Summer Infant, Inc. (NASDAQ:SUMR) Given Average Rating of “Strong Buy” by Brokerages
Shares of Summer Infant, Inc. (NASDAQ:SUMR) have earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus price target of $2.50 for the company and are forecasting that the company will post $0.03 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Summer Infant an industry rank of 53 out of 265 based on the ratings given to its competitors.
A number of brokerages recently commented on SUMR. Zacks Investment Research raised shares of Summer Infant from a “strong sell” rating to a “hold” rating in a report on Saturday, May 6th. ValuEngine downgraded shares of Summer Infant from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, FBR & Co reissued an “outperform” rating and issued a $2.50 price objective on shares of Summer Infant in a research note on Tuesday, July 11th.
In other news, Director Stephen Zelkowicz acquired 15,500 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was acquired at an average price of $1.70 per share, with a total value of $26,350.00. Following the completion of the purchase, the director now directly owns 33,064 shares in the company, valued at $56,208.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Wynnefield Partners Small Cap acquired 425,774 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was purchased at an average cost of $1.75 per share, with a total value of $745,104.50. The disclosure for this purchase can be found here. In the last three months, insiders acquired 626,274 shares of company stock valued at $1,100,755. 8.40% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in SUMR. Wynnefield Capital Inc. increased 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 valued at $11,000,000 after buying an additional 110,000 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of 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 last quarter. Finally, Tiemann Investment Advisors LLC purchased a new stake in shares of Summer Infant during the first quarter valued at about $331,000. 50.00% of the stock is owned by institutional investors and hedge funds.
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Shares of Summer Infant (NASDAQ:SUMR) opened at 1.84 on Tuesday. The stock has a 50 day moving average price of $1.76 and a 200-day moving average price of $1.84. The company’s market cap is $34.20 million. Summer Infant has a 1-year low of $1.65 and a 1-year high of $2.44.
Summer Infant (NASDAQ:SUMR) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. Summer Infant had a negative net margin of 1.82% and a positive return on equity of 0.56%. The firm had revenue of $52.58 million during the quarter, compared to the consensus estimate of $46.33 million. Equities research analysts forecast that Summer Infant will post $0.14 earnings per share for the current year.
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.
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