Summer Infant, Inc. (SUMR) Announces Earnings Results
Summer Infant, Inc. (NASDAQ:SUMR) posted its quarterly earnings results on Wednesday. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01, Bloomberg Earnings reports. The business had revenue of $52.58 million during the quarter, compared to analysts’ expectations of $46.33 million. Summer Infant had a negative net margin of 1.99% and a positive return on equity of 0.85%.
Summer Infant (NASDAQ:SUMR) traded up 1.67% on Friday, hitting $1.83. 51,115 shares of the company’s stock were exchanged. The stock’s market cap is $34.02 million. The firm has a 50 day moving average price of $1.76 and a 200-day moving average price of $1.84. Summer Infant has a 52-week low of $1.65 and a 52-week high of $2.44.
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In other news, Director Stephen Zelkowicz purchased 15,500 shares of the company’s 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 purchase, the director now directly owns 33,064 shares in the company, valued at approximately $56,208.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Wynnefield Partners Small Cap purchased 185,000 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was purchased 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 bought a total of 626,274 shares of company stock worth $1,100,755 over the last ninety days. Insiders own 8.40% of the company’s stock.
A number of equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Summer Infant from a “strong sell” rating to a “hold” rating in a report on Saturday, May 6th. ValuEngine lowered shares of Summer Infant from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $2.50 price objective on shares of Summer Infant in a research note on Tuesday, July 11th.
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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