Summer Infant (SUMR) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Summer Infant (NASDAQ:SUMR) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

Separately, Zacks Investment Research raised shares of Summer Infant from a hold rating to a buy rating and set a $1.50 target price on the stock in a research note on Wednesday, October 10th.

Shares of SUMR traded down $0.06 during trading hours on Tuesday, reaching $1.06. 154,681 shares of the company traded hands, compared to its average volume of 52,007. The firm has a market capitalization of $21.80 million, a price-to-earnings ratio of 15.14 and a beta of 0.18. The company has a current ratio of 1.98, a quick ratio of 1.17 and a debt-to-equity ratio of 3.83. Summer Infant has a 12 month low of $0.72 and a 12 month high of $1.98.

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

A hedge fund recently raised its stake in Summer Infant stock. Wynnefield Capital Inc. boosted its holdings in shares of Summer Infant, Inc. (NASDAQ:SUMR) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,683,932 shares of the company’s stock after acquiring an additional 268,364 shares during the period. Summer Infant accounts for about 3.4% of Wynnefield Capital Inc.’s investment portfolio, making the stock its 12th largest holding. Wynnefield Capital Inc. owned about 35.61% of Summer Infant worth $9,291,000 as of its most recent SEC filing. Institutional investors own 45.70% of the company’s stock.

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

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