Summer Infant, Inc. (NASDAQ:SUMR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

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. “

Several other research analysts also recently commented on SUMR. ValuEngine downgraded shares of Summer Infant from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. FBR & Co reaffirmed an “outperform” rating and issued a $2.50 price objective on shares of Summer Infant in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $2.38.

Shares of Summer Infant (NASDAQ SUMR) opened at 1.73 on Tuesday. The company’s market capitalization is $32.05 million. Summer Infant has a 1-year low of $1.61 and a 1-year high of $2.44. The stock has a 50 day moving average price of $1.80 and a 200 day moving average price of $1.85.

Summer Infant (NASDAQ:SUMR) last released its earnings results on Thursday, May 4th. The company reported $0.02 earnings per share for the quarter. Summer Infant had a negative net margin of 1.99% and a positive return on equity of 0.85%. The firm had revenue of $47.34 million during the quarter, compared to the consensus estimate of $45.82 million. Analysts forecast that Summer Infant will post $0.10 earnings per share for the current year.

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In other news, Director Stephen Zelkowicz bought 15,500 shares of the stock in a transaction on Friday, May 12th. The shares were acquired at an average cost of $1.70 per share, for a total transaction of $26,350.00. Following the purchase, the director now directly owns 33,064 shares of the company’s stock, valued at approximately $56,208.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Wynnefield Partners Small Cap bought 425,774 shares of the stock in a transaction on Tuesday, May 23rd. The stock was purchased at an average price of $1.75 per share, for a total transaction of $745,104.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 626,274 shares of company stock valued at $1,100,755. 8.40% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. 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 valued at $11,000,000 after buying an additional 110,000 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Summer Infant by 4.4% in the first quarter. Renaissance Technologies LLC now owns 220,100 shares of the company’s stock valued at $418,000 after buying an additional 9,300 shares during the period. Finally, Tiemann Investment Advisors LLC bought a new stake in Summer Infant during the first quarter valued at $331,000. Institutional investors and hedge funds 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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