Zacks Investment Research Upgrades Summer Infant, Inc. (NASDAQ:SUMR) to Strong-Buy
Summer Infant, Inc. (NASDAQ:SUMR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The firm currently has a $2.00 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 8.70% from the company’s previous close.
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 research analysts have also recently issued reports on the company. ValuEngine cut Summer Infant from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. FBR & Co reissued an “outperform” rating and issued a $2.50 target price on shares of Summer Infant in a report on Tuesday, July 11th.
Shares of Summer Infant (SUMR) traded up 1.2283% during trading on Tuesday, reaching $1.8626. The company’s stock had a trading volume of 852 shares. The stock’s market cap is $34.62 million. The stock’s 50 day moving average price is $1.76 and its 200-day moving average price is $1.84. Summer Infant has a 52-week low of $1.65 and a 52-week high of $2.44.
Summer Infant (NASDAQ:SUMR) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. Summer Infant had a positive return on equity of 0.56% and a negative net margin of 1.82%. The business had revenue of $52.58 million during the quarter, compared to analysts’ expectations of $46.33 million. Equities analysts anticipate that Summer Infant will post $0.14 EPS for the current year.
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In related news, major shareholder Wynnefield Partners Small Cap acquired 425,774 shares of Summer Infant stock in a transaction on Tuesday, May 23rd. The shares were bought at an average cost of $1.75 per share, with a total value of $745,104.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen Zelkowicz acquired 15,500 shares of Summer Infant stock in a transaction 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 purchase, 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 bought 626,274 shares of company stock worth $1,100,755 over the last 90 days. Company insiders own 8.40% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Tiemann Investment Advisors LLC acquired a new position in Summer Infant during the first quarter worth approximately $331,000. Renaissance Technologies LLC boosted its position 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 valued at $422,000 after buying an additional 2,300 shares during the period. Finally, Wynnefield Capital Inc. boosted its position 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 valued at $11,000,000 after buying an additional 110,000 shares during the period. 50.00% of the stock is currently owned by institutional investors.
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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