Sleep Number (SNBR) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Sleep Number (NASDAQ:SNBR) from a hold rating to a buy rating in a report issued on Friday.

A number of other analysts have also recently weighed in on the company. ValuEngine upgraded Sleep Number from a hold rating to a buy rating in a research note on Friday, October 26th. Zacks Investment Research upgraded Sleep Number from a hold rating to a buy rating and set a $41.00 price target on the stock in a research note on Wednesday, September 26th. Finally, TheStreet cut Sleep Number from a c rating to a d- rating in a research note on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $35.25.

Sleep Number stock opened at $33.79 on Friday. Sleep Number has a 1-year low of $26.22 and a 1-year high of $41.05. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 0.79 and a beta of 1.35.



Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings results on Wednesday, October 24th. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.19). Sleep Number had a net margin of 3.93% and a return on equity of 490.11%. The business had revenue of $438.78 million during the quarter, compared to analyst estimates of $410.90 million. Equities research analysts predict that Sleep Number will post 1.77 EPS for the current year.

In related news, EVP Andrew P. Carlin sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $38.86, for a total transaction of $116,580.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kathleen L. Nedorostek sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $37.30, for a total value of $186,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,006 shares of company stock worth $891,350. Corporate insiders own 4.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. boosted its holdings in Sleep Number by 5,404.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 429,371 shares of the company’s stock valued at $15,792,000 after purchasing an additional 421,571 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Sleep Number by 119.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 358,405 shares of the company’s stock valued at $13,182,000 after acquiring an additional 194,805 shares during the period. Man Group plc lifted its position in shares of Sleep Number by 16.6% during the 3rd quarter. Man Group plc now owns 524,328 shares of the company’s stock valued at $19,284,000 after acquiring an additional 74,591 shares during the period. Disciplined Growth Investors Inc. MN lifted its position in shares of Sleep Number by 1.9% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 3,651,363 shares of the company’s stock valued at $134,297,000 after acquiring an additional 68,752 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its position in shares of Sleep Number by 42.5% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 199,281 shares of the company’s stock valued at $7,330,000 after acquiring an additional 59,430 shares during the period.

Sleep Number Company Profile

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 and sheets, as well as other bedding products, including mattresses, box springs, and foundations under the Sleep Number name.

Further Reading: Stock Symbol

Analyst Recommendations for Sleep Number (NASDAQ:SNBR)

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