Sleep Number (NASDAQ:SNBR – Get a Free Report) was downgraded to “hold” from “buy” by analysts at StockNews.com in a note to investors on Friday.
SNBR has been the subject of several other research reports. Wedbush reiterated a “neutral” rating and set a $13.50 price target on shares of Sleep Number in a research report on Thursday, April 25th. UBS Group increased their price target on Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Finally, Piper Sandler reduced their price target on Sleep Number from $13.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st.
Get our latest research report on SNBR
Sleep Number shares rise 3.1%
NASDAQ:SNBR opened at $11.74 on Friday. The company has a market cap of $262.11 million, a price-to-earnings ratio of -7.72 and a beta of 2.05. Sleep Number has a twelve-month low of $8.13 and a twelve-month high of $30.72. The stock’s 50-day moving average price is $11.36 and its 200-day moving average price is $12.83.
Sleep Number (NASDAQ:SNBR – Get Free Report) last released its quarterly earnings results on Wednesday, July 31. The company reported earnings per share of -$0.22 for the quarter, beating the consensus estimate of -$0.44 by $0.22. The company had revenue of $408.40 million for the quarter, compared to analyst estimates of $415.05 million. The company’s revenue for the quarter decreased 11.0% compared to the year-ago quarter. During the same period last year, the company generated earnings per share of $0.03. Overall, analysts expect Sleep Number to report earnings per share of -$0.02 for the current year.
Insider transactions at Sleep Number
In other Sleep Number news, Director Stephen E. Macadam bought 43,000 shares of Sleep Number in a transaction that occurred on Tuesday, August 6. The shares were bought at an average price of $12.35 per share, for a total transaction of $531,050.00. Following the purchase, the director now owns 102,729 shares of the company’s stock, valued at approximately $1,268,703.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.80% of the shares are currently owned by company insiders.
Institutional trading with Sleep Number
Several institutional investors have recently increased or reduced their stakes in the company. Federated Hermes Inc. acquired a new stake in Sleep Number during the 2nd quarter valued at $899,000. Acadian Asset Management LLC increased its stake in Sleep Number by 135.3% during the 2nd quarter. Acadian Asset Management LLC now owns 235,305 shares of the company’s stock valued at $2,249,000 after purchasing an additional 135,284 shares during the period. First Dallas Securities Inc. acquired a new stake in Sleep Number during the 2nd quarter valued at $282,000. Hodges Capital Management Inc. increased its stake in Sleep Number by 138.5% during the 2nd quarter. Hodges Capital Management Inc. now owns 409,915 shares of the company’s stock valued at $3,923,000 after purchasing an additional 238,015 shares during the period. Finally, Rhumbline Advisers increased its stake in Sleep Number by 9.8% during the 2nd quarter. Rhumbline Advisers now owns 37,659 shares of the company’s stock valued at $360,000 after acquiring an additional 3,350 shares during the same period. 85.67% of the shares are currently owned by institutional investors.
About Sleep Number
(Get free report)
Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. The company designs, manufactures, markets, sells and services beds, pillows, sheets and other bedding products under the Sleep Number name. It also offers smart adjustable bed bases under the FlextFit brand and smart beds under the Climate 360 name.
Read more
Get daily news and reviews for Sleep Number – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Sleep Number and related companies with MarketBeat.com’s FREE daily email newsletter.
