Sleep Number (NASDAQ:SNBR) Hits New 1-Year Low at $48.08

Shares of Sleep Number Co. (NASDAQ:SNBR – Get Rating) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $48.08 and last traded at $48.31, with a volume of 1719 shares changing hands. The stock had previously closed at $49.62.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Sleep Number from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 1st. Wedbush reduced their target price on Sleep Number from $80.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, March 28th. StockNews.com began coverage on Sleep Number in a report on Thursday, March 31st. They set a “hold” rating for the company. UBS Group reduced their price objective on Sleep Number from $80.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, February 24th. Finally, Piper Sandler reduced their price objective on Sleep Number from $75.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, April 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.50.

The stock’s fifty day simple moving average is $60.97. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 8.16, a P/E/G ratio of 0.65 and a beta of 1.65.

Sleep Number (NASDAQ:SNBR – Get Rating) last posted its earnings results on Wednesday, February 23rd. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($1.13). The company had revenue of $491.98 million for the quarter, compared to analysts’ expectations of $601.20 million. Sleep Number had a negative return on equity of 38.40% and a net margin of 7.04%. The company’s revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.19 EPS. Equities research analysts expect that Sleep Number Co. will post 6.02 earnings per share for the current fiscal year.

In other Sleep Number news, Director Daniel Alegre sold 17,000 shares of the stock in a transaction on Friday, February 25th. The stock was sold at an average price of $65.89, for a total transaction of $1,120,130.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.80% of the company’s stock.

Large investors have recently bought and sold shares of the business. Whittier Trust Co. raised its position in shares of Sleep Number by 341.9% in the fourth quarter. Whittier Trust Co. now owns 380 shares of the company’s stock worth $29,000 after buying an additional 294 shares in the last quarter. Banque Cantonale Vaudoise raised its position in shares of Sleep Number by 62.6% in the third quarter. Banque Cantonale Vaudoise now owns 483 shares of the company’s stock worth $45,000 after buying an additional 186 shares in the last quarter. Stonebridge Capital Advisors LLC purchased a new stake in shares of Sleep Number in the fourth quarter worth $42,000. Gladius Capital Management LP purchased a new stake in shares of Sleep Number in the fourth quarter worth $91,000. Finally, Pinnacle Holdings LLC purchased a new stake in shares of Sleep Number in the third quarter worth $116,000. Hedge funds and other institutional investors own 97.90% of the company’s stock.

Sleep Number Company Profile (NASDAQ:SNBR)

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 adjustable bases under the FlextFit, and smart beds under the Sleep Number 360 brands.

Further Reading