Sleep Number Corp (NASDAQ:SNBR) Receives $41.75 Average Target Price from Brokerages

Shares of Sleep Number Corp (NASDAQ:SNBR) have received a consensus rating of “Hold” from the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $41.75.

Several equities research analysts have issued reports on SNBR shares. UBS Group raised their price target on shares of Sleep Number from $27.00 to $29.00 and gave the stock a “sell” rating in a research note on Wednesday, October 16th. Zacks Investment Research raised shares of Sleep Number from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Friday, October 18th. Piper Jaffray Companies upped their price objective on shares of Sleep Number from $43.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Wedbush raised their target price on shares of Sleep Number from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Bank of America lowered their target price on shares of Sleep Number from $34.00 to $30.00 and set an “underperform” rating for the company in a research note on Monday, September 23rd.

Shares of NASDAQ SNBR traded up $0.12 during trading on Friday, reaching $49.09. The company had a trading volume of 137,981 shares, compared to its average volume of 567,581. Sleep Number has a twelve month low of $30.70 and a twelve month high of $52.15. The stock has a market capitalization of $1.39 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 1.27 and a beta of 1.11. The stock has a 50-day moving average price of $48.55 and a two-hundred day moving average price of $43.36.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.15. The business had revenue of $474.78 million for the quarter, compared to analyst estimates of $462.06 million. Sleep Number had a negative return on equity of 60.10% and a net margin of 5.08%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 earnings per share. Equities research analysts expect that Sleep Number will post 2.6 EPS for the current fiscal year.

In related news, SVP Andrea Lee Bloomquist sold 26,520 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $47.25, for a total transaction of $1,253,070.00. Also, CEO Shelly Radue Ibach sold 7,641 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $48.59, for a total transaction of $371,276.19. Over the last three months, insiders sold 58,533 shares of company stock worth $2,808,173. 5.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SNBR. Wedge Capital Management L L P NC raised its position in shares of Sleep Number by 11.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 8,569 shares of the company’s stock worth $346,000 after buying an additional 897 shares during the period. California Public Employees Retirement System increased its stake in Sleep Number by 7.2% during the third quarter. California Public Employees Retirement System now owns 61,697 shares of the company’s stock worth $2,549,000 after acquiring an additional 4,148 shares during the last quarter. Advisor Group Inc. increased its stake in Sleep Number by 121.7% during the second quarter. Advisor Group Inc. now owns 8,784 shares of the company’s stock worth $355,000 after acquiring an additional 4,822 shares during the last quarter. Pictet Asset Management Ltd. purchased a new position in shares of Sleep Number in the 3rd quarter worth about $17,227,000. Finally, K.J. Harrison & Partners Inc purchased a new position in shares of Sleep Number in the 3rd quarter worth about $1,653,000.

About Sleep Number

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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