Sleep Country Canada Hldg (ZZZ) was Upgraded to a Buy Rating at Scotiabank

By Austin Angelo

In a latest note to investors, a research analyst has provided a rating update for the Sleep Country Canada Hldg (ZZZResearch Report). Patricia Baker, an analyst with Scotiabank, has upgraded their rating on ZZZ to Buy yesterday , with a C$26.50 price target.

According to TipRanks.com, Baker is a 4-star analyst with an average return of 3.7% and a 53.7% success rate. Baker covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, Loblaw Companies Limited, and Kroger Company.

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Currently, the analyst consensus on Sleep Country Canada Hldg is a Moderate Buy with an average price target of C$28.69.

Based on Sleep Country Canada Hldg’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$23.73 million. In comparison, last year the company had a net profit of C$22.81 million.

Sleep Country Canada Holdings, Inc. engages in the retail of mattress. It operates through Sleep Country Canada, and Dormez-vous banners. Its products inlude mattresses, adjustable lifestyle bases, pillows, duvets, sheets, headboards, frames, mattress protectors, and pillow protectors.

The company’s shares closed on Friday at C$22.07, close to its 52-week low of C$19.85.