ValuEngine Lowers Summer Infant, Inc. (SUMR) to Sell
Summer Infant, Inc. (NASDAQ:SUMR) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
SUMR has been the topic of several other research reports. Roth Capital set a $3.00 price target on Summer Infant and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research raised Summer Infant from a “hold” rating to a “strong-buy” rating and set a $2.00 price target on the stock in a research note on Tuesday, August 8th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $2.50 price target on shares of Summer Infant in a research note on Tuesday, July 11th.
Summer Infant (NASDAQ:SUMR) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). Summer Infant had a negative net margin of 1.82% and a positive return on equity of 0.56%. The firm had revenue of $43.13 million for the quarter, compared to analyst estimates of $48.55 million.
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In related news, major shareholder Wynnefield Partners Small Cap bought 15,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were purchased at an average price of $1.86 per share, with a total value of $27,900.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC acquired a new position in Summer Infant in the second quarter valued at about $146,000. Kennedy Capital Management Inc. bought a new stake in shares of Summer Infant in the second quarter worth about $251,000. Finally, Renaissance Technologies LLC increased its holdings 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 worth $418,000 after acquiring an additional 9,300 shares in the last quarter. 47.62% of the stock is currently owned by hedge funds and other institutional investors.
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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