Summer Infant, Inc. (SUMR) Issues Quarterly Earnings Results
Summer Infant, Inc. (NASDAQ:SUMR) posted its earnings results on Wednesday. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.02), Bloomberg Earnings reports. The business had revenue of $43.13 million during the quarter, compared to the consensus estimate of $48.55 million. Summer Infant had a positive return on equity of 0.56% and a negative net margin of 1.82%.
In related news, major shareholder Wynnefield Partners Small Cap bought 15,000 shares of Summer Infant stock in a transaction that occurred on Monday, August 7th. The shares were acquired at an average cost of $1.86 per share, for a total transaction of $27,900.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.30% of the company’s stock.
SUMR has been the subject of several recent analyst reports. FBR & Co reaffirmed an “outperform” rating and set a $2.50 price objective on shares of Summer Infant in a report on Tuesday, July 11th. Zacks Investment Research downgraded shares of Summer Infant from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 13th. Roth Capital set a $3.00 price objective on shares of Summer Infant and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Finally, ValuEngine cut shares of Summer Infant from a “hold” rating to a “sell” rating in a research note on Friday, September 1st.
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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