Sleep Number (NASDAQ:SNBR) Upgraded to “Buy” at BidaskClub

Sleep Number (NASDAQ:SNBR) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, BidAskClub reports.

Several other brokerages have also weighed in on SNBR. TheStreet raised shares of Sleep Number from a “c+” rating to a “b-” rating in a research report on Wednesday, October 16th. Piper Jaffray Companies increased their price objective on shares of Sleep Number from $43.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. SunTrust Banks increased their price objective on shares of Sleep Number to $43.00 and gave the company a “hold” rating in a research report on Friday, July 26th. UBS Group increased their price objective on shares of Sleep Number from $27.00 to $29.00 and gave the company a “sell” rating in a research report on Wednesday, October 16th. Finally, ValuEngine lowered shares of Sleep Number from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $41.75.

NASDAQ SNBR opened at $48.73 on Friday. The firm’s fifty day moving average price is $42.39 and its two-hundred day moving average price is $40.99. Sleep Number has a 1 year low of $30.44 and a 1 year high of $52.08. The firm has a market capitalization of $1.42 billion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14.

Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.15. The company had revenue of $474.78 million for the quarter, compared to analyst estimates of $462.06 million. Sleep Number had a net margin of 5.08% and a negative return on equity of 60.10%. The company’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 earnings per share. As a group, sell-side analysts expect that Sleep Number will post 2.6 EPS for the current fiscal year.

In related news, insider Shelly Radue Ibach sold 40,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $48.87, for a total value of $1,954,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jean Michel Valette sold 25,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $51.50, for a total transaction of $1,287,500.00. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new position in shares of Sleep Number in the second quarter valued at about $43,000. Meeder Asset Management Inc. acquired a new position in shares of Sleep Number in the second quarter valued at about $85,000. Convergence Investment Partners LLC acquired a new position in shares of Sleep Number in the second quarter valued at about $190,000. Pitcairn Co. acquired a new position in shares of Sleep Number in the second quarter valued at about $205,000. Finally, CWM Advisors LLC grew its stake in shares of Sleep Number by 16.6% in the second quarter. CWM Advisors LLC now owns 5,170 shares of the company’s stock valued at $209,000 after acquiring an additional 737 shares in the last quarter.

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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Analyst Recommendations for Sleep Number (NASDAQ:SNBR)

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