UPDATE: JPMorgan Downgrades iRobot Corporation (IRBT) to Neutral

July 29, 2021 6:04 AM EDT
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Price: $82.91 +2.76%

Rating Summary:
    4 Buy, 11 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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(Updated - July 29, 2021 6:05 AM EDT)

JPMorgan analyst Mark Strouse downgraded iRobot Corporation (NASDAQ: IRBT) from Overweight to Neutral with a price target of $103.00 (from $150.00).

The analyst comments "IRBT is trading at ~9x our FY22 PF EBITDA, and ~16x our CY22E PF EPS, or 32% and 37% discounts to the three-year historical forward average. We expect the multiple to remain depressed given the execution challenges driven by component shortages, though we do expect earnings leverage to return in the 2H22 as supply constraints normalize, Malaysia manufacturing facility ramps, and DTC product mix accelerates."

For an analyst ratings summary and ratings history on iRobot Corporation click here. For more ratings news on iRobot Corporation click here.

Shares of iRobot Corporation closed at $88.83 yesterday.

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