Sleep Number (NASDAQ:SNBR) Upgraded by TheStreet to “B-“

TheStreet upgraded shares of Sleep Number (NASDAQ:SNBR) from a c+ rating to a b- rating in a research report report published on Wednesday, TheStreetRatingsTable reports.

Several other equities analysts have also commented on SNBR. Piper Jaffray Companies upped their price target on Sleep Number from $43.00 to $49.00 and gave the stock a neutral rating in a research note on Wednesday. SunTrust Banks upped their price target on Sleep Number to $43.00 and gave the stock a hold rating in a research note on Friday, July 26th. BidaskClub upgraded Sleep Number from a sell rating to a hold rating in a research note on Tuesday, October 8th. UBS Group upped their price target on Sleep Number from $27.00 to $29.00 and gave the stock a sell rating in a research note on Wednesday. Finally, ValuEngine lowered Sleep Number from a hold rating to a sell rating in a research note on Wednesday, September 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Sleep Number has a consensus rating of Hold and a consensus price target of $41.75.

Shares of NASDAQ SNBR traded up $0.43 during trading on Wednesday, reaching $48.73. The company had a trading volume of 784,400 shares, compared to its average volume of 608,266. Sleep Number has a twelve month low of $30.44 and a twelve month high of $52.08. The stock has a market capitalization of $1.37 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 1.62 and a beta of 1.14. The stock has a 50-day moving average price of $42.28 and a two-hundred day moving average price of $40.99.

Sleep Number (NASDAQ:SNBR) last released its quarterly earnings results on Tuesday, October 15th. The company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.15. Sleep Number had a negative return on equity of 64.02% and a net margin of 5.08%. The company had revenue of $474.78 million during the quarter, compared to analysts’ expectations of $462.06 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts expect that Sleep Number will post 2.58 EPS for the current fiscal year.

In related news, insider Shelly Radue Ibach sold 40,000 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $48.87, for a total value of $1,954,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jean Michel Valette sold 25,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $51.50, for a total value of $1,287,500.00. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new position in Sleep Number during the 2nd quarter worth approximately $43,000. Meeder Asset Management Inc. bought a new position in Sleep Number during the 2nd quarter worth approximately $85,000. Convergence Investment Partners LLC bought a new position in Sleep Number during the 2nd quarter worth approximately $190,000. Pitcairn Co. bought a new position in Sleep Number during the 2nd quarter worth approximately $205,000. Finally, Fox Run Management L.L.C. bought a new position in Sleep Number during the 3rd quarter worth approximately $212,000.

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, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.

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Analyst Recommendations for Sleep Number (NASDAQ:SNBR)

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