Sleep Number (SNBR) Stock Rating Lowered by ValuEngine

Sleep Number (NASDAQ:SNBR) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, ValuEngine reports.

A number of other research firms have also recently weighed in on SNBR. Zacks Investment Research cut shares of Sleep Number from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub upgraded shares of Sleep Number from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 6th. Barclays reiterated a “hold” rating on shares of Sleep Number in a report on Friday, February 15th. Piper Jaffray Companies lifted their price target on shares of Sleep Number to $43.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. They noted that the move was a valuation call. Finally, SunTrust Banks lifted their price target on shares of Sleep Number to $35.00 and gave the company a “hold” rating in a report on Thursday, February 14th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $42.80.

SNBR opened at $39.16 on Friday. Sleep Number has a fifty-two week low of $26.22 and a fifty-two week high of $49.56. The firm has a market cap of $1.18 billion, a P/E ratio of 20.40, a PEG ratio of 1.04 and a beta of 1.30.

Sleep Number (NASDAQ:SNBR) last released its earnings results on Wednesday, April 17th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Sleep Number had a net margin of 4.54% and a negative return on equity of 178.70%. The company had revenue of $426.45 million for the quarter, compared to analysts’ expectations of $427.53 million. During the same quarter in the previous year, the company earned $0.52 EPS. Sleep Number’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, research analysts expect that Sleep Number will post 2.43 earnings per share for the current year.

In other news, SVP Patricia Ann Dirks sold 6,502 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $49.00, for a total value of $318,598.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew P. Carlin sold 34,190 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $42.42, for a total transaction of $1,450,339.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 152,764 shares of company stock worth $6,850,756. Insiders own 5.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Calamos Advisors LLC bought a new position in shares of Sleep Number during the 1st quarter worth approximately $482,000. Deutsche Bank AG increased its stake in Sleep Number by 56.9% during the 4th quarter. Deutsche Bank AG now owns 135,066 shares of the company’s stock valued at $4,283,000 after purchasing an additional 48,969 shares in the last quarter. Geode Capital Management LLC increased its stake in Sleep Number by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 416,283 shares of the company’s stock valued at $13,207,000 after purchasing an additional 4,251 shares in the last quarter. Norges Bank acquired a new position in Sleep Number during the 4th quarter valued at approximately $16,774,000. Finally, Advisory Services Network LLC acquired a new position in Sleep Number during the 4th quarter valued at approximately $121,000.

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.

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