Sleep Number (NASDAQ:SNBR) Earns Neutral Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of Sleep Number (NASDAQ:SNBR) in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a $13.50 price objective on the stock.

Sleep Number Stock Performance

SNBR opened at $13.61 on Wednesday. The firm’s 50-day simple moving average is $14.11 and its 200-day simple moving average is $14.10. Sleep Number has a twelve month low of $9.00 and a twelve month high of $39.98. The firm has a market cap of $303.91 million, a price-to-earnings ratio of -20.01 and a beta of 1.96.

Sleep Number (NASDAQ:SNBR) last posted its earnings results on Thursday, February 22nd. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.32. The business had revenue of $429.52 million for the quarter, compared to analyst estimates of $415.70 million. Sleep Number had a negative net margin of 0.81% and a negative return on equity of 1.05%. As a group, sell-side analysts anticipate that Sleep Number will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNBR. Royal Bank of Canada lifted its position in Sleep Number by 74.8% during the 1st quarter. Royal Bank of Canada now owns 1,369 shares of the company’s stock valued at $69,000 after purchasing an additional 586 shares during the period. Public Employees Retirement System of Ohio lifted its position in Sleep Number by 30.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,599 shares of the company’s stock valued at $44,000 after purchasing an additional 371 shares during the period. FMR LLC lifted its position in Sleep Number by 59.7% during the 2nd quarter. FMR LLC now owns 1,960 shares of the company’s stock valued at $60,000 after purchasing an additional 733 shares during the period. Captrust Financial Advisors lifted its position in Sleep Number by 153.6% during the 1st quarter. Captrust Financial Advisors now owns 2,166 shares of the company’s stock valued at $110,000 after purchasing an additional 1,312 shares during the period. Finally, Quarry LP acquired a new position in Sleep Number during the 2nd quarter valued at about $70,000. Institutional investors and hedge funds own 85.67% of the company’s stock.

Sleep Number Company Profile

Sleep Number Corporation, together with its subsidiaries, offers sleep solutions and services in the United States. The company designs, manufactures, markets, retails, and services beds, pillows, sheets, and other bedding products under the Sleep Number name. It also provides smart adjustable bases under the FlextFit brand, and smart beds under the Climate 360 name.