TIAA CREF Investment Management LLC lowered its position in iRobot (NASDAQ:IRBT) by 18.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,219 shares of the industrial products company’s stock after selling 27,738 shares during the period. TIAA CREF Investment Management LLC owned about 0.44% of iRobot worth $9,451,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado bought a new stake in shares of iRobot in the 4th quarter valued at $152,000. Raymond James Financial Services Advisors Inc. bought a new position in iRobot during the 4th quarter worth about $226,000. Flagship Harbor Advisors LLC bought a new position in iRobot during the 4th quarter worth about $236,000. Kovack Advisors Inc. bought a new position in iRobot during the 4th quarter worth about $246,000. Finally, Two Sigma Securities LLC bought a new position in iRobot during the 4th quarter worth about $350,000. Institutional investors and hedge funds own 89.36% of the company’s stock.
A number of equities analysts have issued reports on IRBT shares. Sidoti cut iRobot from a “buy” rating to a “neutral” rating in a report on Tuesday, January 30th. BidaskClub upgraded iRobot from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 18th. Zacks Investment Research cut iRobot from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Northland Securities started coverage on iRobot in a report on Friday, February 16th. They set an “outperform” rating for the company. Finally, JPMorgan Chase upgraded iRobot from an “underweight” rating to a “neutral” rating and set a $61.00 target price for the company in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $68.80.
iRobot (NASDAQ:IRBT) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.29. The company had revenue of $327.00 million during the quarter, compared to analysts’ expectations of $319.02 million. iRobot had a return on equity of 12.62% and a net margin of 5.77%. iRobot’s revenue for the quarter was up 53.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. equities analysts forecast that iRobot will post 2.26 earnings per share for the current year.
iRobot declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 27th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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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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