Sleep Number (NASDAQ:SNBR) PT Lowered to $45.00 at Bank of America

Sleep Number (NASDAQ:SNBRGet Rating) had its price objective reduced by Bank of America from $55.00 to $45.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s target price would indicate a potential downside of 5.92% from the company’s current price.

Other analysts also recently issued research reports about the company. Wedbush cut their price target on Sleep Number from $80.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, March 28th. Zacks Investment Research downgraded Sleep Number from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 1st. StockNews.com began coverage on Sleep Number in a research note on Thursday, March 31st. They set a “hold” rating on the stock. UBS Group cut their target price on Sleep Number from $80.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, February 24th. Finally, Piper Sandler cut their target price on Sleep Number from $75.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, April 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $69.40.

Shares of SNBR stock traded down $1.79 during midday trading on Monday, reaching $47.83. 10,487 shares of the stock were exchanged, compared to its average volume of 540,376. Sleep Number has a 1 year low of $48.60 and a 1 year high of $125.89. The company has a 50 day simple moving average of $60.97. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 7.87, a PEG ratio of 0.65 and a beta of 1.65.

Sleep Number (NASDAQ:SNBRGet Rating) last posted its earnings results on Wednesday, February 23rd. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.13). Sleep Number had a negative return on equity of 38.40% and a net margin of 7.04%. The firm had revenue of $491.98 million for the quarter, compared to analysts’ expectations of $601.20 million. During the same quarter last year, the company posted $2.19 EPS. The firm’s revenue was down 13.4% on a year-over-year basis. Analysts predict that Sleep Number will post 6.02 earnings per share for the current year.

In other Sleep Number news, Director Daniel Alegre sold 17,000 shares of the stock in a transaction on Friday, February 25th. The stock was sold at an average price of $65.89, for a total transaction of $1,120,130.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.80% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D raised its stake in shares of Sleep Number by 22.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 28,646 shares of the company’s stock valued at $2,678,000 after buying an additional 5,186 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in Sleep Number by 25.2% in the 3rd quarter. WINTON GROUP Ltd now owns 2,917 shares of the company’s stock worth $273,000 after buying an additional 588 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in Sleep Number in the 3rd quarter worth about $237,000. Banque Cantonale Vaudoise boosted its holdings in Sleep Number by 62.6% in the 3rd quarter. Banque Cantonale Vaudoise now owns 483 shares of the company’s stock worth $45,000 after buying an additional 186 shares during the last quarter. Finally, Maryland State Retirement & Pension System acquired a new position in shares of Sleep Number during the 3rd quarter worth approximately $963,000. Institutional investors own 97.90% of the company’s stock.

Sleep Number Company Profile (Get Rating)

Sleep Number Corporation, together with its subsidiaries, offers sleep solutions and services in the United States. The company designs, manufactures, markets, retails, and services beds, pillows, sheets, and other bedding products under the Sleep Number name. It also provides adjustable bases under the FlextFit, and smart beds under the Sleep Number 360 brands.

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