Summer Infant’s (NASDAQ:SUMR) “Outperform” Rating Reiterated at FBR & Co
Summer Infant, Inc. (NASDAQ:SUMR)‘s stock had its “outperform” rating reaffirmed by investment analysts at FBR & Co in a report issued on Tuesday, July 11th, MarketBeat Ratings reports. They currently have a $2.50 price target on the stock. FBR & Co’s target price suggests a potential upside of 35.87% from the stock’s current price.
Several other equities analysts also recently weighed in on the company. ValuEngine downgraded Summer Infant from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Zacks Investment Research raised Summer Infant from a “hold” rating to a “strong-buy” rating and set a $2.00 price objective for the company in a research note on Wednesday, May 17th.
Shares of Summer Infant (NASDAQ:SUMR) traded up 0.55% during mid-day trading on Tuesday, hitting $1.84. 80,327 shares of the stock were exchanged. The firm’s market cap is $34.20 million. The stock’s 50 day moving average is $1.76 and its 200 day moving average is $1.84. Summer Infant has a 12 month low of $1.65 and a 12 month high of $2.44.
Summer Infant (NASDAQ:SUMR) last issued its earnings results on Wednesday, August 2nd. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $52.58 million during the quarter, compared to the consensus estimate of $46.33 million. Summer Infant had a positive return on equity of 0.56% and a negative net margin of 1.82%. Analysts expect that Summer Infant will post $0.14 EPS for the current fiscal year.
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In other Summer Infant news, major shareholder Wynnefield Partners Small Cap acquired 425,774 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were acquired at an average price of $1.75 per share, for a total transaction of $745,104.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen Zelkowicz acquired 15,500 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were acquired at an average price of $1.70 per share, for a total transaction of $26,350.00. Following the acquisition, the director now directly owns 33,064 shares of the company’s stock, valued at $56,208.80. The disclosure for this purchase can be found here. Insiders purchased a total of 626,274 shares of company stock valued at $1,100,755 over the last ninety days. 8.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SUMR. Renaissance Technologies LLC raised its stake in shares of 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 during the last quarter. Tiemann Investment Advisors LLC acquired a new stake in shares of Summer Infant during the first quarter worth about $331,000. Wynnefield Capital Inc. raised its stake in shares of 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 during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Summer Infant during the fourth quarter valued at $283,000. Institutional investors own 50.00% 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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