Summer Infant, Inc. (SUMR) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research lowered shares of Summer Infant, Inc. (NASDAQ:SUMR) from a buy rating to a hold rating in a report issued on Tuesday morning.
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 SUMR. FBR & Co restated an outperform rating and issued a $2.50 price target on shares of Summer Infant in a research note on Tuesday, July 11th. ValuEngine downgraded Summer Infant from a hold rating to a sell rating in a research note on Friday, June 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $2.38.
Summer Infant (SUMR) opened at 1.74 on Tuesday. The stock’s 50 day moving average price is $1.77 and its 200-day moving average price is $1.85. The stock’s market cap is $32.24 million. Summer Infant has a 12 month low of $1.61 and a 12 month high of $2.44.
Summer Infant (NASDAQ:SUMR) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.02 earnings per share (EPS) for the quarter. The firm 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 anticipate that Summer Infant will post $0.10 EPS for the current fiscal year.
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In related news, Director Stephen Zelkowicz bought 15,500 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were bought at an average cost of $1.70 per share, for a total transaction of $26,350.00. Following the completion of the transaction, the director now owns 33,064 shares of the company’s stock, valued at $56,208.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Wynnefield Partners Small Cap bought 185,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were bought at an average price of $1.78 per share, for a total transaction of $329,300.00. The disclosure for this purchase can be found here. Insiders have purchased 626,274 shares of company stock worth $1,100,755 over the last quarter. 8.40% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Tiemann Investment Advisors LLC bought a new position in Summer Infant during the first quarter valued at $331,000. Renaissance Technologies LLC boosted its stake in Summer Infant by 1.1% in the fourth quarter. Renaissance Technologies LLC now owns 210,800 shares of the company’s stock worth $422,000 after buying an additional 2,300 shares in the last quarter. Finally, 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 worth $11,000,000 after buying an additional 110,000 shares in the last quarter. 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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