iRobot (IRBT) Upgraded to “Buy” at Sidoti

Sidoti upgraded shares of iRobot (NASDAQ:IRBT) from a neutral rating to a buy rating in a report released on Tuesday, The Fly reports.

A number of other equities analysts have also commented on IRBT. BidaskClub lowered shares of iRobot from a strong-buy rating to a buy rating in a research report on Saturday, July 21st. Needham & Company LLC reaffirmed a hold rating on shares of iRobot in a research report on Thursday, July 5th. Canaccord Genuity reaffirmed a hold rating and set a $80.00 target price on shares of iRobot in a research report on Wednesday, July 25th. ValuEngine raised shares of iRobot from a hold rating to a buy rating in a research report on Monday, August 20th. Finally, Dougherty & Co reaffirmed a neutral rating on shares of iRobot in a research report on Thursday, July 26th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $74.00.

iRobot stock traded down $0.86 during midday trading on Tuesday, reaching $89.90. The stock had a trading volume of 2,309 shares, compared to its average volume of 734,336. iRobot has a 52-week low of $55.77 and a 52-week high of $118.75. The firm has a market capitalization of $2.55 billion, a P/E ratio of 52.05, a price-to-earnings-growth ratio of 1.83 and a beta of 1.43.

iRobot (NASDAQ:IRBT) last issued its earnings results on Tuesday, July 24th. The industrial products company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.20. The business had revenue of $226.30 million for the quarter, compared to analyst estimates of $219.71 million. iRobot had a net margin of 5.90% and a return on equity of 13.27%. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. On average, equities analysts predict that iRobot will post 2.43 EPS for the current year.

In other news, EVP Russell J. Campanello sold 48,582 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $110.63, for a total transaction of $5,374,626.66. Following the transaction, the executive vice president now directly owns 86,050 shares in the company, valued at $9,519,711.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Glen Daniel Weinstein sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $96.77, for a total transaction of $967,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 175,067 shares of company stock worth $18,440,488. Insiders own 4.49% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRBT. NEXT Financial Group Inc acquired a new stake in iRobot in the third quarter valued at approximately $121,000. Psagot Investment House Ltd. acquired a new stake in iRobot in the second quarter valued at approximately $111,000. PNC Financial Services Group Inc. boosted its stake in iRobot by 74.2% in the second quarter. PNC Financial Services Group Inc. now owns 1,556 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 663 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in iRobot in the second quarter valued at approximately $202,000. Finally, Modera Wealth Management LLC acquired a new stake in iRobot in the second quarter valued at approximately $227,000. Hedge funds and other institutional investors own 83.21% of the company’s stock.

About iRobot

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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