Analysts Set iRobot Corporation (IRBT) Target Price at $70.20

Shares of iRobot Corporation (NASDAQ:IRBT) have been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $70.20.

IRBT has been the subject of several analyst reports. BidaskClub downgraded iRobot Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 23rd. Zacks Investment Research downgraded iRobot Corporation from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 31st. Canaccord Genuity upped their target price on iRobot Corporation from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Thursday, July 27th. Dougherty & Co downgraded iRobot Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, July 3rd. Finally, Piper Jaffray Companies upped their target price on iRobot Corporation to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. They noted that the move was a valuation call.

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Shares of iRobot Corporation (NASDAQ IRBT) traded up 4.23% during trading on Friday, reaching $100.87. The company had a trading volume of 740,161 shares. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 49.47 and a beta of 1.18. iRobot Corporation has a 52 week low of $39.00 and a 52 week high of $109.78. The firm has a 50-day moving average of $98.73 and a 200 day moving average of $84.06.

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

In related news, Director Ronald Chwang sold 3,243 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $106.32, for a total value of $344,795.76. Following the completion of the transaction, the director now owns 22,630 shares of the company’s stock, valued at $2,406,021.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Russell J. Campanello sold 6,906 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $85.00, for a total value of $587,010.00. Following the completion of the transaction, the executive vice president now directly owns 82,434 shares of the company’s stock, valued at approximately $7,006,890. The disclosure for this sale can be found here. Insiders sold 72,138 shares of company stock valued at $6,861,839 in the last three months. 4.49% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of IRBT. Teachers Advisors LLC boosted its holdings in iRobot Corporation by 3.6% in the fourth quarter. Teachers Advisors LLC now owns 44,233 shares of the industrial products company’s stock valued at $2,585,000 after purchasing an additional 1,520 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in iRobot Corporation by 5.8% in the first quarter. Russell Investments Group Ltd. now owns 226,131 shares of the industrial products company’s stock valued at $14,955,000 after purchasing an additional 12,466 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in iRobot Corporation by 333.9% in the first quarter. Wells Fargo & Company MN now owns 202,817 shares of the industrial products company’s stock valued at $13,415,000 after purchasing an additional 156,075 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in iRobot Corporation by 7.1% in the first quarter. Great West Life Assurance Co. Can now owns 38,050 shares of the industrial products company’s stock valued at $2,516,000 after purchasing an additional 2,531 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in iRobot Corporation by 99.7% in the first quarter. Advisors Asset Management Inc. now owns 8,499 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 4,244 shares during the last quarter. 82.73% of the stock is owned by hedge funds and other institutional investors.

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)

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