Zacks Investment Research downgraded shares of iRobot Corporation (NASDAQ:IRBT) from a buy rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “iRobot’s third-quarter 2017 earnings of 60 cents per share surpassed the Zacks Consensus Estimate by 36.4%. This upside stemmed from a robust home robotics business in all end markets across the United States, Europe and the EMEA region. The company believes that a sturdy demand, meaningful innovation investments and the planned Robiolas buyout would boost its results in the quarters ahead. However, the stock has underperformed the industry and looks overvalued in the last three-month period. Headwinds such as a sudden supply-chain management problem or an excessive industry rivalry might hurt the company’s results in the quarters ahead.”

IRBT has been the topic of a number of other research reports. Dougherty & Co restated a neutral rating on shares of iRobot Corporation in a research report on Thursday, October 26th. BidaskClub downgraded shares of iRobot Corporation from a strong-buy rating to a buy rating in a research report on Wednesday, August 23rd. SprucePoint Capital restated a sell rating on shares of iRobot Corporation in a research report on Thursday, September 14th. Needham & Company LLC restated a hold rating on shares of iRobot Corporation in a research report on Thursday, October 26th. Finally, Sidoti upgraded shares of iRobot Corporation from a neutral rating to a buy rating in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $62.57.

iRobot Corporation (NASDAQ:IRBT) opened at $67.40 on Wednesday. The firm has a market cap of $1,865.09, a P/E ratio of 35.85, a P/E/G ratio of 1.83 and a beta of 1.00. iRobot Corporation has a 52-week low of $48.85 and a 52-week high of $109.78.

iRobot Corporation (NASDAQ:IRBT) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.16. The company had revenue of $205.40 million for the quarter, compared to the consensus estimate of $204.52 million. iRobot Corporation had a net margin of 7.80% and a return on equity of 12.79%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 earnings per share. equities analysts forecast that iRobot Corporation will post 1.84 earnings per share for the current fiscal year.

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In other iRobot Corporation news, Director Ronald Chwang sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $92.71, for a total transaction of $927,100.00. Following the completion of the sale, the director now directly owns 12,630 shares of the company’s stock, valued at $1,170,927.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Glen Daniel Weinstein sold 728 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $100.00, for a total transaction of $72,800.00. Following the sale, the executive vice president now directly owns 68,355 shares of the company’s stock, valued at $6,835,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,537 shares of company stock valued at $4,380,800. 4.49% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in IRBT. Creative Planning increased its holdings in iRobot Corporation by 14.0% during the second quarter. Creative Planning now owns 1,317 shares of the industrial products company’s stock valued at $111,000 after buying an additional 162 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in iRobot Corporation by 16.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,988 shares of the industrial products company’s stock valued at $132,000 after buying an additional 277 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in iRobot Corporation by 66.5% during the second quarter. Riverhead Capital Management LLC now owns 1,665 shares of the industrial products company’s stock valued at $140,000 after buying an additional 665 shares during the last quarter. FNY Partners Fund LP purchased a new stake in iRobot Corporation during the second quarter valued at approximately $143,000. Finally, NEXT Financial Group Inc increased its stake in shares of iRobot Corporation by 6.2% in the second quarter. NEXT Financial Group Inc now owns 1,890 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 110 shares in the last quarter. 81.25% of the stock is 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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