iRobot (NASDAQ:IRBT) Price Target Cut to $40.00 by Analysts at JPMorgan Chase & Co.

iRobot (NASDAQ:IRBT) had its price target reduced by JPMorgan Chase & Co. from $69.00 to $40.00 in a report published on Wednesday, AnalystRatings.com reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of iRobot from a hold rating to a sell rating and set a $95.00 price target on the stock. in a report on Wednesday, June 26th. Bank of America initiated coverage on shares of iRobot in a report on Friday, September 27th. They issued a buy rating and a $70.00 price target on the stock. Northland Securities reiterated a buy rating and issued a $105.00 price target on shares of iRobot in a report on Thursday, July 25th. Sidoti upgraded shares of iRobot from a neutral rating to a buy rating and set a $83.00 price target on the stock in a report on Thursday, August 29th. Finally, Citigroup set a $95.00 price target on shares of iRobot and gave the company a hold rating in a report on Wednesday, July 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $80.10.

Shares of IRBT traded down $1.46 during mid-day trading on Wednesday, reaching $47.60. The company had a trading volume of 2,575,000 shares, compared to its average volume of 978,028. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.59. The firm has a fifty day simple moving average of $59.58 and a 200-day simple moving average of $82.25. iRobot has a fifty-two week low of $44.00 and a fifty-two week high of $132.88. The company has a current ratio of 3.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.10.

iRobot (NASDAQ:IRBT) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.70. The company had revenue of $289.40 million for the quarter, compared to analyst estimates of $259.31 million. iRobot had a net margin of 7.72% and a return on equity of 16.30%. iRobot’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $1.12 EPS. As a group, equities analysts predict that iRobot will post 2.57 EPS for the current fiscal year.

In other news, Director Mohamad Ali sold 780 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $61.11, for a total value of $47,665.80. Following the transaction, the director now owns 12,634 shares of the company’s stock, valued at approximately $772,063.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.01% of the company’s stock.

Several hedge funds have recently modified their holdings of IRBT. Coastal Capital Group Inc. purchased a new stake in iRobot during the 2nd quarter worth $28,000. Patriot Financial Group Insurance Agency LLC increased its stake in iRobot by 85.1% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 435 shares of the industrial products company’s stock worth $39,000 after buying an additional 200 shares during the period. Captrust Financial Advisors increased its stake in iRobot by 66.7% during the 2nd quarter. Captrust Financial Advisors now owns 500 shares of the industrial products company’s stock worth $46,000 after buying an additional 200 shares during the period. Truvestments Capital LLC increased its stake in iRobot by 712.2% during the 3rd quarter. Truvestments Capital LLC now owns 1,397 shares of the industrial products company’s stock worth $86,000 after buying an additional 1,225 shares during the period. Finally, Advisor Group Inc. increased its stake in iRobot by 66.5% during the 2nd quarter. Advisor Group Inc. now owns 2,856 shares of the industrial products company’s stock worth $263,000 after buying an additional 1,141 shares during the period.

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 stairs.

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Analyst Recommendations for iRobot (NASDAQ:IRBT)

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