Gilford Securities Reiterates Buy Rating on Summer Infant (SUMR)
Gilford Securities is out with a research report this afternoon, where it reiterates its Buy rating on Summer Infant Inc. (NASDAQ: SUMR); it has a $16.00 price target on the stock.
The GS analysts cited the company's recent earnings results, where sales increased by 32.5% to $58.5 million. GPM declined by 470bp to 33.7%, due to material price pressure and new, lower margin crib sales.
EPS was $0.11, flat year over year.
As for valuation, the analysts remarked, “SUMR shares at $16 represent a P/E multiple of 20x our 2012E EPS of $0.80, which represents Y/Y growth of 26%.”
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