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

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

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

iRobot Trading Down 6.0 %

Shares of IRBT stock opened at $7.64 on Thursday. The company has a market cap of $219.70 million, a P/E ratio of -0.98 and a beta of 0.89. iRobot has a fifty-two week low of $6.48 and a fifty-two week high of $42.14. The stock has a 50 day simple moving average of $9.78 and a two-hundred day simple moving average of $10.14. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.15 and a current ratio of 1.79.

iRobot (NASDAQ:IRBT) last released 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 company had revenue of $166.40 million during the quarter, compared to the consensus estimate of $168.73 million. iRobot had a negative net margin of 24.42% and a negative return on equity of 99.56%. The business’s revenue was down 29.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.73) EPS. Research analysts forecast that iRobot will post -4.31 earnings per share for the current year.

Hedge Funds Weigh In On iRobot

A number of hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its stake in shares of iRobot by 522.0% in the fourth quarter. Allworth Financial LP now owns 678 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 569 shares during the last quarter. Byrne Asset Management LLC bought a new position in iRobot during the 4th quarter valued at $31,000. Mission Wealth Management LP boosted its holdings in iRobot by 5.3% during the 4th quarter. Mission Wealth Management LP now owns 19,164 shares of the industrial products company’s stock worth $742,000 after acquiring an additional 961 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of iRobot by 20.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,106 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 1,038 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of iRobot by 14.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 9,000 shares of the industrial products company’s stock valued at $79,000 after purchasing an additional 1,130 shares during the last quarter. Institutional investors and hedge funds 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.