Somnigroup International (NYSE:SGI) Shares Break Below Fifty Day Moving Average on Analyst Downgrade

Somnigroup International Inc. (NYSE:SGI)’s share price crossed below its 50 day moving average during trading on Friday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock has a 50 day moving average of $64.44 and traded as low as $63.98. Somnigroup International shares last traded at $64.1790, with a volume of 7,195,013 shares traded.

Other analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Somnigroup International from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Morgan Stanley initiated coverage on shares of Somnigroup International in a research note on Monday, July 27th. They issued an “overweight” rating and a $95.00 target price for the company. UBS Group boosted their price target on Somnigroup International from $94.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Stephens raised Somnigroup International from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $66.00 to $80.00 in a research note on Monday, September 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Somnigroup International in a report on Friday, August 21st. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Insider Activity at Somnigroup International

In related news, CEO Scott Thompson acquired 30,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were acquired at an average cost of $62.84 per share, for a total transaction of $1,885,200.00. Following the acquisition, the chief executive officer directly owned 4,123,634 shares in the company, valued at approximately $259,129,160.56. The trade was a 0.73% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Somnigroup International

Several institutional investors and hedge funds have recently bought and sold shares of SGI. Mather Group LLC. boosted its holdings in shares of Somnigroup International by 168.8% in the 3rd quarter. Mather Group LLC. now owns 414 shares of the company’s stock valued at $26,000 after purchasing an additional 260 shares during the last quarter. Salomon & Ludwin LLC raised its position in shares of Somnigroup International by 772.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 436 shares of the company’s stock worth $27,000 after buying an additional 386 shares during the period. SBI Securities Co. Ltd. boosted its holdings in Somnigroup International by 11,900.0% in the third quarter. SBI Securities Co. Ltd. now owns 480 shares of the company’s stock valued at $30,000 after acquiring an additional 476 shares during the last quarter. Signature Equity Partners LLC boosted its holdings in Somnigroup International by 173.1% in the third quarter. Signature Equity Partners LLC now owns 478 shares of the company’s stock valued at $30,000 after acquiring an additional 303 shares during the last quarter. Finally, Allworth Financial LP purchased a new stake in Somnigroup International during the second quarter valued at about $31,000. Institutional investors and hedge funds own 99.86% of the company’s stock.

Somnigroup International Stock Performance

The stock has a market cap of $13.50 billion, a PE ratio of 25.67, a P/E/G ratio of 1.05 and a beta of 1.30. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.75 and a quick ratio of 0.37. The stock has a 50-day simple moving average of $64.44 and a 200-day simple moving average of $73.22.

Somnigroup International (NYSE:SGI) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. The company had revenue of $1.82 billion for the quarter. Somnigroup International had a return on equity of 19.32% and a net margin of 7.00%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. Equities analysts predict that Somnigroup International Inc. will post 3.10 earnings per share for the current fiscal year.

About Somnigroup International

Somnigroup International, Inc is a bedding company that designs, manufactures, distributes and sells mattresses and related sleep products. Its offerings include adjustable bases, pillows and other bedding accessories, marketed under brands such as Tempur-Pedic, Sealy and Stearns & Foster.

The company also operates Mattress Firm, a mattress retailer with stores across the United States. Through its brands, retail business and other sales channels, Somnigroup serves customers in the U.S.