Bank of America Cuts Somnigroup International (NYSE:SGI) Price Target to $96.00

Somnigroup International (NYSE:SGI) had its price objective cut by Bank of America from $106.00 to $96.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Somnigroup International in a report on Monday, December 29th. Stephens started coverage on shares of Somnigroup International in a report on Tuesday, February 10th. They issued an “equal weight” rating and a $89.00 target price on the stock. Zacks Research lowered shares of Somnigroup International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Truist Financial boosted their target price on shares of Somnigroup International from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Jefferies Financial Group raised shares of Somnigroup International from a “hold” rating to a “buy” rating and decreased their price target for the company from $90.00 to $88.00 in a research note on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.60.

Somnigroup International Stock Down 1.5%

SGI stock opened at $79.32 on Tuesday. The firm has a market capitalization of $16.68 billion, a price-to-earnings ratio of 44.31, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The company has a current ratio of 0.83, a quick ratio of 0.42 and a debt-to-equity ratio of 1.47. Somnigroup International has a 12-month low of $56.15 and a 12-month high of $98.56. The firm has a fifty day moving average price of $81.99.

Somnigroup International (NYSE:SGI) last released its earnings results on Tuesday, February 17th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. The business had revenue of $1.87 billion for the quarter. Somnigroup International had a net margin of 5.14% and a return on equity of 19.36%. Somnigroup International’s quarterly revenue was up 54.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. Somnigroup International has set its FY 2026 guidance at 3.000-3.400 EPS.

Somnigroup International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, March 5th. Somnigroup International’s payout ratio is 37.99%.

Institutional Investors Weigh In On Somnigroup International

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC increased its position in shares of Somnigroup International by 88.1% during the first quarter. SG Americas Securities LLC now owns 158,259 shares of the company’s stock worth $11,699,000 after acquiring an additional 74,115 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Somnigroup International during the fourth quarter worth about $1,106,000. Rockefeller Capital Management L.P. increased its position in shares of Somnigroup International by 91.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,321 shares of the company’s stock worth $207,000 after acquiring an additional 1,109 shares in the last quarter. Corient Private Wealth LLC bought a new stake in shares of Somnigroup International during the fourth quarter worth about $434,000. Finally, SHP Wealth Management bought a new stake in shares of Somnigroup International during the fourth quarter worth about $52,000. 99.86% of the stock is owned by institutional investors.

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.