Somnigroup International (NYSE:SGI) Stock Moved Down to “Hold” by Zacks Research

Zacks Research cut shares of Somnigroup International (NYSE:SGI) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks reports.

A number of other brokerages also recently weighed in on SGI. Truist Financial lowered their target price on shares of Somnigroup International from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Stephens upgraded Somnigroup International from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $66.00 to $80.00 in a research note on Monday, September 14th. Wall Street Zen raised Somnigroup International from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Somnigroup International in a research note on Friday, August 21st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $100.00 target price (up from $95.00) on shares of Somnigroup International in a report on Thursday, September 3rd. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Somnigroup International Trading Down 5.4%

Shares of SGI traded down $3.69 during trading hours on Thursday, hitting $64.18. 7,195,013 shares of the stock were exchanged, compared to its average volume of 2,527,498. Somnigroup International has a fifty-two week low of $60.08 and a fifty-two week high of $98.56. 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 firm has a market capitalization of $13.50 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 1.09 and a beta of 1.30. The business has a 50-day moving average of $64.44 and a 200-day moving average of $73.22.

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

Insider Activity at Somnigroup International

In related news, CEO Scott Thompson bought 30,000 shares of the stock in a transaction on Thursday, August 27th. The shares were bought at an average cost of $62.84 per share, for a total transaction of $1,885,200.00. Following the purchase, the chief executive officer owned 4,123,634 shares of the company’s stock, valued at $259,129,160.56. This trade represents a 0.73% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Somnigroup International

A number of hedge funds have recently made changes to their positions in SGI. BlackRock Inc. bought a new stake in Somnigroup International during the second quarter valued at $1,507,604,000. Linonia Partnership LP acquired a new position in Somnigroup International during the 2nd quarter worth $519,372,000. Allspring Global Investments Holdings LLC increased its position in Somnigroup International by 15.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,843,602 shares of the company’s stock worth $241,186,000 after acquiring an additional 517,542 shares during the period. Bank of America Corp DE bought a new stake in shares of Somnigroup International in the 2nd quarter worth approximately $204,632,000. Finally, Avala Global LP bought a new stake in Somnigroup International in the second quarter valued at about $107,831,000. Institutional investors and hedge funds own 99.86% of the company’s stock.

About Somnigroup International

Somnigroup International Inc (NYSE: SGI) is a global bedding and sleep-products company. Its portfolio includes mattresses, pillows, adjustable bases, foundations, bed frames and other sleep-related products sold through retail stores, e-commerce channels and furniture and specialty retailers.

The company’s principal brands include Tempur-Pedic, Sealy and Stearns & Foster. Somnigroup also operates Mattress Firm, a large specialty mattress retailer in the United States, providing consumers with access to a broad range of bedding products from its own brands and other manufacturers.

Somnigroup International was formerly known as Tempur Sealy International.