Sleep Country Canada (TSE:ZZZ) Hits New 52-Week High on Analyst Upgrade

Sleep Country Canada Holdings Inc. (TSE:ZZZ) hit a new 52-week high on Wednesday after Royal Bank of Canada raised their price target on the stock from C$30.00 to C$35.00. Royal Bank of Canada currently has a sector perform rating on the stock. Sleep Country Canada traded as high as C$34.98 and last traded at C$35.00, with a volume of 350258 shares. The stock had previously closed at C$34.81.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets dropped their price target on shares of Sleep Country Canada from C$35.00 to C$32.00 in a research note on Thursday, May 9th. CIBC dropped their price target on shares of Sleep Country Canada from C$32.00 to C$28.00 in a research note on Thursday, May 9th. National Bankshares downgraded shares of Sleep Country Canada from a “sector perform” rating to a “tender” rating and set a C$35.00 price target for the company. in a research note on Tuesday. Stifel Nicolaus downgraded shares of Sleep Country Canada from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$31.00 to C$35.00 in a research note on Tuesday. Finally, TD Securities cut shares of Sleep Country Canada from a “buy” rating to a “sell” rating and boosted their price objective for the company from C$33.00 to C$35.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$33.79.

Sleep Country Canada Price Performance

The company has a market cap of C$1.18 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 0.39 and a beta of 1.61. The company has a quick ratio of 0.35, a current ratio of 0.98 and a debt-to-equity ratio of 113.24. The company’s fifty day moving average price is C$26.55 and its two-hundred day moving average price is C$27.24.

Sleep Country Canada (TSE:ZZZ) last announced its earnings results on Tuesday, May 7th. The company reported C$0.28 EPS for the quarter, missing the consensus estimate of C$0.34 by C($0.06). Sleep Country Canada had a return on equity of 15.69% and a net margin of 7.31%. The business had revenue of C$209.72 million for the quarter, compared to analyst estimates of C$213.75 million. On average, equities research analysts forecast that Sleep Country Canada Holdings Inc. will post 2.0810167 EPS for the current fiscal year.

Sleep Country Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 30th were issued a dividend of $0.237 per share. This represents a $0.95 annualized dividend and a yield of 2.71%. The ex-dividend date was Wednesday, May 22nd. Sleep Country Canada’s payout ratio is 47.98%.

Sleep Country Canada Company Profile

Sleep Country Canada Holdings Inc retails mattress, bedding, and specialty sleep products in Canada. It offers sheets, pillows, mattresses, sleep wear, and various sleep accessories, as well as bed frames. The company also provides pillowcases, weighted blankets, mattress protectors, mattress toppers, full and platform beds, pet beds, lifestyle adjustable bases, duvets and duvet covers, pillow protectors, sleep and lounge wear, headboards, and bed frames.