ValuEngine Lowers Sleep Number (NASDAQ:SNBR) to Hold

ValuEngine cut shares of Sleep Number (NASDAQ:SNBR) from a buy rating to a hold rating in a report issued on Friday morning, ValuEngine reports.

SNBR has been the subject of a number of other research reports. Zacks Investment Research cut Sleep Number from a buy rating to a hold rating in a research report on Tuesday, April 23rd. TheStreet upgraded Sleep Number from a d- rating to a c+ rating in a research report on Thursday, April 18th. SunTrust Banks upped their price objective on Sleep Number to $43.00 and gave the company a hold rating in a research report on Friday, July 26th. Barclays reiterated an equal weight rating and set a $38.00 price objective (up previously from $36.00) on shares of Sleep Number in a research report on Thursday, April 18th. Finally, BidaskClub upgraded Sleep Number from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Sleep Number has an average rating of Hold and a consensus price target of $44.75.

Shares of NASDAQ:SNBR opened at $43.97 on Friday. The company has a market capitalization of $1.37 billion, a P/E ratio of 22.90, a P/E/G ratio of 1.09 and a beta of 1.13. Sleep Number has a 1 year low of $28.48 and a 1 year high of $52.08. The firm’s fifty day simple moving average is $41.94.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The firm had revenue of $355.96 million for the quarter, compared to the consensus estimate of $336.30 million. Sleep Number had a negative return on equity of 66.17% and a net margin of 4.66%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share. On average, equities analysts expect that Sleep Number will post 2.55 earnings per share for the current fiscal year.

In other Sleep Number news, insider Shelly Radue Ibach sold 40,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $48.87, for a total value of $1,954,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jean Michel Valette sold 25,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $51.50, for a total value of $1,287,500.00. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Penserra Capital Management LLC purchased a new stake in Sleep Number in the first quarter worth about $31,000. O Shaughnessy Asset Management LLC purchased a new stake in Sleep Number in the first quarter worth about $62,000. Meeder Asset Management Inc. purchased a new stake in Sleep Number in the second quarter worth about $85,000. Advisor Group Inc. increased its position in Sleep Number by 1,761.0% in the fourth quarter. Advisor Group Inc. now owns 3,722 shares of the company’s stock worth $118,000 after buying an additional 3,522 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Sleep Number in the fourth quarter worth about $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, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.

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