Sleep Number (NASDAQ:SNBR) Sets New 52-Week Low at $71.70

Shares of Sleep Number Co. (NASDAQ:SNBR) reached a new 52-week low during trading on Friday . The stock traded as low as $71.70 and last traded at $71.87, with a volume of 6298 shares changing hands. The stock had previously closed at $75.85.

SNBR has been the topic of several research reports. Wedbush decreased their price target on shares of Sleep Number from $130.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, October 28th. Zacks Investment Research upgraded shares of Sleep Number from a “sell” rating to a “hold” rating in a research report on Saturday, October 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Sleep Number presently has an average rating of “Hold” and a consensus target price of $116.80.

The company’s 50-day moving average is $79.14 and its two-hundred day moving average is $91.59. The company has a market capitalization of $1.64 billion, a P/E ratio of 9.16, a PEG ratio of 0.74 and a beta of 1.70.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings results on Wednesday, October 27th. The company reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.78. The company had revenue of $640.00 million during the quarter, compared to analyst estimates of $569.90 million. Sleep Number had a negative return on equity of 58.26% and a net margin of 9.02%. The firm’s revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.79 earnings per share. Analysts expect that Sleep Number Co. will post 7.24 EPS for the current fiscal year.

In other news, CMO Kevin Kennedy Brown sold 16,190 shares of the company’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $89.79, for a total transaction of $1,453,700.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Christopher D. Krusmark sold 1,705 shares of the business’s stock in a transaction that occurred on Thursday, November 4th. The shares were sold at an average price of $91.00, for a total value of $155,155.00. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaCrest Capital Management LLC purchased a new stake in Sleep Number in the second quarter valued at about $2,007,000. Federated Hermes Inc. raised its stake in shares of Sleep Number by 133.0% in the second quarter. Federated Hermes Inc. now owns 20,963 shares of the company’s stock worth $2,305,000 after purchasing an additional 11,967 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Sleep Number in the second quarter worth about $213,000. State of Alaska Department of Revenue raised its stake in shares of Sleep Number by 1.8% in the third quarter. State of Alaska Department of Revenue now owns 17,234 shares of the company’s stock worth $1,611,000 after purchasing an additional 308 shares during the last quarter. Finally, Capula Management Ltd purchased a new position in shares of Sleep Number in the second quarter worth about $279,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

Sleep Number Company Profile (NASDAQ:SNBR)

Sleep Number Corp. designs, manufactures, markets, and distributes beds, proprietary beds, and other sleep-related accessory products. It offers beds under the brand name Sleep Number. The company was founded by Robert Walker and JoAnn Walker in 1987 and is headquartered in Minneapolis, MN.

Further Reading: What is an Initial Public Offering (IPO)?

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