iRobot (NASDAQ:IRBT) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of iRobot (NASDAQ:IRBT) from a hold rating to a sell rating in a research report report published on Friday morning.

Separately, Needham & Company LLC reissued a hold rating on shares of iRobot in a report on Thursday, August 8th.

iRobot Stock Up 2.6 %

Shares of iRobot stock opened at $8.44 on Friday. The business has a 50-day moving average price of $7.71 and a 200 day moving average price of $8.89. iRobot has a fifty-two week low of $5.83 and a fifty-two week high of $42.14. The firm has a market cap of $242.57 million, a P/E ratio of -1.09 and a beta of 0.85. The company has a quick ratio of 1.08, a current ratio of 1.53 and a debt-to-equity ratio of 1.16.

iRobot (NASDAQ:IRBT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported ($1.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.77) by ($0.19). iRobot had a negative net margin of 25.29% and a negative return on equity of 128.49%. The firm had revenue of $166.40 million during the quarter, compared to the consensus estimate of $168.73 million. During the same quarter last year, the firm posted ($1.73) earnings per share. iRobot’s revenue was down 29.7% compared to the same quarter last year. On average, sell-side analysts forecast that iRobot will post -4.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iRobot

A number of hedge funds have recently added to or reduced their stakes in the stock. Ironwood Investment Management LLC acquired a new stake in shares of iRobot in the 2nd quarter worth about $461,000. Sunbelt Securities Inc. increased its stake in shares of iRobot by 72.6% in the second quarter. Sunbelt Securities Inc. now owns 7,550 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 3,175 shares during the period. AQR Capital Management LLC raised its holdings in shares of iRobot by 185.4% during the second quarter. AQR Capital Management LLC now owns 196,431 shares of the industrial products company’s stock valued at $1,789,000 after buying an additional 127,602 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of iRobot by 131.1% during the second quarter. Squarepoint Ops LLC now owns 79,925 shares of the industrial products company’s stock worth $728,000 after buying an additional 337,057 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of iRobot by 47.9% during the second quarter. Canada Pension Plan Investment Board now owns 93,500 shares of the industrial products company’s stock worth $852,000 after buying an additional 30,300 shares during the period. 77.42% of the stock is currently owned by institutional investors.

iRobot Company Profile

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.