SNBR has been the topic of a number of other reports. ValuEngine lowered Sleep Number from a “hold” rating to a “sell” rating in a report on Wednesday, August 12th. TheStreet cut Sleep Number from a “b-” rating to a “c+” rating in a research note on Tuesday, September 8th. Piper Sandler increased their price target on shares of Sleep Number from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Raymond James reaffirmed a “hold” rating on shares of Sleep Number in a research report on Thursday, July 16th. Finally, Zacks Investment Research lowered shares of Sleep Number from a “strong-buy” rating to a “sell” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Sleep Number currently has an average rating of “Hold” and a consensus price target of $46.71.
Shares of SNBR stock opened at $50.16 on Thursday. The firm has a 50-day moving average of $46.58 and a 200-day moving average of $37.77. Sleep Number has a one year low of $15.27 and a one year high of $61.00. The company has a market cap of $1.39 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.60 and a beta of 2.22.
Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings data on Wednesday, July 15th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.67) by $0.22. Sleep Number had a net margin of 4.70% and a negative return on equity of 48.94%. The business had revenue of $284.94 million during the quarter, compared to the consensus estimate of $233.80 million. During the same period in the prior year, the firm posted $0.14 EPS. The firm’s quarterly revenue was down 20.0% compared to the same quarter last year. On average, equities research analysts predict that Sleep Number will post 2.77 earnings per share for the current year.
In other news, CEO Shelly Radue Ibach sold 11,169 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $53.70, for a total value of $599,775.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders sold 43,463 shares of company stock worth $2,291,081. Insiders own 6.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SNBR. Alliancebernstein L.P. lifted its holdings in Sleep Number by 11.6% during the 1st quarter. Alliancebernstein L.P. now owns 1,623,407 shares of the company’s stock worth $31,104,000 after purchasing an additional 169,240 shares in the last quarter. LSV Asset Management increased its position in shares of Sleep Number by 11.6% during the second quarter. LSV Asset Management now owns 1,292,824 shares of the company’s stock valued at $53,833,000 after buying an additional 134,124 shares during the period. State Street Corp lifted its holdings in shares of Sleep Number by 3.1% in the first quarter. State Street Corp now owns 858,176 shares of the company’s stock worth $16,443,000 after buying an additional 26,149 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Sleep Number by 1.1% in the first quarter. Nuveen Asset Management LLC now owns 485,956 shares of the company’s stock valued at $9,311,000 after acquiring an additional 5,119 shares during the period. Finally, Morgan Stanley boosted its position in shares of Sleep Number by 3.7% in the first quarter. Morgan Stanley now owns 460,999 shares of the company’s stock valued at $8,832,000 after acquiring an additional 16,301 shares during the period. Institutional investors own 96.69% of the company’s stock.
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, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.
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