Zacks: Brokerages Expect iRobot Corporation (IRBT) Will Announce Quarterly Sales of $207.37 Million
Wall Street brokerages expect iRobot Corporation (NASDAQ:IRBT) to report $207.37 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for iRobot Corporation’s earnings. The lowest sales estimate is $205.00 million and the highest is $209.73 million. iRobot Corporation reported sales of $168.61 million in the same quarter last year, which would suggest a positive year over year growth rate of 23%. The business is scheduled to report its next earnings results after the market closes on Tuesday, October 24th.
According to Zacks, analysts expect that iRobot Corporation will report full-year sales of $207.37 million for the current year, with estimates ranging from $820.00 million to $850.92 million. For the next year, analysts forecast that the firm will post sales of $992.63 million per share, with estimates ranging from $983.62 million to $1.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for iRobot Corporation.
iRobot Corporation (NASDAQ:IRBT) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.55. The firm had revenue of $183.14 million during the quarter, compared to the consensus estimate of $174.65 million. iRobot Corporation had a return on equity of 14.05% and a net margin of 7.84%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 EPS.
Several brokerages recently commented on IRBT. BidaskClub upgraded iRobot Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies boosted their price target on iRobot Corporation to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. They noted that the move was a valuation call. Dougherty & Co cut iRobot Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, July 3rd. Canaccord Genuity boosted their price target on iRobot Corporation from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research upgraded iRobot Corporation from a “hold” rating to a “strong-buy” rating and set a $121.00 price target for the company in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $73.63.
iRobot Corporation (IRBT) opened at 75.62 on Monday. The company has a market capitalization of $2.09 billion, a P/E ratio of 37.09 and a beta of 1.18. The stock’s 50 day moving average price is $86.50 and its 200-day moving average price is $86.82. iRobot Corporation has a 52-week low of $42.06 and a 52-week high of $109.78.
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In other iRobot Corporation news, CFO Alison Dean sold 17,646 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $90.00, for a total value of $1,588,140.00. Following the completion of the sale, the chief financial officer now directly owns 82,080 shares in the company, valued at approximately $7,387,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Russell J. Campanello sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $85.00, for a total value of $850,000.00. Following the completion of the sale, the executive vice president now owns 82,434 shares of the company’s stock, valued at $7,006,890. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,769 shares of company stock valued at $9,728,529. 4.49% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in IRBT. Creative Planning lifted its stake in shares of iRobot Corporation by 14.0% in the 2nd quarter. Creative Planning now owns 1,317 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 162 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of iRobot Corporation by 16.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,988 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 277 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in shares of iRobot Corporation by 66.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,665 shares of the industrial products company’s stock valued at $140,000 after purchasing an additional 665 shares during the last quarter. FNY Partners Fund LP acquired a new position in shares of iRobot Corporation in the 2nd quarter valued at $143,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of iRobot Corporation in the 1st quarter valued at $153,000. 82.73% of the stock is currently owned by institutional investors and hedge funds.
About iRobot Corporation
iRobot Corporation is a consumer robot company, which is engaged in designing and building robots. The Company’s portfolio of solutions features various technologies for the connected home and various concepts in mapping, navigation, mobility and artificial intelligence. The Company sells various products that are designed for use at home.
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