Summer Infant, Inc. (SUMR) Rating Lowered to Hold at Zacks Investment Research
Summer Infant, Inc. (NASDAQ:SUMR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Based in Woonsocket, Rhode Island, SUMMER INFANT, INC. is a designer, marketer and distributor of branded durable juvenile health, safety and wellness products (for ages upto three years), which are sold principally to large U.S. retailers. The Company currently sells proprietary products in a number of different categories, including nursery audio/video monitors, safety gates, durable bath products, bed rails, infant thermometers and related nursery, health and safety products, booster and potty seats, soft goods, bouncers, strollers, travel accessories, highchairs and swings. “
A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded Summer Infant from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. FBR & Co restated an “outperform” rating and issued a $2.50 target price on shares of Summer Infant in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $2.38.
Summer Infant (NASDAQ SUMR) opened at 1.72 on Thursday. Summer Infant has a 12-month low of $1.61 and a 12-month high of $2.44. The company has a 50-day moving average price of $1.81 and a 200-day moving average price of $1.89. The stock’s market capitalization is $31.87 million.
Summer Infant (NASDAQ:SUMR) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $47.34 million for the quarter, compared to the consensus estimate of $45.82 million. Summer Infant had a positive return on equity of 0.85% and a negative net margin of 1.99%. Analysts expect that Summer Infant will post $0.10 earnings per share for the current fiscal year.
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In related news, major shareholder Wynnefield Partners Small Cap acquired 185,000 shares of Summer Infant stock in a transaction that occurred on Thursday, May 25th. The shares were purchased at an average price of $1.78 per share, for a total transaction of $329,300.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen Zelkowicz acquired 15,500 shares of Summer Infant stock in a transaction that occurred on Friday, May 12th. The shares were bought at an average price of $1.70 per share, for a total transaction of $26,350.00. Following the transaction, the director now owns 33,064 shares of the company’s stock, valued at approximately $56,208.80. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 626,274 shares of company stock worth $1,100,755. 8.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the company. Wynnefield Capital Inc. boosted its stake in Summer Infant by 1.9% in the first quarter. Wynnefield Capital Inc. now owns 5,789,794 shares of the company’s stock valued at $11,000,000 after buying an additional 110,000 shares during the period. Renaissance Technologies LLC boosted its stake in Summer Infant by 4.4% in the first quarter. Renaissance Technologies LLC now owns 220,100 shares of the company’s stock valued at $418,000 after buying an additional 9,300 shares during the period. Finally, Tiemann Investment Advisors LLC acquired a new stake in Summer Infant during the first quarter valued at about $331,000. Hedge funds and other institutional investors own 50.06% of the company’s stock.
Summer Infant Company Profile
Summer Infant, Inc is an infant and juvenile products company. The Company is engaged in the juvenile industry, providing mothers and caregivers a range of products to care for babies and toddlers. As of December 31, 2016, it marketed over 1,100 products in several product categories, including monitoring, safety, nursery, baby gear and feeding products.
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