Sleep Number (NASDAQ:SNBR) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday, September 11th.
Several other brokerages have also recently issued reports on SNBR. BidaskClub upgraded Sleep Number from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 24th. Stifel Nicolaus dropped their target price on Sleep Number from $47.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, July 26th. Piper Jaffray Companies lowered Sleep Number from an “overweight” rating to a “neutral” rating in a report on Thursday, July 26th. Zacks Investment Research raised Sleep Number from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Finally, TheStreet lowered Sleep Number from a “b-” rating to a “c” rating in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $35.80.
Shares of NASDAQ SNBR traded down $0.23 during mid-day trading on Tuesday, hitting $35.93. The company had a trading volume of 550,043 shares, compared to its average volume of 621,112. The stock has a market cap of $1.28 billion, a P/E ratio of 24.11, a PEG ratio of 1.10 and a beta of 1.15. Sleep Number has a 1-year low of $26.22 and a 1-year high of $40.72.
Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Wednesday, July 25th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $316.34 million for the quarter, compared to analysts’ expectations of $314.81 million. Sleep Number had a return on equity of 115.80% and a net margin of 4.47%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.02) earnings per share. As a group, sell-side analysts expect that Sleep Number will post 1.81 earnings per share for the current fiscal year.
In other news, CFO David R. Callen acquired 1,000 shares of the company’s stock in a transaction on Monday, July 30th. The shares were bought at an average price of $27.88 per share, with a total value of $27,880.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shelly Radue Ibach sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $38.00, for a total value of $380,000.00. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
Several hedge funds have recently modified their holdings of SNBR. Vulcan Value Partners LLC grew its holdings in shares of Sleep Number by 56.6% during the second quarter. Vulcan Value Partners LLC now owns 4,974,464 shares of the company’s stock worth $144,359,000 after purchasing an additional 1,797,074 shares during the last quarter. Old Mutual Global Investors UK Ltd. grew its holdings in shares of Sleep Number by 91.5% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 1,066,142 shares of the company’s stock worth $37,474,000 after purchasing an additional 509,298 shares during the last quarter. UBS Group AG grew its holdings in shares of Sleep Number by 4,288.8% during the first quarter. UBS Group AG now owns 311,035 shares of the company’s stock worth $10,933,000 after purchasing an additional 303,948 shares during the last quarter. River Road Asset Management LLC grew its holdings in shares of Sleep Number by 35.4% during the second quarter. River Road Asset Management LLC now owns 749,107 shares of the company’s stock worth $21,739,000 after purchasing an additional 195,713 shares during the last quarter. Finally, Spark Investment Management LLC purchased a new position in shares of Sleep Number during the first quarter worth about $6,151,000.
Sleep Number Company Profile
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.
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