Summer Infant (SUMR) Upgraded to Hold by Zacks Investment Research

Summer Infant (NASDAQ:SUMR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

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 raised shares of Summer Infant from a “sell” rating to a “hold” rating in a report on Saturday, January 5th.

SUMR opened at $0.70 on Thursday. Summer Infant has a 1-year low of $0.66 and a 1-year high of $1.98. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.82 and a quick ratio of 0.87. The company has a market capitalization of $13.17 million, a price-to-earnings ratio of -23.33 and a beta of 0.36.

Summer Infant (NASDAQ:SUMR) last released its earnings results on Thursday, February 21st. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Summer Infant had a negative return on equity of 4.00% and a negative net margin of 2.45%. The company had revenue of $40.05 million during the quarter, compared to analysts’ expectations of $47.17 million. Equities research analysts anticipate that Summer Infant will post -0.05 earnings per share for the current fiscal year.

In related news, major shareholder Wynnefield Partners Small Cap bought 31,703 shares of the stock in a transaction dated Wednesday, February 27th. The shares were purchased at an average price of $0.81 per share, with a total value of $25,679.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 71,246 shares of company stock worth $55,566 in the last three months. Insiders own 4.00% of the company’s stock.

An institutional investor recently raised its position in Summer Infant stock. Wynnefield Capital Inc. boosted its holdings in shares of Summer Infant, Inc. (NASDAQ:SUMR) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,749,086 shares of the company’s stock after purchasing an additional 65,154 shares during the quarter. Summer Infant comprises about 3.8% of Wynnefield Capital Inc.’s investment portfolio, making the stock its 11th largest position. Wynnefield Capital Inc. owned about 35.91% of Summer Infant worth $7,397,000 at the end of the most recent quarter. 46.73% of the stock is owned by hedge funds and other institutional investors.

Summer Infant Company Profile

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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