Needham & Company LLC Reaffirms Hold Rating for iRobot (NASDAQ:IRBT)

Needham & Company LLC restated their hold rating on shares of iRobot (NASDAQ:IRBT - Free Report) in a research report released on Thursday morning,Benzinga reports.

Separately, StockNews.com downgraded shares of iRobot from a "hold" rating to a "sell" rating in a research note on Sunday, October 27th.

iRobot Stock Up 1.0 %

Shares of IRBT traded up $0.07 during midday trading on Thursday, reaching $6.82. 2,382,702 shares of the company were exchanged, compared to its average volume of 1,813,149. The company has a current ratio of 1.53, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The stock has a 50-day moving average price of $7.89 and a 200-day moving average price of $8.90. The company has a market cap of $206.17 million, a price-to-earnings ratio of -0.93 and a beta of 0.86. iRobot has a 1-year low of $5.83 and a 1-year high of $42.14.

iRobot (NASDAQ:IRBT - Get Free Report) last announced its quarterly 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). The company had revenue of $166.40 million during the quarter, compared to the consensus estimate 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 for the quarter was down 29.7% on a year-over-year basis. During the same period last year, the business posted ($1.73) EPS. Research analysts expect that iRobot will post -4.43 earnings per share for the current year.

Institutional Investors Weigh In On iRobot

Large investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System grew its holdings in iRobot by 14.4% in the 1st 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 buying an additional 1,130 shares in the last quarter. CWM LLC boosted its stake in iRobot by 474.6% in the second quarter. CWM LLC now owns 2,758 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 2,278 shares during the last quarter. Swiss National Bank boosted its position in shares of iRobot by 6.0% in the first quarter. Swiss National Bank now owns 55,000 shares of the industrial products company's stock valued at $482,000 after acquiring an additional 3,100 shares during the period. Sunbelt Securities Inc. boosted its holdings in shares of iRobot by 72.6% in 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, Quest Partners LLC lifted its position in iRobot by 39.8% in the third quarter. Quest Partners LLC now owns 11,546 shares of the industrial products company's stock valued at $100,000 after purchasing an additional 3,285 shares during the last quarter. 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.