Summer Infant (NASDAQ:SUMR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Friday.
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 analysts have also recently weighed in on SUMR. ValuEngine cut Summer Infant from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. B. Riley reissued a “buy” rating on shares of Summer Infant in a report on Thursday, November 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $2.50.
Summer Infant (NASDAQ:SUMR) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). Summer Infant had a negative net margin of 2.66% and a positive return on equity of 0.43%. The business had revenue of $43.13 million during the quarter, compared to the consensus estimate of $48.55 million. equities analysts predict that Summer Infant will post 0.13 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. Macquarie Group Ltd. acquired a new position in shares of Summer Infant during the 3rd quarter worth about $141,000. Janus Henderson Group PLC acquired a new position in shares of Summer Infant during the 2nd quarter worth about $146,000. Kennedy Capital Management Inc. acquired a new position in shares of Summer Infant during the 2nd quarter worth about $251,000. Finally, Quantum Capital Management grew its position in shares of Summer Infant by 750.5% during the 3rd quarter. Quantum Capital Management now owns 227,936 shares of the company’s stock worth $431,000 after buying an additional 201,136 shares during the period. 49.70% of the stock is 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Summer Infant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summer Infant and related companies with MarketBeat.com's FREE daily email newsletter.