iRobot Co. (IRBT) Forecasted to Post FY2019 Earnings of $2.99 Per Share

iRobot Co. (NASDAQ:IRBT) – Dougherty & Co cut their FY2019 earnings estimates for iRobot in a research report issued on Thursday, October 25th. Dougherty & Co analyst C. Anderson now anticipates that the industrial products company will post earnings of $2.99 per share for the year, down from their previous forecast of $3.19. Dougherty & Co has a “Neutral” rating on the stock.

Several other research analysts also recently weighed in on the stock. BidaskClub upgraded shares of iRobot from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 24th. Canaccord Genuity restated a “hold” rating and issued a $80.00 target price on shares of iRobot in a research note on Friday, August 10th. Sidoti downgraded shares of iRobot from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 4th. They noted that the move was a valuation call. Piper Jaffray Companies downgraded shares of iRobot from an “overweight” rating to a “neutral” rating in a research note on Monday, October 8th. Finally, Zacks Investment Research downgraded shares of iRobot from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $80.83.



Shares of IRBT stock opened at $79.78 on Monday. The firm has a market capitalization of $2.19 billion, a PE ratio of 45.07, a PEG ratio of 1.49 and a beta of 1.43. iRobot has a twelve month low of $55.77 and a twelve month high of $118.75.

iRobot (NASDAQ:IRBT) last announced its earnings results on Tuesday, October 23rd. The industrial products company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.64. The business had revenue of $264.50 million during the quarter, compared to the consensus estimate of $245.12 million. iRobot had a net margin of 6.52% and a return on equity of 15.95%. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share.

A number of institutional investors and hedge funds have recently bought and sold shares of IRBT. Russell Investments Group Ltd. raised its holdings in iRobot by 187.6% in the first quarter. Russell Investments Group Ltd. now owns 35,319 shares of the industrial products company’s stock valued at $2,266,000 after acquiring an additional 23,038 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in iRobot by 21.5% in the first quarter. Commonwealth Equity Services LLC now owns 7,097 shares of the industrial products company’s stock valued at $455,000 after acquiring an additional 1,254 shares in the last quarter. UBS Group AG raised its holdings in iRobot by 24.0% in the first quarter. UBS Group AG now owns 92,331 shares of the industrial products company’s stock valued at $5,927,000 after acquiring an additional 17,849 shares in the last quarter. LPL Financial LLC acquired a new stake in iRobot in the first quarter valued at $709,000. Finally, Legal & General Group Plc raised its holdings in iRobot by 702.3% in the first quarter. Legal & General Group Plc now owns 442,757 shares of the industrial products company’s stock valued at $28,399,000 after acquiring an additional 387,573 shares in the last quarter. 83.21% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Russell J. Campanello sold 48,582 shares of the company’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $110.63, for a total value of $5,374,626.66. Following the sale, the executive vice president now directly owns 86,050 shares of the company’s stock, valued at $9,519,711.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Glen Daniel Weinstein sold 10,000 shares of the company’s stock in a transaction 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. Insiders sold 158,289 shares of company stock worth $17,014,358 over the last ninety days. 4.49% of the stock is currently owned by corporate insiders.

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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Earnings History and Estimates for iRobot (NASDAQ:IRBT)

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