Summer Infant (SUMR) Upgraded to Hold at ValuEngine

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ValuEngine upgraded shares of Summer Infant (NASDAQ:SUMR) from a sell rating to a hold rating in a report published on Saturday.

Separately, Zacks Investment Research raised Summer Infant from a strong sell rating to a hold rating in a research report on Wednesday, April 25th.

Shares of SUMR stock opened at $1.90 on Friday. Summer Infant has a 52 week low of $0.72 and a 52 week high of $2.25. The firm has a market capitalization of $35.66 million, a P/E ratio of 27.14 and a beta of -0.40. The company has a quick ratio of 1.10, a current ratio of 1.88 and a debt-to-equity ratio of 3.73.

Summer Infant (NASDAQ:SUMR) last announced its quarterly earnings results on Wednesday, August 1st. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. Summer Infant had a positive return on equity of 4.13% and a negative net margin of 2.99%. The company had revenue of $47.68 million during the quarter, compared to analyst estimates of $43.11 million. sell-side analysts anticipate that Summer Infant will post 0.15 EPS for the current fiscal year.

In other news, major shareholder Wynnefield Partners Small Cap acquired 30,000 shares of the stock in a transaction on Thursday, May 31st. The stock was acquired at an average price of $1.22 per share, with a total value of $36,600.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired 52,000 shares of company stock valued at $60,800 in the last three months. Insiders own 3.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SUMR. Quantum Capital Management lifted its position in Summer Infant by 18.6% during the first quarter. Quantum Capital Management now owns 337,936 shares of the company’s stock valued at $389,000 after buying an additional 52,942 shares during the period. Renaissance Technologies LLC lifted its position in Summer Infant by 15.2% during the fourth quarter. Renaissance Technologies LLC now owns 340,800 shares of the company’s stock valued at $511,000 after buying an additional 45,000 shares during the period. Finally, Wynnefield Capital Inc. lifted its position in Summer Infant by 4.2% during the second quarter. Wynnefield Capital Inc. now owns 6,683,932 shares of the company’s stock valued at $9,291,000 after buying an additional 268,364 shares during the period. 51.18% of the stock is 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.

Further Reading: Stock Symbol

To view ValuEngine’s full report, visit ValuEngine’s official website.

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