Somnigroup International (NYSE:SGI) Posts Earnings Results

Somnigroup International (NYSE:SGI) issued its earnings results on Monday. The company reported $1.04 earnings per share (EPS) for the quarter, FiscalAI reports. Somnigroup International had a net margin of 7.00% and a return on equity of 19.32%. The business had revenue of $2.35 billion for the quarter.

Somnigroup International Stock Up 0.0%

Shares of Somnigroup International stock opened at $64.18 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.75 and a quick ratio of 0.37. Somnigroup International has a 1-year low of $60.08 and a 1-year high of $98.56. The business’s fifty day moving average price is $64.44 and its two-hundred day moving average price is $73.22. The company has a market capitalization of $13.50 billion, a P/E ratio of 25.67, a PEG ratio of 1.05 and a beta of 1.30.

Insider Activity at Somnigroup International

In other Somnigroup International news, CEO Scott Thompson purchased 30,000 shares of the stock in a transaction dated Thursday, August 27th. The shares were bought at an average cost of $62.84 per share, with a total value of $1,885,200.00. Following the completion of the acquisition, the chief executive officer owned 4,123,634 shares of the company’s stock, valued at approximately $259,129,160.56. This trade represents a 0.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.99% of the company’s stock.

Institutional Investors Weigh In On Somnigroup International

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE acquired a new stake in shares of Somnigroup International during the second quarter worth $204,632,000. Two Sigma Securities LLC acquired a new position in shares of Somnigroup International in the 2nd quarter valued at $1,379,000. Tidal Investments LLC boosted its position in shares of Somnigroup International by 49.4% in the 2nd quarter. Tidal Investments LLC now owns 184,212 shares of the company’s stock valued at $14,442,000 after purchasing an additional 60,942 shares during the period. Polar Asset Management Partners Inc. purchased a new position in Somnigroup International in the 2nd quarter worth about $2,305,000. Finally, Quantinno Capital Management LP increased its stake in Somnigroup International by 27.9% in the 1st quarter. Quantinno Capital Management LP now owns 154,491 shares of the company’s stock worth $11,420,000 after purchasing an additional 33,729 shares in the last quarter. Institutional investors and hedge funds own 99.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. UBS Group raised their target price on shares of Somnigroup International from $94.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Wall Street Zen raised shares of Somnigroup International from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. Morgan Stanley assumed coverage on shares of Somnigroup International in a research report on Monday, July 27th. They issued an “overweight” rating and a $95.00 price objective on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Somnigroup International in a research note on Friday, August 21st. Finally, Truist Financial decreased their target price on shares of Somnigroup International from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Somnigroup International presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

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.