iRobot (IRBT) Stock Price Up 9.2%

iRobot Co. (NASDAQ:IRBT)’s share price rose 9.2% during mid-day trading on Wednesday . The stock traded as high as $89.06 and last traded at $88.17. Approximately 1,688,544 shares traded hands during mid-day trading, an increase of 74% from the average daily volume of 969,086 shares. The stock had previously closed at $80.74.

IRBT has been the subject of several recent 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. Piper Jaffray Companies lowered iRobot from an “overweight” rating to a “neutral” rating in a research report on Monday, October 8th. Finally, Zacks Investment Research lowered iRobot from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $80.83.

The stock has a market capitalization of $2.19 billion, a PE ratio of 49.81, a PEG ratio of 1.38 and a beta of 1.43.

iRobot (NASDAQ:IRBT) last posted its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, topping the 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 during the quarter, compared to analyst estimates of $245.12 million. During the same quarter in the previous year, the firm earned $0.76 EPS. iRobot’s quarterly revenue was up 28.8% compared to the same quarter last year. On average, sell-side analysts predict that iRobot Co. will post 2.68 EPS for the current year.

In other iRobot news, EVP Russell J. Campanello sold 48,582 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $110.63, for a total value of $5,374,626.66. Following the completion of the transaction, the executive vice president now owns 86,050 shares of the company’s stock, valued at approximately $9,519,711.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Glen Daniel Weinstein sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $96.77, for a total value of $967,700.00. The disclosure for this sale can be found here. In the last three months, insiders sold 158,289 shares of company stock valued at $17,014,358. 3.51% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its position in iRobot by 74.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,556 shares of the industrial products company’s stock worth $118,000 after buying an additional 663 shares during the last quarter. Scout Investments Inc. increased its position in shares of iRobot by 1.2% during the 2nd quarter. Scout Investments Inc. now owns 57,513 shares of the industrial products company’s stock valued at $4,358,000 after purchasing an additional 688 shares during the last quarter. NEXT Financial Group Inc purchased a new stake in shares of iRobot during the 3rd quarter valued at about $121,000. Xact Kapitalforvaltning AB increased its position in shares of iRobot by 45.1% during the 1st quarter. Xact Kapitalforvaltning AB now owns 3,858 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of iRobot by 21.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 7,097 shares of the industrial products company’s stock valued at $455,000 after purchasing an additional 1,254 shares during the last quarter. 83.21% of the stock is owned by institutional investors and hedge funds.

About iRobot (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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