Downgrade Alert for iRobot (IRBT)
iRobot (NASDAQ:IRBT) was downgraded from Buy to Hold at Needham today. The stock closed yesterday at $52.02 on volume of 404,000 shares, above average daily volume of 322,000.
iRobot share prices have moved between a 52-week high of $54.02 and a 52-week low of $16.25 and closed yesterday at 220% above that low price at $52.02 per share. The 200-day and 50-day moving averages have moved 0.36% higher and 1.61% higher over the past week, respectively.
iRobot Corporation manufactures robots that vacuum and wash floors, and perform battlefield reconnaissance and bomb disposal. The Company markets its products to consumers through retailers, and to the United States military and other government agencies worldwide.
Based on a current price of $52.02, iRobot is currently 26.6% above its average consensus analyst price target of $38.17. The stock should discover initial support at its 50-day moving average (MA) of $34.53 and subsequent support at its 200-day MA of $32.25.
SmarTrend recommended that subscribers consider buying shares of iRobot on August 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.13. Since that recommendation, shares of iRobot have risen 39.8%. We continue to monitor IRBT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades iRobot