BidaskClub lowered shares of Sleep Number (NASDAQ:SNBR) from a strong-buy rating to a buy rating in a research note released on Tuesday.

Several other brokerages have also recently issued reports on SNBR. Zacks Investment Research raised Sleep Number from a hold rating to a buy rating and set a $41.00 price objective on the stock in a report on Wednesday, September 26th. ValuEngine raised Sleep Number from a hold rating to a buy rating in a report on Tuesday, September 11th. Piper Jaffray Companies cut Sleep Number from an overweight rating to a neutral rating in a report on Thursday, July 26th. Stifel Nicolaus decreased their price objective on Sleep Number from $47.00 to $43.00 and set a buy rating on the stock in a report on Thursday, July 26th. Finally, TheStreet cut Sleep Number from a b- rating to a c rating in a report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $35.25.

SNBR stock traded up $0.78 during midday trading on Tuesday, hitting $32.40. The company’s stock had a trading volume of 482,889 shares, compared to its average volume of 622,856. Sleep Number has a 12 month low of $26.22 and a 12 month high of $40.72. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.10 and a beta of 1.15.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings results on Wednesday, July 25th. The company reported $0.02 earnings per share for the quarter. Sleep Number had a return on equity of 115.80% and a net margin of 4.47%. The business had revenue of $316.34 million during the quarter, compared to the consensus estimate of $314.81 million. During the same period in the prior year, the company posted ($0.02) EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts predict that Sleep Number will post 1.81 EPS for the current fiscal year.

In related news, CFO David R. Callen purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The shares were bought at an average price of $27.88 per share, for a total transaction of $27,880.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shelly Radue Ibach sold 10,000 shares of the stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $38.00, for a total value of $380,000.00. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Dalton Greiner Hartman Maher & Co. raised its holdings in Sleep Number by 6.7% during the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 651,931 shares of the company’s stock valued at $23,978,000 after buying an additional 40,829 shares during the period. Schroder Investment Management Group increased its stake in Sleep Number by 19.9% in the second quarter. Schroder Investment Management Group now owns 28,081 shares of the company’s stock worth $837,000 after purchasing an additional 4,652 shares during the period. Millennium Management LLC increased its stake in Sleep Number by 39.3% in the second quarter. Millennium Management LLC now owns 28,154 shares of the company’s stock worth $817,000 after purchasing an additional 7,949 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Sleep Number in the second quarter worth $178,000. Finally, Point72 Asset Management L.P. purchased a new stake in Sleep Number in the second quarter worth $226,000.

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 and sheets, as well as other bedding products, including mattresses, box springs, and foundations under the Sleep Number name.

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Analyst Recommendations for Sleep Number (NASDAQ:SNBR)

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