Sleep Number (NASDAQ:SNBR) Downgraded by BidaskClub to “Hold”

BidaskClub downgraded shares of Sleep Number (NASDAQ:SNBR) from a buy rating to a hold rating in a research note released on Tuesday, BidAskClub reports.

SNBR has been the subject of a number of other reports. TheStreet raised shares of Sleep Number from a c+ rating to a b- rating in a research report on Wednesday, October 16th. Wedbush upped their target price on shares of Sleep Number from $44.00 to $45.00 and gave the company a neutral rating in a research note on Wednesday, October 16th. UBS Group upped their target price on shares of Sleep Number from $27.00 to $29.00 and gave the company a sell rating in a research note on Wednesday, October 16th. Zacks Investment Research upgraded shares of Sleep Number from a hold rating to a buy rating and set a $52.00 target price on the stock in a research note on Friday, October 18th. Finally, SunTrust Banks upped their target price on shares of Sleep Number to $43.00 and gave the company a hold rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $41.75.

Shares of NASDAQ SNBR traded down $2.35 during trading on Tuesday, hitting $48.91. 656,500 shares of the company traded hands, compared to its average volume of 596,717. The company has a 50-day moving average price of $45.07 and a 200-day moving average price of $41.17. The firm has a market capitalization of $1.38 billion, a P/E ratio of 25.47, a P/E/G ratio of 1.57 and a beta of 1.12. Sleep Number has a 1 year low of $30.70 and a 1 year high of $52.15.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.15. The company had revenue of $474.78 million during the quarter, compared to analysts’ expectations of $462.06 million. Sleep Number had a net margin of 5.08% and a negative return on equity of 60.10%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. On average, research analysts predict that Sleep Number will post 2.6 EPS for the current fiscal year.

In other news, Director Brenda J. Lauderback sold 4,565 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $47.25, for a total value of $215,696.25. Also, SVP Andrea Lee Bloomquist sold 26,520 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $47.25, for a total transaction of $1,253,070.00. Corporate insiders own 5.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its stake in Sleep Number by 2.0% during the second quarter. UBS Asset Management Americas Inc. now owns 20,534 shares of the company’s stock worth $829,000 after acquiring an additional 409 shares during the period. Bridge City Capital LLC raised its stake in Sleep Number by 0.5% during the second quarter. Bridge City Capital LLC now owns 99,332 shares of the company’s stock worth $4,012,000 after acquiring an additional 483 shares during the period. Eqis Capital Management Inc. raised its stake in Sleep Number by 9.2% during the second quarter. Eqis Capital Management Inc. now owns 7,477 shares of the company’s stock worth $302,000 after acquiring an additional 631 shares during the period. Russell Investments Group Ltd. raised its stake in Sleep Number by 6.7% during the third quarter. Russell Investments Group Ltd. now owns 10,128 shares of the company’s stock worth $408,000 after acquiring an additional 635 shares during the period. Finally, CWM Advisors LLC raised its stake in Sleep Number by 16.6% during the second quarter. CWM Advisors LLC now owns 5,170 shares of the company’s stock worth $209,000 after acquiring an additional 737 shares during the period.

About Sleep Number

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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