Sleep Number (SNBR) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Sleep Number (NASDAQ:SNBR) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

Several other brokerages have also commented on SNBR. Stifel Nicolaus reissued a buy rating and issued a $47.00 price objective (up from $40.00) on shares of Sleep Number in a report on Friday, February 16th. Raymond James lowered Sleep Number from an outperform rating to a market perform rating in a report on Thursday, April 19th. Zacks Investment Research lowered Sleep Number from a buy rating to a hold rating in a report on Thursday, February 22nd. SunTrust Banks reissued a hold rating and issued a $32.00 price objective on shares of Sleep Number in a report on Friday, April 20th. Finally, ValuEngine lowered Sleep Number from a buy rating to a hold rating in a report on Thursday, April 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Sleep Number has an average rating of Hold and a consensus target price of $33.86.

Sleep Number opened at $29.79 on Wednesday, MarketBeat reports. The stock has a market cap of $1.10 billion, a P/E ratio of 19.99, a P/E/G ratio of 0.89 and a beta of 0.82. Sleep Number has a 52 week low of $27.44 and a 52 week high of $40.72.



Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings data on Wednesday, April 18th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.04). Sleep Number had a net margin of 4.25% and a return on equity of 74.14%. The business had revenue of $389.00 million during the quarter, compared to analyst estimates of $396.68 million. During the same period in the previous year, the business posted $0.56 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. analysts predict that Sleep Number will post 1.81 EPS for the current year.

In other news, SVP Mark A. Kimball sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $35.12, for a total value of $280,960.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brenda J. Lauderback sold 974 shares of the firm’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $28.50, for a total value of $27,759.00. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNBR. Schwab Charles Investment Management Inc. purchased a new position in shares of Sleep Number in the fourth quarter valued at approximately $13,181,000. Texas Permanent School Fund purchased a new position in shares of Sleep Number in the fourth quarter valued at approximately $1,012,000. SG Americas Securities LLC purchased a new position in shares of Sleep Number in the fourth quarter valued at approximately $1,141,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Sleep Number in the fourth quarter valued at approximately $114,000. Finally, Comerica Bank purchased a new position in shares of Sleep Number in the fourth quarter valued at approximately $1,633,000.

About Sleep Number

Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, retails, and services beds, bases, and bedding accessories under the Sleep Number name. The company also offers adjustable bases under the FlextFit name; and pillows and sheets, as well as other bedding products, including mattresses, box springs, and foundations under the Sleep Number name.

Analyst Recommendations for Sleep Number (NASDAQ:SNBR)

Receive News & Ratings for Sleep Number Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sleep Number and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply