Comerica Bank Reduces Stock Position in iRobot Co. (NASDAQ:IRBT)

Comerica Bank reduced its position in shares of iRobot Co. (NASDAQ:IRBTGet Rating) by 9.5% in the third quarter, HoldingsChannel.com reports. The firm owned 21,509 shares of the industrial products company’s stock after selling 2,245 shares during the period. Comerica Bank’s holdings in iRobot were worth $1,204,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IRBT. Versor Investments LP purchased a new stake in shares of iRobot during the third quarter worth about $21,836,000. Calamos Advisors LLC bought a new position in iRobot in the third quarter worth about $20,769,000. Syquant Capital Sas bought a new position in iRobot in the third quarter worth about $7,548,000. Renaissance Technologies LLC raised its stake in iRobot by 225.3% in the first quarter. Renaissance Technologies LLC now owns 149,000 shares of the industrial products company’s stock worth $9,447,000 after buying an additional 103,200 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in iRobot by 12.1% in the second quarter. Legal & General Group Plc now owns 532,421 shares of the industrial products company’s stock worth $19,566,000 after buying an additional 57,679 shares in the last quarter. 84.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of iRobot in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat.com, iRobot presently has a consensus rating of “Hold” and an average price target of $63.67.

iRobot Stock Performance

Shares of NASDAQ IRBT opened at $46.59 on Tuesday. iRobot Co. has a fifty-two week low of $35.41 and a fifty-two week high of $73.77. The company has a 50 day simple moving average of $49.46 and a two-hundred day simple moving average of $52.52. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -5.42 and a beta of 1.20.

iRobot (NASDAQ:IRBTGet Rating) last announced its earnings results on Tuesday, November 8th. The industrial products company reported ($2.08) earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($3.24). iRobot had a negative net margin of 18.24% and a negative return on equity of 19.73%. The business had revenue of $278.19 million for the quarter, compared to the consensus estimate of $439.15 million. On average, analysts forecast that iRobot Co. will post -3.93 earnings per share for the current fiscal year.

About iRobot

(Get Rating)

iRobot Corporation designs, builds, and sells robots and home innovation products in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company offers floor care products, including Roomba floor vacuuming robots; Roomba accessories and consumables, such as the Clean Base Automatic Dirt Disposal, replacement dirt disposal bags for the Clean Base, filters, brushes, and batteries; Braava family of automatic floor mopping robots; and Braava accessories and consumables, which include cleaning solution, washable and disposable mopping pads, replacement tanks, and batteries, as well as subscription services.

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Institutional Ownership by Quarter for iRobot (NASDAQ:IRBT)

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