Sleep Number (NASDAQ:SNBR) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Sleep Number (NASDAQ:SNBR) from a buy rating to a hold rating in a report published on Friday morning.

Other research analysts also recently issued reports about the company. Piper Sandler reduced their target price on Sleep Number from $13.00 to $12.00 and set a neutral rating on the stock in a report on Thursday, August 1st. UBS Group lifted their price target on Sleep Number from $12.00 to $13.00 and gave the company a neutral rating in a report on Thursday, April 25th. Finally, Wedbush reiterated a neutral rating and set a $13.50 price target on shares of Sleep Number in a research report on Thursday, April 25th.

Sleep Number Price Performance

Shares of SNBR stock opened at $11.87 on Friday. The stock’s fifty day simple moving average is $11.25 and its 200 day simple moving average is $12.85. Sleep Number has a one year low of $8.13 and a one year high of $28.36. The firm has a market cap of $265.01 million, a price-to-earnings ratio of -7.81 and a beta of 2.05.

Sleep Number (NASDAQ:SNBR) last announced its earnings results on Wednesday, July 31st. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.22. The firm had revenue of $408.40 million for the quarter, compared to analyst estimates of $415.05 million. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 EPS. On average, research analysts anticipate that Sleep Number will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Sleep Number

In other news, Director Stephen E. Macadam purchased 43,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $12.35 per share, with a total value of $531,050.00. Following the completion of the purchase, the director now directly owns 102,729 shares of the company’s stock, valued at approximately $1,268,703.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Sleep Number

Several institutional investors have recently modified their holdings of SNBR. XTX Topco Ltd acquired a new stake in Sleep Number during the 2nd quarter worth $128,000. Renaissance Technologies LLC bought a new position in Sleep Number during the second quarter worth about $195,000. Federated Hermes Inc. acquired a new position in Sleep Number in the second quarter valued at about $899,000. Acadian Asset Management LLC raised its position in shares of Sleep Number by 135.3% during the second quarter. Acadian Asset Management LLC now owns 235,305 shares of the company’s stock worth $2,249,000 after purchasing an additional 135,284 shares during the period. Finally, First Dallas Securities Inc. bought a new position in shares of Sleep Number during the 2nd quarter valued at about $282,000. 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.