Sleep Number (NASDAQ:SNBR) Price Target Raised to $49.00

Sleep Number (NASDAQ:SNBR) had its price objective boosted by Piper Jaffray Companies from $43.00 to $49.00 in a research report report published on Wednesday, October 16th, The Fly reports. Piper Jaffray Companies currently has a neutral rating on the stock. Piper Jaffray Companies also issued estimates for Sleep Number’s Q4 2019 earnings at $0.80 EPS, Q1 2020 earnings at $0.87 EPS, Q1 2020 earnings at $0.84 EPS, Q2 2020 earnings at $0.11 EPS, Q2 2020 earnings at $0.14 EPS, Q3 2020 earnings at $0.97 EPS, Q4 2020 earnings at $0.96 EPS, FY2020 earnings at $3.04 EPS and FY2020 earnings at $2.86 EPS.

A number of other equities research analysts have also issued reports on the company. BidaskClub raised Sleep Number from a sell rating to a hold rating in a research report on Tuesday, October 8th. Wedbush increased their price objective on Sleep Number from $44.00 to $45.00 and gave the company a neutral rating in a report on Wednesday, October 16th. SunTrust Banks increased their price objective on Sleep Number to $43.00 and gave the company a hold rating in a report on Friday, July 26th. Raymond James upgraded Sleep Number from a market perform rating to an outperform rating and set a $48.00 price target on the stock in a research note on Wednesday, October 9th. Finally, ValuEngine downgraded Sleep Number from a hold rating to a sell rating in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $41.75.

Shares of Sleep Number stock traded down $2.35 during trading on Wednesday, hitting $48.91. 656,500 shares of the stock traded hands, compared to its average volume of 596,717. The stock’s fifty day simple moving average is $45.07 and its 200 day simple moving average is $41.17. Sleep Number has a 52-week low of $30.70 and a 52-week high of $52.15. The firm has a market cap of $1.38 billion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 1.57 and a beta of 1.12.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 negative return on equity of 60.10% and a net margin of 5.08%. Sleep Number’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 EPS. On average, equities research analysts anticipate that Sleep Number will post 2.6 earnings per share for the current fiscal year.

In other news, SVP Joseph Hunter Saklad sold 3,062 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.91, for a total value of $149,762.42. Also, SVP Andrea Lee Bloomquist sold 26,520 shares of the firm’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 value of $1,253,070.00. Insiders sold a total of 48,642 shares of company stock worth $2,327,479 over the last quarter. Company insiders own 5.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Sleep Number by 111.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,260 shares of the company’s stock valued at $93,000 after buying an additional 1,192 shares during the period. SG Americas Securities LLC acquired a new position in Sleep Number during the third quarter worth $262,000. Russell Investments Group Ltd. raised its holdings in Sleep Number by 6.7% during the third quarter. Russell Investments Group Ltd. now owns 10,128 shares of the company’s stock worth $408,000 after purchasing an additional 635 shares during the last quarter. California Public Employees Retirement System raised its holdings 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 purchasing an additional 4,148 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. raised its holdings in Sleep Number by 40.0% during the third quarter. Hussman Strategic Advisors Inc. now owns 35,000 shares of the company’s stock worth $1,446,000 after purchasing an additional 10,000 shares during 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.

Read More: Stock Symbols and CUSIP Explained

The Fly

Analyst Recommendations for Sleep Number (NASDAQ:SNBR)

Receive News & Ratings for Sleep Number Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sleep Number and related companies with MarketBeat.com's FREE daily email newsletter.