Sleep Number Co. (NASDAQ:SNBR) – Equities research analysts at KeyCorp raised their Q2 2021 earnings per share estimates for Sleep Number in a note issued to investors on Wednesday, April 21st. KeyCorp analyst B. Thomas now expects that the company will post earnings per share of $0.62 for the quarter, up from their previous estimate of $0.54. KeyCorp also issued estimates for Sleep Number’s Q4 2021 earnings at $1.79 EPS.
SNBR has been the topic of several other reports. TheStreet downgraded shares of Sleep Number from a “b” rating to a “c+” rating in a research report on Friday, April 9th. Stifel Nicolaus reiterated a “buy” rating on shares of Sleep Number in a report on Tuesday, January 26th. Bank of America lowered shares of Sleep Number from a “neutral” rating to an “underperform” rating and boosted their price objective for the stock from $73.00 to $88.00 in a report on Thursday, February 4th. Wedbush increased their target price on Sleep Number from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, February 18th. Finally, Piper Sandler boosted their price target on Sleep Number from $108.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $112.20.
Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Tuesday, April 20th. The company reported $2.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.68. Sleep Number had a negative return on equity of 70.15% and a net margin of 5.89%. The business had revenue of $568.26 million during the quarter, compared to analysts’ expectations of $582.34 million. During the same quarter in the previous year, the business earned $1.36 earnings per share. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year.
Hedge funds have recently bought and sold shares of the company. Morgan Stanley increased its holdings in Sleep Number by 43.9% in the 3rd quarter. Morgan Stanley now owns 220,175 shares of the company’s stock worth $10,770,000 after acquiring an additional 67,175 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Sleep Number in the third quarter worth $1,413,000. California State Teachers Retirement System raised its position in shares of Sleep Number by 0.4% during the 3rd quarter. California State Teachers Retirement System now owns 40,973 shares of the company’s stock valued at $2,004,000 after purchasing an additional 143 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of Sleep Number during the 3rd quarter valued at $497,000. Finally, Burney Co. boosted its holdings in Sleep Number by 96.3% in the 3rd quarter. Burney Co. now owns 39,857 shares of the company’s stock worth $1,949,000 after buying an additional 19,549 shares during the period. 94.32% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Michael J. Harrison sold 5,366 shares of the company’s stock in a transaction on Friday, February 19th. The stock was sold at an average price of $118.69, for a total transaction of $636,890.54. Also, CMO Kevin Kennedy Brown sold 10,650 shares of the stock in a transaction dated Friday, February 19th. The shares were sold at an average price of $122.36, for a total value of $1,303,134.00. Insiders sold 52,590 shares of company stock worth $6,987,878 in the last 90 days. 6.00% of the stock is currently owned by corporate insiders.
About Sleep Number
Sleep Number Corporation, together with its subsidiaries, provides 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 offers adjustable bases under the FlextFit name; temperature-balancing products, including DualTemp layer; SleepIQ Kids k2 beds for kids; and smart beds under the Sleep Number 360 and 360 names.
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