged. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 37.1003 and a beta of 1.19. iRobot Corporation has a 52-week low of $42.51 and a 52-week high of $109.78. The stock has a 50-day moving average price of $84.03 and a 200 day moving average price of $87.73.

iRobot Corporation (NASDAQ:IRBT) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.55. iRobot Corporation had a net margin of 7.84% and a return on equity of 14.05%. The firm had revenue of $183.14 million for the quarter, compared to the consensus estimate of $174.65 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities research analysts expect that iRobot Corporation will post $1.58 earnings per share for the current year.

WARNING: “Zacks Investment Research Upgrades iRobot Corporation (IRBT) to Buy” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://ledgergazette.com/2017/10/17/zacks-investment-research-upgrades-irobot-corporation-irbt-to-buy.html.

In related news, CEO Colin M. Angle sold 5,886 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $106.20, for a total value of $625,093.20. Following the transaction, the chief executive officer now owns 489,463 shares in the company, valued at approximately $51,980,970.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Alison Dean sold 17,646 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,588,140.00. Following the completion of the transaction, the chief financial officer now owns 82,080 shares in the company, valued at approximately $7,387,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,769 shares of company stock worth $8,878,529. 4.49% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of IRBT. UBS Asset Management Americas Inc. increased its holdings in iRobot Corporation by 114.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 12,857 shares of the industrial products company’s stock worth $850,000 after buying an additional 6,858 shares during the period. Karp Capital Management Corp acquired a new position in iRobot Corporation in the 1st quarter worth approximately $463,000. Parametric Portfolio Associates LLC increased its holdings in iRobot Corporation by 11.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 50,530 shares of the industrial products company’s stock worth $3,342,000 after buying an additional 5,233 shares during the period. Ameritas Investment Partners Inc. acquired a new position in iRobot Corporation in the 1st quarter worth approximately $153,000. Finally, Arizona State Retirement System increased its holdings in iRobot Corporation by 1.4% in the 1st quarter. Arizona State Retirement System now owns 14,167 shares of the industrial products company’s stock worth $937,000 after buying an additional 200 shares during the period. Institutional investors own 82.71% of the company’s stock.

iRobot Corporation Company Profile

iRobot Corporation is a consumer robot company, which is engaged in designing and building robots. The Company’s portfolio of solutions features various technologies for the connected home and various concepts in mapping, navigation, mobility and artificial intelligence. The Company sells various products that are designed for use at home.

Analyst Recommendations for iRobot Corporation (NASDAQ:IRBT)

Receive News & Ratings for iRobot Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iRobot Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply