Wall Street analysts expect that iRobot Co. (NASDAQ:IRBT) will report sales of $217.74 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for iRobot’s earnings, with estimates ranging from $213.95 million to $223.13 million. iRobot posted sales of $168.47 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 29.2%. The business is scheduled to announce its next quarterly earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that iRobot will report full-year sales of $217.74 million for the current fiscal year, with estimates ranging from $1.06 billion to $1.08 billion. For the next fiscal year, analysts expect that the company will report sales of $1.22 billion per share, with estimates ranging from $1.18 billion to $1.25 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for iRobot.
iRobot (NASDAQ:IRBT) last released its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.29. iRobot had a net margin of 5.77% and a return on equity of 12.62%. The firm had revenue of $327.00 million during the quarter, compared to analyst estimates of $319.02 million. During the same quarter last year, the business earned $0.45 EPS. The company’s revenue was up 53.9% compared to the same quarter last year.
Several research analysts have issued reports on the stock. UBS upgraded shares of iRobot from a “market perform” rating to an “outperform” rating in a report on Friday, February 9th. BidaskClub raised shares of iRobot from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 18th. Piper Jaffray Companies reaffirmed a “neutral” rating on shares of iRobot in a research report on Thursday, February 8th. Sidoti downgraded shares of iRobot from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 30th. Finally, Zacks Investment Research downgraded shares of iRobot from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued 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 $68.80.
In related news, Director Andrew Miller sold 441 shares of iRobot stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $80.11, for a total value of $35,328.51. Following the completion of the sale, the director now owns 4,670 shares of the company’s stock, valued at approximately $374,113.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Colin M. Angle sold 45,200 shares of iRobot stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $80.06, for a total transaction of $3,618,712.00. Following the completion of the sale, the chief executive officer now directly owns 534,663 shares of the company’s stock, valued at approximately $42,805,119.78. The disclosure for this sale can be found here. Company insiders own 4.49% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. acquired a new stake in iRobot in the 3rd quarter valued at $359,000. Cipher Capital LP acquired a new stake in iRobot in the 3rd quarter valued at $411,000. Sei Investments Co. grew its position in iRobot by 27.6% in the 3rd quarter. Sei Investments Co. now owns 56,698 shares of the industrial products company’s stock valued at $4,369,000 after purchasing an additional 12,274 shares during the period. Prudential Financial Inc. grew its position in iRobot by 5.9% in the 3rd quarter. Prudential Financial Inc. now owns 52,035 shares of the industrial products company’s stock valued at $4,010,000 after purchasing an additional 2,890 shares during the period. Finally, Hussman Strategic Advisors Inc. acquired a new stake in iRobot in the 4th quarter valued at $3,498,000. 89.27% of the stock is owned by institutional investors and hedge funds.
IRBT stock traded up $1.35 during trading on Friday, reaching $69.21. 416,038 shares of the company’s stock traded hands, compared to its average volume of 1,163,761. iRobot has a 52-week low of $55.77 and a 52-week high of $109.78. The company has a market cap of $1,869.54, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 1.94 and a beta of 1.16.
iRobot announced that its board has initiated a stock repurchase plan on Tuesday, February 27th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
iRobot 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.
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