iRobot (NASDAQ:IRBT) Stock Rating Upgraded by StockNews.com

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

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

iRobot Trading Down 2.2 %

Shares of iRobot stock opened at $7.19 on Monday. The firm has a market capitalization of $206.76 million, a price-to-earnings ratio of -0.93 and a beta of 0.84. iRobot has a fifty-two week low of $5.83 and a fifty-two week high of $42.14. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.53. The stock has a 50 day moving average of $8.78 and a 200 day moving average of $9.06.

iRobot (NASDAQ:IRBT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported ($1.96) earnings per share for the quarter, missing the consensus estimate of ($1.77) by ($0.19). The business had revenue of $166.40 million during the quarter, compared to analysts’ expectations of $168.73 million. iRobot had a negative return on equity of 128.49% and a negative net margin of 25.29%. The company’s revenue was down 29.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.73) earnings per share. As a group, research analysts predict that iRobot will post -4.43 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in iRobot by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,986,963 shares of the industrial products company’s stock valued at $115,595,000 after purchasing an additional 34,042 shares during the period. Federated Hermes Inc. boosted its holdings in iRobot by 2.8% in the second quarter. Federated Hermes Inc. now owns 796,923 shares of the industrial products company’s stock valued at $7,260,000 after purchasing an additional 21,982 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in iRobot by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 495,151 shares of the industrial products company’s stock valued at $19,162,000 after purchasing an additional 43,131 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in iRobot in the first quarter valued at $4,083,000. Finally, Hsbc Holdings PLC boosted its holdings in iRobot by 11.2% in the fourth quarter. Hsbc Holdings PLC now owns 329,872 shares of the industrial products company’s stock valued at $12,763,000 after purchasing an additional 33,356 shares during the period. 77.42% of the stock is currently owned by hedge funds and other institutional investors.

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.