Sleep Number Co. (NASDAQ:SNBR) Receives $122.00 Average PT from Brokerages

Sleep Number Co. (NASDAQ:SNBR) has earned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $122.00.

SNBR has been the subject of several analyst reports. Piper Sandler reissued an “overweight” rating and issued a $135.00 price objective (down from $165.00) on shares of Sleep Number in a research note on Wednesday, July 21st. TheStreet downgraded Sleep Number from a “c+” rating to a “d-” rating in a research note on Tuesday, July 20th. Finally, Zacks Investment Research lowered Sleep Number from a “buy” rating to a “hold” rating in a report on Thursday, September 16th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Credit Suisse AG grew its holdings in Sleep Number by 0.6% during the second quarter. Credit Suisse AG now owns 25,798 shares of the company’s stock valued at $2,837,000 after purchasing an additional 159 shares during the period. Los Angeles Capital Management LLC grew its holdings in Sleep Number by 2.4% during the second quarter. Los Angeles Capital Management LLC now owns 7,401 shares of the company’s stock valued at $814,000 after purchasing an additional 170 shares during the period. BancorpSouth Bank grew its holdings in Sleep Number by 2.4% during the second quarter. BancorpSouth Bank now owns 8,294 shares of the company’s stock valued at $912,000 after purchasing an additional 198 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Sleep Number by 2.1% during the second quarter. State Board of Administration of Florida Retirement System now owns 10,852 shares of the company’s stock valued at $1,193,000 after purchasing an additional 224 shares during the period. Finally, Algert Global LLC grew its holdings in Sleep Number by 5.2% during the second quarter. Algert Global LLC now owns 4,597 shares of the company’s stock valued at $505,000 after purchasing an additional 227 shares during the period. 95.81% of the stock is owned by institutional investors and hedge funds.

SNBR stock traded up $0.94 during trading on Monday, reaching $85.89. 11,862 shares of the stock were exchanged, compared to its average volume of 465,526. The firm’s 50 day moving average is $95.58 and its 200 day moving average is $106.51. Sleep Number has a twelve month low of $56.75 and a twelve month high of $151.44. The firm has a market cap of $2.03 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 0.94 and a beta of 1.93.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings results on Monday, July 19th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.29). The firm had revenue of $484.32 million for the quarter, compared to analyst estimates of $506.25 million. Sleep Number had a negative return on equity of 75.84% and a net margin of 9.37%. The firm’s quarterly revenue was up 70.0% compared to the same quarter last year. During the same period last year, the company posted ($0.45) earnings per share. As a group, sell-side analysts predict that Sleep Number will post 7.28 EPS for the current year.

About Sleep Number

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.

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Analyst Recommendations for Sleep Number (NASDAQ:SNBR)

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