iRobot (NASDAQ:IRBT) Downgraded by StockNews.com

StockNews.com downgraded shares of iRobot (NASDAQ:IRBT) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

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

iRobot Price Performance

Shares of IRBT opened at $8.56 on Tuesday. 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 company has a 50 day moving average price of $8.39 and a 200-day moving average price of $8.93. iRobot has a fifty-two week low of $5.83 and a fifty-two week high of $42.14. The stock has a market capitalization of $246.16 million, a PE ratio of -1.10 and a beta of 0.84.

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 analysts’ consensus estimates of ($1.77) by ($0.19). The company had revenue of $166.40 million for the quarter, compared to the consensus estimate of $168.73 million. iRobot had a negative net margin of 25.29% and a negative return on equity of 128.49%. iRobot’s revenue for the quarter was down 29.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.73) EPS. Equities analysts predict that iRobot will post -4.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Ironwood Investment Management LLC acquired a new stake in iRobot during the 2nd quarter worth about $461,000. Sunbelt Securities Inc. raised its position in iRobot by 72.6% during the second quarter. Sunbelt Securities Inc. now owns 7,550 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 3,175 shares in the last quarter. AQR Capital Management LLC raised its position in iRobot by 185.4% during the second quarter. AQR Capital Management LLC now owns 196,431 shares of the industrial products company’s stock valued at $1,789,000 after acquiring an additional 127,602 shares in the last quarter. Squarepoint Ops LLC boosted its position in iRobot by 131.1% in the 2nd quarter. Squarepoint Ops LLC now owns 79,925 shares of the industrial products company’s stock worth $728,000 after purchasing an additional 337,057 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of iRobot by 47.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 93,500 shares of the industrial products company’s stock worth $852,000 after purchasing an additional 30,300 shares during the period. Hedge funds and other 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.