ValuEngine Downgrades Summer Infant, Inc. (SUMR) to Sell
ValuEngine lowered shares of Summer Infant, Inc. (NASDAQ:SUMR) from a hold rating to a sell rating in a report published on Friday.
A number of other brokerages have also recently weighed in on SUMR. FBR & Co reissued an outperform rating and set a $2.50 target price on shares of Summer Infant in a report on Tuesday, July 11th. Zacks Investment Research raised shares of Summer Infant from a hold rating to a strong-buy rating and set a $2.00 target price on the stock in a report on Wednesday, May 17th. Finally, Roth Capital set a $3.00 target price on shares of Summer Infant and gave the stock a buy rating in a report on Tuesday, August 22nd.
Shares of Summer Infant (NASDAQ:SUMR) opened at 2.01 on Friday. Summer Infant has a 52 week low of $1.65 and a 52 week high of $2.37. The firm’s market capitalization is $37.36 million. The company’s 50-day moving average is $1.85 and its 200 day moving average is $1.84.
Summer Infant (NASDAQ:SUMR) last issued its earnings results on Wednesday, August 2nd. The company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. The company had revenue of $52.58 million for the quarter, compared to analysts’ expectations of $46.33 million. Summer Infant had a negative net margin of 1.82% and a positive return on equity of 0.56%. Analysts anticipate 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 bought 15,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were bought at an average cost of $1.86 per share, with a total value of $27,900.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its holdings in shares of Summer Infant by 1.1% in the 4th quarter. Renaissance Technologies LLC now owns 210,800 shares of the company’s stock worth $422,000 after acquiring an additional 2,300 shares during the period. Tiemann Investment Advisors LLC acquired a new stake in shares of Summer Infant in the 1st quarter worth about $331,000. Wynnefield Capital Inc. increased its holdings in shares of Summer Infant by 1.9% in the 1st quarter. Wynnefield Capital Inc. now owns 5,789,794 shares of the company’s stock worth $11,000,000 after acquiring an additional 110,000 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Summer Infant in the 2nd quarter worth about $146,000. Finally, Kennedy Capital Management Inc. acquired a new stake in shares of Summer Infant in the 2nd quarter worth about $251,000. 47.62% of the stock is currently owned by institutional investors and hedge funds.
About Summer Infant
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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