Somnigroup International (NYSE:SGI) Reaches New 12-Month High – Time to Buy?

Somnigroup International Inc. (NYSE:SGI)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $98.56 and last traded at $96.71, with a volume of 250927 shares changing hands. The stock had previously closed at $97.13.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Somnigroup International in a report on Monday, December 29th. Stephens initiated coverage on shares of Somnigroup International in a research note on Tuesday. They issued an “equal weight” rating and a $89.00 target price on the stock. Wall Street Zen raised shares of Somnigroup International from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Finally, Zacks Research cut Somnigroup International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $89.00.

Somnigroup International Stock Performance

The company has a market cap of $19.45 billion, a price-to-earnings ratio of 60.55, a PEG ratio of 1.53 and a beta of 1.31. The firm’s 50 day moving average price is $91.97. The company has a current ratio of 0.75, a quick ratio of 0.38 and a debt-to-equity ratio of 1.51.

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

Insider Buying and Selling

In related news, Director Simon Dyer acquired 32,000 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was acquired at an average cost of $93.40 per share, with a total value of $2,988,800.00. Following the completion of the transaction, the director owned 36,800 shares in the company, valued at $3,437,120. This represents a 666.67% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Somnigroup International

A number of institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Somnigroup International by 9.3% in the 4th quarter. Geode Capital Management LLC now owns 4,375,264 shares of the company’s stock valued at $390,699,000 after purchasing an additional 371,234 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Somnigroup International by 7.3% in the fourth quarter. JPMorgan Chase & Co. now owns 3,429,208 shares of the company’s stock valued at $306,160,000 after buying an additional 232,953 shares in the last quarter. Norges Bank acquired a new position in Somnigroup International during the fourth quarter worth $270,814,000. Allspring Global Investments Holdings LLC raised its stake in shares of Somnigroup International by 6.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,874,835 shares of the company’s stock worth $166,373,000 after buying an additional 121,244 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Somnigroup International by 1.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,258,002 shares of the company’s stock valued at $112,314,000 after purchasing an additional 16,104 shares in the last quarter. 99.86% of the stock is owned by institutional investors and hedge funds.

About Somnigroup International

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.