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

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

Separately, Needham & Company LLC reiterated a hold rating on shares of iRobot in a research note on Thursday.

iRobot Trading Down 6.0 %

Shares of NASDAQ:IRBT opened at $7.64 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.79 and a quick ratio of 1.15. iRobot has a 1 year low of $6.48 and a 1 year high of $42.14. The company has a market cap of $219.70 million, a P/E ratio of -0.98 and a beta of 0.89. The stock’s fifty day moving average price is $9.78 and its 200-day moving average price is $10.14.

iRobot (NASDAQ:IRBT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported ($1.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.77) by ($0.19). iRobot had a negative net margin of 24.42% and a negative return on equity of 99.56%. The company had revenue of $166.40 million for the quarter, compared to the consensus estimate of $168.73 million. During the same quarter in the prior year, the company posted ($1.73) EPS. iRobot’s revenue was down 29.7% on a year-over-year basis. Sell-side analysts expect that iRobot will post -4.31 earnings per share for the current year.

Hedge Funds Weigh In On iRobot

Several institutional investors have recently made changes to their positions in IRBT. Allworth Financial LP increased its holdings in iRobot by 522.0% during the fourth quarter. Allworth Financial LP now owns 678 shares of the industrial products company’s stock valued at $26,000 after buying an additional 569 shares during the last quarter. Byrne Asset Management LLC purchased a new stake in shares of iRobot in the 4th quarter worth $31,000. International Assets Investment Management LLC bought a new position in iRobot in the 4th quarter worth $60,000. CWM LLC lifted its position in iRobot by 474.6% during the second quarter. CWM LLC now owns 2,758 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 2,278 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in iRobot by 11,822.9% during the fourth quarter. Larson Financial Group LLC now owns 4,173 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 4,138 shares during the period. 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.