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

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

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

iRobot Trading Down 1.3 %

Shares of IRBT opened at $8.50 on Thursday. iRobot has a 12-month low of $5.83 and a 12-month high of $42.14. The firm has a market capitalization of $244.43 million, a P/E ratio of -1.09 and a beta of 0.85. The firm has a 50-day moving average price of $8.04 and a 200 day moving average price of $8.89. The company has a current ratio of 1.53, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16.

iRobot (NASDAQ:IRBT) last released its quarterly earnings data 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). The business had revenue of $166.40 million during the quarter, compared to analyst estimates of $168.73 million. iRobot had a negative net margin of 25.29% and a negative return on equity of 128.49%. The company’s revenue was down 29.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.73) earnings per share. Sell-side analysts forecast that iRobot will post -4.43 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of iRobot by 474.6% in the 2nd quarter. CWM LLC now owns 2,758 shares of the industrial products company’s stock valued at $25,000 after buying an additional 2,278 shares during the period. Nisa Investment Advisors LLC grew its position in iRobot by 1,167.8% in the 2nd 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 in the last quarter. Daiwa Securities Group Inc. purchased a new stake in iRobot during the second quarter worth about $61,000. Sunbelt Securities Inc. lifted 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 purchasing an additional 3,175 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of iRobot during the first quarter worth about $77,000. 77.42% of the stock is currently owned by institutional investors and hedge funds.

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.