iRobot (NASDAQ:IRBT) Receives "Sell (E+)" Rating from Weiss Ratings

Key Points

• iRobot's stock has received a "sell (E+)" rating from Weiss Ratings, indicating ongoing challenges for the company in the market.
• Institutional investors have shown increased interest, with JPMorgan Chase & Co. and Bank of America significantly boosting their positions in iRobot shares during the second quarter.
• Despite a reported EPS of ($0.27) in its most recent quarterly earnings, exceeding expectations, the company's overall financial health is still marked by a negative return on equity and margins.

iRobot (NASDAQ:IRBT - Get Free Report)'s stock had its "sell (e+)" rating reiterated by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

IRBT has been the subject of several other research reports. Needham & Company LLC reissued a "hold" rating on shares of iRobot in a research report on Thursday, August 14th. Wall Street Zen cut shares of iRobot from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce".

iRobot Price Performance

Shares of iRobot stock opened at $4.15 on Wednesday. The business has a 50-day simple moving average of $3.71 and a 200 day simple moving average of $3.32. iRobot has a one year low of $1.76 and a one year high of $13.06. The firm has a market capitalization of $130.18 million, a price-to-earnings ratio of -0.66 and a beta of 0.95.

iRobot (NASDAQ:IRBT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The industrial products company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $0.64. The business had revenue of $127.60 million for the quarter, compared to analyst estimates of $125.00 million. iRobot had a negative return on equity of 296.63% and a negative net margin of 32.55%. On average, sell-side analysts expect that iRobot will post -5.74 EPS for the current year.

Institutional Trading of iRobot

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in iRobot by 165.1% during the second quarter. JPMorgan Chase & Co. now owns 1,023,401 shares of the industrial products company's stock worth $3,203,000 after purchasing an additional 637,392 shares during the last quarter. Bank of America Corp DE lifted its position in shares of iRobot by 178.3% during the 2nd quarter. Bank of America Corp DE now owns 898,027 shares of the industrial products company's stock worth $2,811,000 after buying an additional 575,312 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of iRobot by 317.2% in the 1st quarter. Private Advisor Group LLC now owns 462,880 shares of the industrial products company's stock worth $1,250,000 after buying an additional 351,925 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of iRobot by 333.3% in the first quarter. Deutsche Bank AG now owns 305,679 shares of the industrial products company's stock valued at $825,000 after acquiring an additional 235,133 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new position in shares of iRobot in the second quarter valued at approximately $586,000. Hedge funds and other institutional investors 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.

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