Sleep Number (NASDAQ:SNBR) Rating Increased to Buy at StockNews.com

Sleep Number (NASDAQ:SNBR – Get Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

SNBR has been the subject of a number of other reports. Wedbush increased their target price on Sleep Number from $27.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, February 23rd. UBS Group increased their target price on Sleep Number from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, February 23rd. Finally, Piper Sandler increased their target price on Sleep Number from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, February 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $37.75.

Sleep Number Trading Down 3.4 %

SNBR stock opened at $31.26 on Friday. Sleep Number has a 12-month low of $23.60 and a 12-month high of $65.65. The company has a market capitalization of $688.03 million, a PE ratio of 19.42, a P/E/G ratio of 1.00 and a beta of 1.87. The business’s fifty day moving average price is $33.82 and its 200 day moving average price is $33.51.

Sleep Number (NASDAQ:SNBR – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The business had revenue of $497.53 million for the quarter, compared to analyst estimates of $495.75 million. Sleep Number had a negative return on equity of 8.19% and a net margin of 1.73%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 earnings per share. Research analysts predict that Sleep Number will post 1.63 EPS for the current fiscal year.

Insider Transactions at Sleep Number

In other Sleep Number news, Director Brenda J. Lauderback sold 6,107 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $37.01, for a total transaction of $226,020.07. Following the sale, the director now owns 34,966 shares in the company, valued at $1,294,091.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Sleep Number

Large investors have recently modified their holdings of the company. Rice Hall James & Associates LLC grew its position in Sleep Number by 1.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 272,926 shares of the company’s stock valued at $13,840,000 after buying an additional 4,545 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Sleep Number by 2.7% during the first quarter. JPMorgan Chase & Co. now owns 165,053 shares of the company’s stock valued at $8,371,000 after buying an additional 4,368 shares in the last quarter. Raymond James & Associates lifted its stake in Sleep Number by 287.9% during the first quarter. Raymond James & Associates now owns 43,507 shares of the company’s stock valued at $2,206,000 after buying an additional 32,291 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Sleep Number by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 269,570 shares of the company’s stock valued at $13,671,000 after buying an additional 4,901 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in Sleep Number by 4.8% during the first quarter. Citigroup Inc. now owns 22,230 shares of the company’s stock valued at $1,127,000 after buying an additional 1,015 shares in the last quarter.

Sleep Number Company Profile

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Sleep Number Corp. designs, manufactures, markets, and distributes beds, proprietary beds, and other sleep-related accessory products. It offers beds under the brand name Sleep Number. The company was founded by Robert Walker and JoAnn Walker in 1987 and is headquartered in Minneapolis, MN.