Sleep Number (SNBR) – Analysts’ Recent Ratings Changes

Sleep Number (NASDAQ: SNBR) has recently received a number of price target changes and ratings updates:

  • 10/16/2019 – Sleep Number had its price target raised by analysts at UBS Group AG from $27.00 to $29.00. They now have a “sell” rating on the stock.
  • 10/16/2019 – Sleep Number had its price target raised by analysts at Piper Jaffray Companies from $43.00 to $49.00. They now have a “neutral” rating on the stock.
  • 10/16/2019 – Sleep Number had its price target raised by analysts at Wedbush from $44.00 to $45.00. They now have a “neutral” rating on the stock.
  • 10/12/2019 – Sleep Number was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $52.00 price target on the stock. According to Zacks, “Sleep Number Corporation transformed the mattress industry with the idea that ‘one size does not fit all’ when it comes to sleep. Today, the company is the leader in sleep innovation and was ranked Highest in Customer Satisfaction with Mattresses by J.D. Power. Their investments over the past five years have further differentiated their brand and strengthened their three competitive advantages: proprietary innovations that provide meaningful sleep benefits for their customers; ongoing customer relationships that are enabled by their direct-to-consumer business model; and exclusive distribution that is highly productive and fuelled by their mission-driven sales teams. Sleep Number’s business model enables one to stay focused on what is relevant to their customer while building life-long relationships with their brand. Their team of 4,000 brand ambassadors is dedicated to their mission of improving lives by individualizing sleep experiences. They are driven to improve well-being through better quality sleep. “
  • 10/9/2019 – Sleep Number was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $48.00 price target on the stock.
  • 10/8/2019 – Sleep Number was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 10/7/2019 – Sleep Number had its “neutral” rating reaffirmed by analysts at Wedbush.
  • 9/27/2019 – Sleep Number was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 9/27/2019 – Sleep Number was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Sleep Number Corporation transformed the mattress industry with the idea that ‘one size does not fit all’ when it comes to sleep. Today, the company is the leader in sleep innovation and was ranked Highest in Customer Satisfaction with Mattresses by J.D. Power. Their investments over the past five years have further differentiated their brand and strengthened their three competitive advantages: proprietary innovations that provide meaningful sleep benefits for their customers; ongoing customer relationships that are enabled by their direct-to-consumer business model; and exclusive distribution that is highly productive and fuelled by their mission-driven sales teams. Sleep Number’s business model enables one to stay focused on what is relevant to their customer while building life-long relationships with their brand. Their team of 4,000 brand ambassadors is dedicated to their mission of improving lives by individualizing sleep experiences. They are driven to improve well-being through better quality sleep. “
  • 9/25/2019 – Sleep Number was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 9/23/2019 – Sleep Number had its price target lowered by analysts at Bank of America Corp from $34.00 to $30.00. They now have an “underperform” rating on the stock.
  • 9/12/2019 – Sleep Number was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 9/5/2019 – Sleep Number was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 8/27/2019 – Sleep Number was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

Shares of Sleep Number stock traded up $1.49 during trading hours on Thursday, reaching $48.29. The company’s stock had a trading volume of 59,394 shares, compared to its average volume of 474,631. Sleep Number Corp has a one year low of $30.44 and a one year high of $52.08. The company has a market capitalization of $1.43 billion, a P/E ratio of 25.15, a P/E/G ratio of 1.59 and a beta of 1.14. The stock’s fifty day simple moving average is $42.15 and its two-hundred day simple moving average is $40.98.

Sleep Number (NASDAQ:SNBR) last released 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. Sleep Number had a net margin of 4.66% and a negative return on equity of 66.17%. The firm had revenue of $474.78 million for the quarter, compared to analyst estimates of $462.06 million. During the same period last year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts forecast that Sleep Number Corp will post 2.56 earnings per share for the current year.

In other news, Director Jean Michel Valette sold 25,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $51.50, for a total value of $1,287,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shelly Radue Ibach sold 40,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $48.87, for a total transaction of $1,954,800.00. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in SNBR. Fox Run Management L.L.C. bought a new stake in Sleep Number during the third quarter valued at approximately $212,000. Pacer Advisors Inc. lifted its position in Sleep Number by 13.5% during the third quarter. Pacer Advisors Inc. now owns 10,554 shares of the company’s stock valued at $436,000 after purchasing an additional 1,259 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Sleep Number by 119.3% during the third quarter. State of Alaska Department of Revenue now owns 22,526 shares of the company’s stock valued at $930,000 after purchasing an additional 12,256 shares during the last quarter. Maverick Capital Ltd. lifted its position in Sleep Number by 47.5% during the second quarter. Maverick Capital Ltd. now owns 52,590 shares of the company’s stock valued at $2,124,000 after purchasing an additional 16,927 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in Sleep Number by 692.5% during the second quarter. Royal Bank of Canada now owns 37,297 shares of the company’s stock valued at $1,505,000 after purchasing an additional 32,591 shares during the last quarter.

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.

Read More: Dividend Achievers

Receive News & Ratings for Sleep Number Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sleep Number Corp and related companies with MarketBeat.com's FREE daily email newsletter.