What Next for Sleep Country Canada Holdings Inc After Today’s Gap Up?

 What Next for Sleep Country Canada Holdings Inc After Today's Gap Up?

The stock of Sleep Country Canada Holdings Inc (TSE:ZZZ) gapped up by $0.07 today and has $42.03 target or 44.00% above today’s $29.19 share price. The 9 months technical chart setup indicates low risk for the $1.08B company. The gap was reported on Nov, 2 by Barchart.com. If the $42.03 price target is reached, the company will be worth $475.20M 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%. The stock increased 4.10% or $1.15 on November 2, hitting $29.19. About 251,776 shares traded hands or 45.48% 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 21 analyst reports since August 20, 2015 according to StockzIntelligence Inc. Credit Suisse initiated Sleep Country Canada Holdings Inc (TSE:ZZZ) on Friday, August 21 with “Outperform” rating. TD Securities maintained the shares of ZZZ in a report on Tuesday, October 25 with “Buy” rating. Scotia Capital maintained Sleep Country Canada Holdings Inc (TSE:ZZZ) rating on Friday, September 4. Scotia Capital has “Outperform” rating and $18.50 price target. Scotia Capital maintained Sleep Country Canada Holdings Inc (TSE:ZZZ) rating on Wednesday, November 2. Scotia Capital has “Outperform” rating and $35 price target. The rating was initiated by BMO Capital Markets on Friday, August 21 with “Outperform”. On Friday, July 29 the stock rating was maintained by Scotia Capital with “Outperform”. TD Securities initiated it with “Buy” rating and $17 target price in Friday, August 21 report. The stock of Sleep Country Canada Holdings Inc (TSE:ZZZ) has “Buy” rating given on Wednesday, November 2 by TD Securities. The firm has “Outperform” rating by Scotia Capital given on Thursday, September 22. The rating was initiated by IBC on Thursday, August 20 with “Sector Outperformer”.

More important recent Sleep Country Canada Holdings Inc (TSE:ZZZ) news were published by: Theglobeandmail.com which released: “The Globe and Mail” on August 14, 2015, also Business.Financialpost.com published article titled: “Sleep Country Canada Holdings Inc slumps in trading debut after $300-million IPO”, Stockhouse.com 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: Business.Financialpost.com 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 $1.08 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 27.49 P/E ratio. The Firm operates through Canada segment.

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