Somnigroup International (NYSE:SGI) Downgraded by Zacks Research to Hold

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

Several other research firms also recently commented on SGI. Wall Street Zen raised Somnigroup International from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Somnigroup International in a research report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Somnigroup International has an average rating of “Hold”.

Somnigroup International Stock Down 1.9%

Shares of Somnigroup International stock opened at $89.03 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.38 and a current ratio of 0.75. Somnigroup International has a twelve month low of $53.10 and a twelve month high of $95.36. The stock has a market capitalization of $18.69 billion, a P/E ratio of 58.19, a P/E/G ratio of 1.42 and a beta of 1.32.

Somnigroup International (NYSE:SGI) last announced its earnings results on Thursday, November 6th. The company reported $0.95 EPS for the quarter. The business had revenue of $2.12 billion during the quarter. Somnigroup International had a return on equity of 22.73% and a net margin of 4.62%.

Insiders Place Their Bets

In related news, Director Simon Dyer bought 32,000 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was bought at an average cost of $93.40 per share, for a total transaction of $2,988,800.00. Following the acquisition, the director directly owned 36,800 shares in the company, valued at $3,437,120. This represents a 666.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP acquired a new stake in Somnigroup International during the third quarter worth about $32,000. Park Avenue Securities LLC grew its stake in shares of Somnigroup International by 6.8% in the 4th quarter. Park Avenue Securities LLC now owns 12,112 shares of the company’s stock valued at $1,081,000 after buying an additional 768 shares during the period. GAMMA Investing LLC increased its holdings in shares of Somnigroup International by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 8,191 shares of the company’s stock worth $731,000 after buying an additional 884 shares during the last quarter. Swiss Life Asset Management Ltd raised its position in shares of Somnigroup International by 85.1% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 9,065 shares of the company’s stock valued at $764,000 after buying an additional 4,168 shares during the period. Finally, New Mexico Educational Retirement Board acquired a new position in Somnigroup International in the third quarter valued at approximately $3,578,000. Institutional investors and hedge funds own 99.86% of the company’s stock.

Somnigroup International Company Profile

Somnigroup International Inc, together with its subsidiaries, designs, manufactures, distributes, and retails bedding products in the United States and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the Tempur-Pedic, Sealy, Stearns & Foster, Sealy, and Cocoon by Sealy brand names. The company sells its products through approximately company-owned stores, online, and call centers; and third party retailers, including third party distribution, hospitality, and healthcare.