Somnigroup International (NYSE:SGI) Reaches New 1-Year High – Still a Buy?
by Kim Johansen · The Markets DailySomnigroup International Inc. (NYSE:SGI – Get Free Report) shares hit a new 52-week high 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.
Wall Street Analysts Forecast Growth
SGI has been the topic of several recent analyst reports. Wall Street Zen raised Somnigroup International from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Zacks Research cut Somnigroup International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Somnigroup International in a research note on Monday, December 29th. Finally, Stephens assumed coverage on shares of Somnigroup International in a report on Tuesday. They issued an “equal weight” rating and a $89.00 price target on the stock. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.00.
Check Out Our Latest Report on Somnigroup International
Somnigroup International Price Performance
The stock’s 50-day simple moving average is $91.97. The company has a market cap of $19.45 billion, a P/E ratio of 60.55, a PEG ratio of 1.53 and a beta of 1.31. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.75 and a quick ratio of 0.38.
Somnigroup International (NYSE:SGI – Get Free Report) last issued its earnings results on Thursday, November 6th. The company reported $0.95 earnings per share (EPS) for the quarter. The company had revenue of $2.12 billion for the quarter. Somnigroup International had a return on equity of 22.73% and a net margin of 4.62%.
Insider Activity
In related news, Director Simon Dyer bought 32,000 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were purchased at an average price of $93.40 per share, with a total value of $2,988,800.00. Following the transaction, the director owned 36,800 shares in the company, valued at $3,437,120. This trade represents a 666.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.96% of the stock is owned by insiders.
Institutional Investors Weigh In On Somnigroup International
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Somnigroup International by 9.3% during the 4th quarter. Geode Capital Management LLC now owns 4,375,264 shares of the company’s stock worth $390,699,000 after purchasing an additional 371,234 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Somnigroup International by 7.3% during 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 during the period. Norges Bank bought a new position in shares of Somnigroup International during the fourth quarter valued at approximately $270,814,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Somnigroup International by 6.9% in the fourth 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 period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Somnigroup International by 1.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,258,002 shares of the company’s stock worth $112,314,000 after acquiring an additional 16,104 shares during the last quarter. Hedge funds and other institutional investors own 99.86% of the company’s stock.
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.