Sleep Number (SNBR) Downgraded by ValuEngine to “Hold”

ValuEngine lowered shares of Sleep Number (NASDAQ:SNBR) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Other analysts have also recently issued reports about the stock. BidaskClub cut shares of Sleep Number from a buy rating to a hold rating in a research note on Monday, February 5th. Bank of America decreased their price objective on shares of Sleep Number from $27.00 to $25.00 and set an underperform rating for the company in a research note on Thursday. Zacks Investment Research cut shares of Sleep Number from a hold rating to a sell rating in a research note on Wednesday, December 20th. Raymond James cut shares of Sleep Number from an outperform rating to a market perform rating in a research note on Thursday. Finally, Stifel Nicolaus restated a buy rating and set a $47.00 price objective (up from $40.00) on shares of Sleep Number in a research note on Friday, February 16th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and an average price target of $32.75.

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SNBR stock opened at $30.25 on Thursday. The company has a market capitalization of $1,130.92, a P/E ratio of 20.30, a P/E/G ratio of 0.86 and a beta of 0.82. Sleep Number has a 52 week low of $28.23 and a 52 week high of $40.72.

Sleep Number (NASDAQ:SNBR) last released its earnings results on Wednesday, April 18th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.04). The company had revenue of $389.00 million during the quarter, compared to analyst estimates of $396.68 million. Sleep Number had a return on equity of 74.14% and a net margin of 4.25%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.56 earnings per share. analysts anticipate that Sleep Number will post 1.81 earnings per share for the current fiscal year.

In other news, SVP Mark A. Kimball sold 8,000 shares of Sleep Number stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $34.25, for a total transaction of $274,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew P. Carlin sold 3,000 shares of Sleep Number stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $37.00, for a total transaction of $111,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,545 shares of company stock valued at $1,491,216. Company insiders own 4.30% of the company’s stock.

Several large investors have recently bought and sold shares of SNBR. BlackRock Inc. purchased a new position in shares of Sleep Number during the 4th quarter valued at approximately $188,325,000. Vulcan Value Partners LLC purchased a new position in shares of Sleep Number during the 4th quarter valued at approximately $156,698,000. Alliancebernstein L.P. purchased a new position in shares of Sleep Number during the 4th quarter valued at approximately $59,928,000. Acadian Asset Management LLC purchased a new position in shares of Sleep Number during the 4th quarter valued at approximately $27,020,000. Finally, River Road Asset Management LLC purchased a new position in shares of Sleep Number during the 4th quarter valued at approximately $26,988,000.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sleep Number (NASDAQ:SNBR)

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