Summer Infant (SUMR) Rating Lowered to Hold at Zacks Investment Research

Summer Infant (NASDAQ:SUMR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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 cut Summer Infant from a “hold” rating to a “sell” rating in a report on Friday, September 28th.

NASDAQ SUMR traded down $0.02 on Friday, hitting $1.32. The company’s stock had a trading volume of 25,107 shares, compared to its average volume of 48,346. Summer Infant has a 52-week low of $0.72 and a 52-week high of $1.98. The company has a current ratio of 1.98, a quick ratio of 1.10 and a debt-to-equity ratio of 3.83.

Summer Infant (NASDAQ:SUMR) last released its quarterly earnings data on Thursday, November 1st. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.06). Summer Infant had a negative return on equity of 0.69% and a negative net margin of 2.22%. The business had revenue of $43.84 million during the quarter, compared to analysts’ expectations of $47.71 million. On average, sell-side analysts expect that Summer Infant will post 0.15 earnings per share for the current year.

A hedge fund recently raised its stake in Summer Infant stock. Wynnefield Capital Inc. grew its holdings in Summer Infant, Inc. (NASDAQ:SUMR) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,683,932 shares of the company’s stock after buying an additional 268,364 shares during the quarter. Summer Infant makes up about 3.4% of Wynnefield Capital Inc.’s investment portfolio, making the stock its 12th largest holding. Wynnefield Capital Inc. owned approximately 35.61% of Summer Infant worth $9,291,000 as of its most recent SEC filing. 45.70% 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.

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