Summer Infant (SUMR) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Summer Infant (NASDAQ:SUMR) from a hold rating to a buy rating in a report released on Wednesday. Zacks Investment Research currently has $1.50 price target on the stock.

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. “

Separately, ValuEngine downgraded shares of Summer Infant from a hold rating to a sell rating in a research report on Monday, July 2nd.

SUMR traded down $0.01 on Wednesday, reaching $1.33. 47,555 shares of the company traded hands, compared to its average volume of 76,544. Summer Infant has a one year low of $0.72 and a one year high of $1.98. The firm has a market capitalization of $29.66 million, a price-to-earnings ratio of 19.00 and a beta of -0.13. The company has a debt-to-equity ratio of 3.73, a current ratio of 1.88 and a quick ratio of 1.10.

Summer Infant (NASDAQ:SUMR) last posted its earnings results on Wednesday, August 1st. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $47.68 million for the quarter, compared to the consensus estimate of $43.11 million. Summer Infant had a negative net margin of 2.99% and a positive return on equity of 4.13%. On average, equities analysts anticipate that Summer Infant will post 0.15 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Summer Infant stock. Wynnefield Capital Inc. raised its holdings in shares of Summer Infant, Inc. (NASDAQ:SUMR) by 4.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,683,932 shares of the company’s stock after purchasing an additional 268,364 shares during the period. Summer Infant accounts for about 3.4% of Wynnefield Capital Inc.’s portfolio, making the stock its 12th largest position. Wynnefield Capital Inc. owned 35.61% of Summer Infant worth $9,291,000 as of its most recent SEC filing. 45.70% of the stock is owned by institutional investors.

About Summer Infant

Summer Infant, Inc, together with its subsidiaries, designs, markets, and distributes branded juvenile health, safety, and wellness products primarily in North America. The company markets approximately 1,100 products in various product categories, such as monitoring, safety, nursery, baby gear, and feeding products under the Summer Infant, SwaddleMe, and Born Free brand names.

See Also: Compound Annual Growth Rate (CAGR)

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