Sleep Number Co. (NASDAQ:SNBR – Get Rating) – Equities researchers at KeyCorp lowered their Q2 2022 earnings per share (EPS) estimates for Sleep Number in a research report issued on Wednesday, April 20th. KeyCorp analyst B. Thomas now expects that the company will post earnings per share of $0.80 for the quarter, down from their prior forecast of $1.35. KeyCorp also issued estimates for Sleep Number’s Q3 2022 earnings at $2.37 EPS, FY2022 earnings at $5.05 EPS and FY2023 earnings at $5.80 EPS.
Several other analysts have also recently weighed in on the stock. Bank of America dropped their price target on shares of Sleep Number from $55.00 to $45.00 and set an “underperform” rating for the company in a research note on Monday, April 18th. Zacks Investment Research lowered shares of Sleep Number from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 1st. Wedbush reduced their price objective on shares of Sleep Number from $80.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, March 28th. UBS Group reduced their price objective on shares of Sleep Number from $80.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, February 24th. Finally, Piper Sandler downgraded shares of Sleep Number from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $62.00 to $49.00 in a research report on Thursday. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $66.80.
Sleep Number (NASDAQ:SNBR – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.24). The firm had revenue of $527.13 million during the quarter, compared to analyst estimates of $534.38 million. Sleep Number had a negative return on equity of 20.53% and a net margin of 4.16%. The company’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the company posted $2.51 EPS.
In related news, Director Daniel Alegre sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, February 25th. The shares were sold at an average price of $65.89, for a total value of $1,120,130.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.80% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio bought a new stake in Sleep Number during the first quarter valued at $770,000. Inspire Investing LLC bought a new position in Sleep Number in the 1st quarter valued at about $276,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Sleep Number by 135.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,364 shares of the company’s stock valued at $373,000 after buying an additional 4,236 shares in the last quarter. CWM LLC grew its position in Sleep Number by 164.8% in the 1st quarter. CWM LLC now owns 511 shares of the company’s stock valued at $26,000 after buying an additional 318 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Sleep Number by 60.4% in the 1st quarter. Pacer Advisors Inc. now owns 143,894 shares of the company’s stock valued at $7,297,000 after acquiring an additional 54,188 shares during the last quarter. 97.90% of the stock is currently owned by institutional investors and hedge funds.
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.
- Get a free copy of the StockNews.com research report on Sleep Number (SNBR)
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