Sleep Number (NASDAQ:SNBR) had its target price raised by equities researchers at Barclays from $36.00 to $38.00 in a research note issued to investors on Thursday, Briefing.com Automated Import reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential downside of 2.96% from the stock’s current price.
SNBR has been the subject of a number of other research reports. SunTrust Banks lifted their price target on Sleep Number to $35.00 and gave the company a “hold” rating in a research note on Thursday, February 14th. BidaskClub upgraded Sleep Number from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 6th. Piper Jaffray Companies lifted their price target on Sleep Number to $43.00 and gave the company a “neutral” rating in a research note on Thursday, February 14th. They noted that the move was a valuation call. Zacks Investment Research upgraded Sleep Number from a “sell” rating to a “hold” rating in a research note on Saturday, February 16th. Finally, ValuEngine upgraded Sleep Number from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Sleep Number has an average rating of “Hold” and an average target price of $39.83.
Sleep Number stock traded down $8.87 during midday trading on Thursday, reaching $39.16. The stock had a trading volume of 5,223,735 shares, compared to its average volume of 637,305. Sleep Number has a 12 month low of $26.22 and a 12 month high of $49.56. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.04 and a beta of 1.30.
Sleep Number (NASDAQ:SNBR) last released its quarterly earnings results on Wednesday, April 17th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $426.45 million during the quarter, compared to the consensus estimate of $427.53 million. Sleep Number had a negative return on equity of 178.70% and a net margin of 4.54%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. On average, sell-side analysts predict that Sleep Number will post 2.43 earnings per share for the current fiscal year.
In other news, insider Shelly Radue Ibach sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $42.00, for a total value of $420,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrew P. Carlin sold 34,190 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $42.42, for a total value of $1,450,339.80. The disclosure for this sale can be found here. Insiders sold a total of 146,262 shares of company stock worth $6,532,158 in the last 90 days. Company insiders own 5.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its position in Sleep Number by 3.6% during the third quarter. Wells Fargo & Company MN now owns 53,831 shares of the company’s stock valued at $1,981,000 after purchasing an additional 1,863 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Sleep Number during the 3rd quarter valued at approximately $206,000. Riverhead Capital Management LLC increased its stake in Sleep Number by 26.6% during the 3rd quarter. Riverhead Capital Management LLC now owns 8,084 shares of the company’s stock valued at $297,000 after purchasing an additional 1,700 shares in the last quarter. Paloma Partners Management Co increased its stake in Sleep Number by 77.7% during the 3rd quarter. Paloma Partners Management Co now owns 15,101 shares of the company’s stock valued at $555,000 after purchasing an additional 6,601 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in Sleep Number during the 3rd quarter valued at approximately $816,000.
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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