Sleep Number (NASDAQ:SNBR) Stock Rating Upgraded by BidaskClub

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Sleep Number (NASDAQ:SNBR) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday, BidAskClub reports.

SNBR has been the topic of a number of other research reports. Barclays reissued a “hold” rating on shares of Sleep Number in a report on Friday, February 15th. Zacks Investment Research lowered Sleep Number from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. SunTrust Banks increased their price objective on Sleep Number to $35.00 and gave the company a “hold” rating in a report on Thursday, February 14th. Piper Jaffray Companies increased their price objective on Sleep Number to $43.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. They noted that the move was a valuation call. Finally, ValuEngine raised Sleep Number from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Sleep Number has an average rating of “Hold” and a consensus price target of $42.80.

Shares of NASDAQ SNBR opened at $37.09 on Monday. The stock has a market cap of $1.12 billion, a PE ratio of 19.32, a P/E/G ratio of 1.09 and a beta of 1.07. Sleep Number has a 52 week low of $26.22 and a 52 week high of $49.56.

Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings data on Wednesday, April 17th. The company reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.07. The business had revenue of $426.45 million for the quarter, compared to analyst estimates of $427.53 million. Sleep Number had a negative return on equity of 92.30% and a net margin of 4.74%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 EPS. Analysts expect that Sleep Number will post 2.45 earnings per share for the current year.

In other Sleep Number news, CFO David R. Callen bought 2,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average price of $33.57 per share, with a total value of $67,140.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Patricia Ann Dirks sold 6,502 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $49.00, for a total value of $318,598.00. The disclosure for this sale can be found here. Insiders sold a total of 48,074 shares of company stock worth $2,322,558 in the last ninety days. Insiders own 5.60% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Penserra Capital Management LLC acquired a new stake in Sleep Number in the 1st quarter valued at approximately $31,000. Coastal Investment Advisors Inc. bought a new stake in shares of Sleep Number in the 1st quarter worth approximately $42,000. Premia Global Advisors LLC bought a new stake in shares of Sleep Number in the 1st quarter worth approximately $61,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Sleep Number in the 1st quarter worth approximately $62,000. Finally, US Bancorp DE lifted its position in shares of Sleep Number by 51.0% in the 1st quarter. US Bancorp DE now owns 1,842 shares of the company’s stock worth $87,000 after acquiring an additional 622 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, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.

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