Sleep Country Canada (ZZZ) Downgraded by CIBC to Neutral

Sleep Country Canada (TSE:ZZZ) was downgraded by research analysts at CIBC from an “outperform” rating to a “neutral” rating in a research note issued to investors on Monday. They presently have a C$25.00 target price on the stock, down from their previous target price of C$34.00. CIBC’s price target would suggest a potential upside of 6.88% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. National Bank Financial decreased their price objective on shares of Sleep Country Canada from C$39.00 to C$37.00 and set an “outperform” rating for the company in a research report on Monday, July 30th. Royal Bank of Canada dropped their price objective on shares of Sleep Country Canada from C$46.00 to C$43.00 and set an “outperform” rating for the company in a research note on Tuesday, August 7th. TD Securities dropped their price objective on shares of Sleep Country Canada from C$40.00 to C$36.00 and set a “hold” rating for the company in a research note on Tuesday, August 7th. BMO Capital Markets dropped their target price on shares of Sleep Country Canada from C$42.00 to C$39.00 and set an “outperform” rating for the company in a research report on Tuesday, August 7th. Finally, Raymond James decreased their price target on shares of Sleep Country Canada from C$39.00 to C$35.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Sleep Country Canada has an average rating of “Buy” and a consensus price target of C$32.50.

Shares of ZZZ traded down C$0.45 during mid-day trading on Monday, reaching C$23.39. 243,821 shares of the company’s stock traded hands, compared to its average volume of 123,508. Sleep Country Canada has a 12 month low of C$19.85 and a 12 month high of C$37.24.

Sleep Country Canada (TSE:ZZZ) last posted its quarterly earnings results on Thursday, August 2nd. The company reported C$0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.33 by C$0.03. The company had revenue of C$143.69 million during the quarter, compared to the consensus estimate of C$144.39 million.

In other news, insider Dave Howcroft sold 2,608 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of C$31.50, for a total value of C$82,152.00.

About Sleep Country Canada

Sleep Country Canada Holdings Inc engages in retailing mattress and bedding related products. The company offers a range of mattresses, adjustable lifestyle bases, pillows, duvets, sheets, headboards, frames, mattress protectors, pillow protectors, and other sleep accessories. The company operates under the Dormez-vous and Sleep Country Canada retail banners.

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Analyst Recommendations for Sleep Country Canada (TSE:ZZZ)

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