Brokerages Set $1.50 Price Target for Summer Infant, Inc. (SUMR)

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Shares of Summer Infant, Inc. (NASDAQ:SUMR) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokers have set a twelve-month consensus price target of $1.50 for the company and are expecting that the company will post ($0.01) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Summer Infant an industry rank of 233 out of 257 based on the ratings given to its competitors.

SUMR has been the subject of several analyst reports. Zacks Investment Research upgraded Summer Infant from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a report on Wednesday, October 10th. ValuEngine raised Summer Infant from a “sell” rating to a “hold” rating in a research report on Tuesday, November 6th.

NASDAQ SUMR traded down $0.03 on Wednesday, reaching $0.87. 3,371 shares of the company’s stock traded hands, compared to its average volume of 56,928. The stock has a market capitalization of $17.27 million, a P/E ratio of 12.43 and a beta of 0.24. Summer Infant has a 12 month low of $0.72 and a 12 month high of $1.98. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.98 and a quick ratio of 1.17.

Summer Infant (NASDAQ:SUMR) last announced its quarterly earnings results on Thursday, November 1st. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The business had revenue of $43.84 million during the quarter, compared to analysts’ expectations of $47.71 million. Summer Infant had a negative return on equity of 0.69% and a negative net margin of 2.22%.

In related news, major shareholder Wynnefield Partners Small Cap bought 30,000 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were purchased at an average price of $1.01 per share, with a total value of $30,300.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders acquired 92,603 shares of company stock worth $91,017. Corporate insiders own 3.00% of the company’s stock.

A hedge fund recently raised its stake in Summer Infant stock. Wynnefield Capital Inc. increased its stake in shares of Summer Infant, Inc. (NASDAQ:SUMR) by 4.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,683,932 shares of the company’s stock after purchasing an additional 268,364 shares during the quarter. Summer Infant makes up 3.4% of Wynnefield Capital Inc.’s holdings, 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 filing with the Securities and Exchange Commission (SEC). 47.04% of the stock is currently owned by institutional investors and hedge funds.

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.

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