StockNews.com Lowers iRobot (NASDAQ:IRBT) to Sell

StockNews.com downgraded shares of iRobot (NASDAQ:IRBT) from a hold rating to a sell rating in a report released on Tuesday.

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

iRobot Stock Performance

IRBT opened at $8.56 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The firm’s 50-day moving average price is $8.39 and its 200 day moving average price is $8.93. iRobot has a twelve month low of $5.83 and a twelve month high of $42.14. The firm has a market capitalization of $246.16 million, a PE ratio of -1.10 and a beta of 0.84.

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

Institutional Trading of iRobot

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRBT. CWM LLC lifted its holdings in iRobot by 474.6% in the second quarter. CWM LLC now owns 2,758 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 2,278 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of iRobot by 1,167.8% during the second quarter. Nisa Investment Advisors LLC now owns 4,653 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 4,286 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in iRobot in the 2nd quarter valued at about $61,000. Sunbelt Securities Inc. lifted its stake in shares of iRobot by 72.6% during the 2nd quarter. Sunbelt Securities Inc. now owns 7,550 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 3,175 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of iRobot during the 1st quarter valued at about $77,000. 77.42% of the stock is owned by hedge funds and other 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.