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

iRobot (NASDAQ:IRBT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

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

iRobot Stock Performance

NASDAQ IRBT opened at $8.50 on Thursday. The company has a market capitalization of $244.43 million, a price-to-earnings ratio of -1.08 and a beta of 0.85. iRobot has a twelve month low of $5.83 and a twelve month high of $42.14. The stock has a fifty day simple moving average of $8.12 and a 200 day simple moving average of $8.89. The company has a quick ratio of 1.08, a current ratio of 1.53 and a debt-to-equity ratio of 1.16.

iRobot (NASDAQ:IRBT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported ($1.96) earnings per share 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 quarter in the previous year, the business posted ($1.73) earnings per share. The business’s revenue was down 29.7% on a year-over-year basis. Sell-side analysts expect that iRobot will post -4.43 EPS for the current year.

Hedge Funds Weigh In On iRobot

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC boosted its position in shares of iRobot by 474.6% during the 2nd quarter. CWM LLC now owns 2,758 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 2,278 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of iRobot by 1,167.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,653 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 4,286 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of iRobot during the 2nd quarter worth about $61,000. Sunbelt Securities Inc. boosted its position 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of iRobot during the 1st quarter worth about $77,000. Institutional investors own 77.42% of the company’s stock.

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.