Zacks Investment Research Lowers Summer Infant, Inc. (SUMR) to Hold

Summer Infant, Inc. (NASDAQ:SUMR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, July 25th.

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. “

A number of other equities analysts also recently weighed in on SUMR. ValuEngine downgraded Summer Infant from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. FBR & Co reiterated an “outperform” rating and issued a $2.50 price objective on shares of Summer Infant in a research note on Tuesday, July 11th.

Shares of Summer Infant (NASDAQ:SUMR) opened at 1.83 on Tuesday. The stock has a 50 day moving average price of $1.76 and a 200-day moving average price of $1.84. Summer Infant has a 52-week low of $1.65 and a 52-week high of $2.44. The firm’s market capitalization is $34.02 million.

Summer Infant (NASDAQ:SUMR) last announced its earnings results on Wednesday, August 2nd. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Summer Infant had a positive return on equity of 0.56% and a negative net margin of 1.82%. The firm had revenue of $52.58 million for the quarter, compared to the consensus estimate of $46.33 million. Equities analysts forecast that Summer Infant will post $0.11 EPS for the current year.

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In other Summer Infant news, major shareholder Wynnefield Partners Small Cap bought 425,774 shares of the stock in a transaction on Tuesday, May 23rd. The shares were acquired at an average price of $1.75 per share, with a total value of $745,104.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephen Zelkowicz bought 15,500 shares of the stock in a transaction on Friday, May 12th. The shares were acquired at an average cost of $1.70 per share, for a total transaction of $26,350.00. Following the acquisition, the director now directly owns 33,064 shares in the company, valued at $56,208.80. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 626,274 shares of company stock worth $1,100,755. 8.40% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in shares of Summer Infant by 1.1% in the fourth quarter. Renaissance Technologies LLC now owns 210,800 shares of the company’s stock worth $422,000 after buying an additional 2,300 shares during the last quarter. Tiemann Investment Advisors LLC acquired a new stake in shares of Summer Infant during the first quarter worth about $331,000. Finally, Wynnefield Capital Inc. boosted its stake in shares of Summer Infant by 1.9% in the first quarter. Wynnefield Capital Inc. now owns 5,789,794 shares of the company’s stock worth $11,000,000 after buying an additional 110,000 shares during the last quarter. 50.06% of the stock is currently owned by institutional investors and hedge funds.

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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