Bank of America Downgrades Mattress Firm Holding Corp to Underperform with Price Target $28.00

Brokerage firm Bank of America Downgrades its rating on Mattress Firm Holding Corp(NASDAQ:MFRM). In a research note issued to the investors, the brokerage major Lowers the price-target to $28.00 per share. The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Bank of America was issued on Jun 10, 2016.

In a different note, On Mar 23, 2016, Citigroup said it Maintains its rating on Mattress Firm Holding Corp. In the research note, the firm Raises the price-target to $38.00 per share. The shares have been rated ‘Neutral’ by the firm. On Mar 22, 2016, SunTrust Robinson Humphrey said it Downgrades its rating on Mattress Firm Holding Corp. The shares have been rated ‘Neutral’ by the firm. Longbow Research said it Initiates Coverage on Mattress Firm Holding Corp, according to a research note issued on Mar 15, 2016. The shares have been rated ‘Neutral’ by the firm.

Mattress Firm Holding Corp (MFRM) made into the market gainers list on Wednesdays trading session with the shares advancing 0.94% or 0.29 points. Due to strong positive momentum, the stock ended at $31.3, which is also near the day’s high of $31.43. The stock began the session at $30.08 and the volume stood at 6,59,429 shares. The 52-week high of the shares is $65.51 and the 52 week low is $27.18. The company has a current market capitalization of $1,165 M and it has 3,72,14,651 shares in outstanding.

Mattress Firm Holding Corp(MFRM) last announced its earnings results on Jun 9, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $839.39M. Analysts had an estimated revenue of $869.75M. Earnings per share were $-0.10. Analysts had estimated an EPS of $-0.03.

Several Insider Transactions has been reported to the SEC. On May 3, 2016, R. Stephen Stagner (Executive Chairman) sold 400 shares at $39.74 per share price.Also, On Apr 19, 2016, Craig Mcandrews (Chief Merchandising Officer) sold 2,500 shares at $43.90 per share price.On Apr 5, 2016, Bruce Levy (Executive Vice President) sold 30,458 shares at $42.36 per share price, according to the Form-4 filing with the securities and exchange commission.

Mattress Firm Holding Corp. is a holding company. The Company through its direct and indirect subsidiaries is a retailer of mattresses and bedding-related products in various metropolitan markets in the United States through company-operated and franchise-owned mattress specialty stores that operate primarily under the name Mattress Firm. The Company operates through two reportable segments: retail operations and franchise operations. The Company-operated stores its e-commerce Website operations and multi-channel sales operations consisting primarily of special events comprise the Company’s retail operations segment. For its franchise operations segment franchise fees and royalty income received from its franchisees fully represent results of operations.

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