Somnigroup International (NYSE:SGI) Stock Rating Cut to Hold at Zacks Research

Somnigroup International (NYSE:SGI) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday, Zacks reports.

Other research analysts have also issued reports about the company. Piper Sandler reissued an “overweight” rating and issued a $100.00 price objective (up from $95.00) on shares of Somnigroup International in a research report on Thursday, September 3rd. Truist Financial decreased their target price on Somnigroup International from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 7th. UBS Group lifted their target price on Somnigroup International from $94.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Somnigroup International in a research note on Friday, August 21st. Finally, Morgan Stanley assumed coverage on Somnigroup International in a report on Monday, July 27th. They set an “overweight” rating and a $95.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Somnigroup International Trading Down 5.4%

SGI stock traded down $3.69 during trading on Thursday, hitting $64.18. The company had a trading volume of 7,195,013 shares, compared to its average volume of 2,527,498. The business has a 50-day moving average of $64.44 and a 200-day moving average of $73.22. Somnigroup International has a one year low of $60.08 and a one year high of $98.56. The stock has a market cap of $13.50 billion, a PE ratio of 25.67, a PEG ratio of 1.09 and a beta of 1.30. The company has a current ratio of 0.75, a quick ratio of 0.37 and a debt-to-equity ratio of 1.33.

Somnigroup International (NYSE:SGI) last released its earnings results on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.58. Somnigroup International had a net margin of 7.00% and a return on equity of 19.32%. The business had revenue of $1.82 billion for the quarter. During the same quarter in the previous year, the firm earned $0.53 EPS. Somnigroup International’s quarterly revenue was down 3.0% on a year-over-year basis. Research analysts predict that Somnigroup International will post 3.10 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Somnigroup International news, CEO Scott Thompson purchased 30,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was acquired at an average price 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.99% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Somnigroup International in the second quarter valued at $1,507,604,000. Linonia Partnership LP bought a new stake in shares of Somnigroup International during the second quarter worth about $519,372,000. Bank of America Corp DE acquired a new stake in shares of Somnigroup International in the 2nd quarter worth about $204,632,000. Avala Global LP acquired a new stake in shares of Somnigroup International in the 2nd quarter worth about $107,831,000. Finally, Bank of New York Mellon Corp bought a new position in Somnigroup International in the 2nd quarter valued at about $106,681,000. 99.86% of the stock is owned by institutional investors.

Somnigroup International Company Profile

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.