Sleep Number (NASDAQ:SNBR) Given “Neutral” Rating at Wedbush

Wedbush reissued their neutral rating on shares of Sleep Number (NASDAQ:SNBR) in a report published on Wednesday morning, Benzinga reports. Wedbush currently has a $13.50 price objective on the stock.

Sleep Number Stock Up 2.4 %

Shares of SNBR stock opened at $13.18 on Wednesday. Sleep Number has a fifty-two week low of $9.00 and a fifty-two week high of $39.98. The stock has a market cap of $294.31 million, a P/E ratio of -19.50 and a beta of 1.96. The business has a fifty day simple moving average of $13.90 and a 200-day simple moving average of $14.18.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.32. Sleep Number had a negative return on equity of 1.05% and a negative net margin of 0.81%. The business had revenue of $429.52 million during the quarter, compared to analysts’ expectations of $415.70 million. On average, sell-side analysts anticipate that Sleep Number will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Rice Hall James & Associates LLC raised its stake 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 purchasing an additional 4,545 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Sleep Number by 2.7% in the 1st quarter. JPMorgan Chase & Co. now owns 165,053 shares of the company’s stock valued at $8,371,000 after purchasing an additional 4,368 shares during the last quarter. Raymond James & Associates raised its stake in Sleep Number by 287.9% in the 1st quarter. Raymond James & Associates now owns 43,507 shares of the company’s stock valued at $2,206,000 after purchasing an additional 32,291 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Sleep Number by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 269,570 shares of the company’s stock valued at $13,671,000 after purchasing an additional 4,901 shares during the last quarter. Finally, Citigroup Inc. raised its stake in Sleep Number by 4.8% in the 1st quarter. Citigroup Inc. now owns 22,230 shares of the company’s stock valued at $1,127,000 after purchasing an additional 1,015 shares during the last quarter. Hedge funds and other institutional investors own 85.67% of the company’s stock.

About Sleep Number

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 smart adjustable bases under the FlextFit brand, and smart beds under the Climate 360 name.