iRobot Corporation (NASDAQ: IRBT) stock jumped 3.91% on Wednesday to $34.00 against a previous-day closing price of $32.72. With 0.63 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.39 million shares. During the session, the Furnishings Fixtures & Appliances company that operates in wider Consumer Cyclical sector, reached to the highest price of $34.83 whereas the lowest price it dropped to was $32.67. The 52-week range on IRBT shows that it touched its highest point at $60.24 and its lowest point at $31.37 during that stretch. It currently has a 1-year price target of $53.75. Beta for the stock currently stands at 1.10.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IRBT was up-trending over the past week, with a rise of 2.10%, but this was down by -20.88% over a month. Three-month performance dropped to -19.51% while six-month performance fell -35.59%. The stock lost -26.69% in the past year, while it has lost -29.36% so far this year. A look at the trailing 12-month EPS for IRBT yields -12.33 with Next year EPS estimates of -2.53. For the next quarter, that number is -1.45. This implies an EPS growth rate of -3.70% for this year and 43.70% for next year. EPS is expected to grow by 29.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -46.80%.
Float and Shares Shorts:
At present, 27.47 million IRBT shares are outstanding with a float of 26.92 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.34 million, which was 15.74% higher than short shares on Mar 30, 2023. In addition to Mr. Colin M. Angle as the firm’s Founder, Chairman & CEO, Ms. Julie Zeiler serves as its Exec. VP & CFO.
Through their ownership of 100.93% of IRBT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.57% of IRBT, in contrast to 39.74% held by mutual funds. Shares owned by individuals account for 15.99%. As the largest shareholder in IRBT with 15.03% of the stake, BlackRock Fund Advisors holds 4,121,431 shares worth 4,121,431. A second-largest stockholder of IRBT, The Vanguard Group, Inc., holds 2,885,129 shares, controlling over 10.52% of the firm’s shares. PRIMECAP Management Co. is the third largest shareholder in IRBT, holding 1,885,953 shares or 6.88% stake. With a 7.19% stake in IRBT, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 1,970,986 shares are owned by the mutual fund manager. The PRIMECAP Odyssey Growth Fund, which owns about 3.88% of IRBT stock, is the second-largest Mutual Fund holder. It holds 1,064,658 shares valued at 41.87 million. Pictet – Robotics holds 3.27% of the stake in IRBT, owning 896,206 shares worth 35.25 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 31, 2023, IRBT reported revenue of $255.35M and operating income of -$63.91M. The EBITDA in the recently reported quarter was -$63.39M and diluted EPS was -$1.60.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IRBT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IRBT analysts setting a high price target of $61.00 and a low target of $61.00, the average target price over the next 12 months is $61.00. Based on these targets, IRBT could surge 79.41% to reach the target high and rise by 79.41% to reach the target low. Reaching the average price target will result in a growth of 79.41% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded IRBT stock several times over the past three months with 9 Buys and 34 Sells. In these transactions, 341,981 shares were bought while 64,689 shares were sold. The number of buy transactions has increased to 24 while that of sell transactions has risen to 39 over the past year. The total number of shares bought during that period was 410,386 while 70,996 shares were sold.