After Today’s Gap Up, Is Sleep Country Canada Holdings Inc’s Near-Term Analysis Positive

 After Today's Gap Up, Is Sleep Country Canada Holdings Inc's Near Term Analysis Positive

The stock of Sleep Country Canada Holdings Inc (TSE:ZZZ) gapped up by $0.08 today and has $41.23 target or 40.00% above today’s $29.45 share price. The 6 months technical chart setup indicates low risk for the $1.09B company. The gap was reported on Nov, 2 by If the $41.23 price target is reached, the company will be worth $436.00 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 212,845 shares traded hands or 22.99% up from the average. Sleep Country Canada Holdings Inc (TSE:ZZZ) has risen 49.07% since March 29, 2016 and is uptrending. It has outperformed by 46.55% the S&P500.

Sleep Country Canada Holdings Inc (TSE:ZZZ) Ratings Coverage

Out of 5 analysts covering Sleep Country Canada (TSE:ZZZ), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Sleep Country Canada has been the topic of 19 analyst reports since August 20, 2015 according to StockzIntelligence Inc. Raymond James initiated it with “Market Perform” rating and $16 target price in Thursday, August 20 report. Scotia Capital maintained the shares of ZZZ in a report on Friday, July 29 with “Outperform” rating. The rating was initiated by Credit Suisse with “Outperform” on Friday, August 21. The firm has “Buy” rating by TD Securities given on Tuesday, October 25. The stock has “Sector Outperformer” rating given by IBC on Thursday, August 20. TD Securities initiated it with “Buy” rating and $17 target price in Friday, August 21 report. On Friday, August 21 the stock rating was initiated by BMO Capital Markets with “Outperform”. As per Friday, September 4, the company rating was maintained by Scotia Capital. Scotia Capital initiated the shares of ZZZ in a report on Thursday, August 20 with “Sector Outperform” rating. Scotia Capital maintained Sleep Country Canada Holdings Inc (TSE:ZZZ) on Thursday, September 22 with “Outperform” rating.

More important recent Sleep Country Canada Holdings Inc (TSE:ZZZ) news were published by: which released: “The Globe and Mail” on August 14, 2015, also published article titled: “Sleep Country Canada Holdings Inc slumps in trading debut after $300-million IPO”, published: “Sleep Country Canada Holdings Inc. announces third quarter 2016 earnings …” on October 26, 2016. More interesting news about Sleep Country Canada Holdings Inc (TSE:ZZZ) was released by: and their article: “Sleep Country Canada Holdings Inc said to boost IPO 50% to $300 million” with publication date: July 09, 2015.

Sleep Country Canada Holdings Inc. is a Canada mattress retailer. The company has a market cap of $1.09 billion. The Firm operates under two mattress retail banners: Dormez-vous?, the retailer of mattresses in Quebec, and Sleep Country Canada, the mattress retailer in the rest of Canada. It has a 27.74 P/E ratio. The Firm operates through Canada segment.

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