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 report released on Tuesday morning.

Separately, Zacks Investment Research lowered shares of Summer Infant from a buy rating to a hold rating in a report on Friday, November 2nd.

Shares of Summer Infant stock traded down $0.06 on Tuesday, hitting $1.06. 154,681 shares of the company traded hands, compared to its average volume of 52,007. The company has a debt-to-equity ratio of 3.83, a quick ratio of 1.17 and a current ratio of 1.98. The stock has a market cap of $21.80 million, a P/E ratio of 15.14 and a beta of 0.18. Summer Infant has a 12-month low of $0.72 and a 12-month high of $1.98.

Summer Infant (NASDAQ:SUMR) last posted its quarterly earnings data on Thursday, November 1st. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.06). The company had revenue of $43.84 million for the quarter, compared to analysts’ expectations 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 position in Summer Infant, Inc. (NASDAQ:SUMR) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,683,932 shares of the company’s stock after acquiring an additional 268,364 shares during the period. Summer Infant accounts for 3.4% of Wynnefield Capital Inc.’s investment portfolio, making the stock its 12th biggest position. Wynnefield Capital Inc. owned approximately 35.61% of Summer Infant worth $9,291,000 at the end of the most recent reporting period. Institutional investors own 45.70% of the company’s stock.

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.

Read More: Return on Investment (ROI) Defined, Explained

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