StockNews.com Upgrades iRobot (NASDAQ:IRBT) to “Hold”

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

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

iRobot Price Performance

IRBT opened at $8.50 on Thursday. The company has a fifty day moving average price of $8.04 and a two-hundred day moving average price of $8.89. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.53. iRobot has a 52 week low of $5.83 and a 52 week high of $42.14. The firm has a market capitalization of $244.43 million, a PE ratio of -1.09 and a beta of 0.85.

iRobot (NASDAQ:IRBT) last released 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 business had revenue of $166.40 million for the quarter, compared to analyst estimates of $168.73 million. During the same period in the prior year, the firm posted ($1.73) EPS. iRobot’s revenue was down 29.7% on a year-over-year basis. As a group, analysts anticipate that iRobot will post -4.43 earnings per share for the current year.

Hedge Funds Weigh In On iRobot

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRBT. CWM LLC increased its position in shares of iRobot by 474.6% during the second quarter. CWM LLC now owns 2,758 shares of the industrial products company’s stock worth $25,000 after buying an additional 2,278 shares during the period. Nisa Investment Advisors LLC increased its position 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 worth $42,000 after buying an additional 4,286 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of iRobot during the second quarter worth $61,000. Sunbelt Securities Inc. increased its position in shares of iRobot by 72.6% during the second quarter. Sunbelt Securities Inc. now owns 7,550 shares of the industrial products company’s stock worth $69,000 after buying an additional 3,175 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in iRobot in the first quarter worth $77,000. Institutional investors own 77.42% of the company’s stock.

About iRobot

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.