iRobot Co. (NASDAQ:IRBT) EVP Russell J. Campanello sold 11,950 shares of the company’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $896,250.00. Following the completion of the transaction, the executive vice president now directly owns 86,625 shares in the company, valued at $6,496,875. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
iRobot opened at $75.92 on Friday, according to Marketbeat. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 2.23 and a beta of 1.09. iRobot Co. has a 1-year low of $55.77 and a 1-year high of $109.78.
iRobot (NASDAQ:IRBT) last announced its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.22. The business had revenue of $217.10 million during the quarter, compared to the consensus estimate of $212.81 million. iRobot had a net margin of 5.90% and a return on equity of 12.95%. The business’s revenue was up 28.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 EPS. sell-side analysts predict that iRobot Co. will post 2.3 earnings per share for the current fiscal year.
iRobot announced that its Board of Directors has initiated a share buyback program on Tuesday, February 27th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its holdings in iRobot by 702.3% in the 1st quarter. Legal & General Group Plc now owns 442,757 shares of the industrial products company’s stock valued at $28,399,000 after purchasing an additional 387,573 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its holdings in iRobot by 106.3% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 689,707 shares of the industrial products company’s stock valued at $52,900,000 after purchasing an additional 355,441 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in iRobot by 47.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 978,328 shares of the industrial products company’s stock valued at $75,038,000 after purchasing an additional 315,233 shares during the last quarter. Hunt Lane Capital LP acquired a new stake in iRobot in the 4th quarter valued at approximately $21,860,000. Finally, Vident Investment Advisory LLC increased its holdings in iRobot by 107.6% in the 4th quarter. Vident Investment Advisory LLC now owns 484,539 shares of the industrial products company’s stock valued at $37,164,000 after purchasing an additional 251,095 shares during the last quarter. Institutional investors and hedge funds own 84.10% of the company’s stock.
Several equities research analysts have weighed in on the company. ValuEngine downgraded iRobot from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. BidaskClub raised shares of iRobot from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 7th. Zacks Investment Research raised shares of iRobot from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Thursday, April 26th. JPMorgan Chase & Co. raised their price target on shares of iRobot from $61.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, April 26th. Finally, Piper Jaffray Companies raised shares of iRobot from a “neutral” rating to an “overweight” rating and raised their price target for the company from $61.80 to $78.00 in a research note on Wednesday, April 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. iRobot currently has an average rating of “Hold” and a consensus price target of $68.20.
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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