Sleep Number (SNBR) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Sleep Number (NASDAQ:SNBR) from a hold rating to a sell rating in a report published on Thursday.

According to Zacks, “Sleep Number Corporation transformed the mattress industry with the idea that ‘one size does not fit all’ when it comes to sleep. Today, the company is the leader in sleep innovation and was ranked Highest in Customer Satisfaction with Mattresses by J.D. Power. Their investments over the past five years have further differentiated their brand and strengthened their three competitive advantages: proprietary innovations that provide meaningful sleep benefits for their customers; ongoing customer relationships that are enabled by their direct-to-consumer business model; and exclusive distribution that is highly productive and fuelled by their mission-driven sales teams. Sleep Number’s business model enables one to stay focused on what is relevant to their customer while building life-long relationships with their brand. Their team of 4,000 brand ambassadors is dedicated to their mission of improving lives by individualizing sleep experiences. They are driven to improve well-being through better quality sleep. “

A number of other equities research analysts also recently weighed in on the stock. ValuEngine raised shares of Sleep Number from a hold rating to a buy rating in a research note on Friday, October 26th. TheStreet downgraded shares of Sleep Number from a c rating to a d- rating in a research note on Wednesday, October 24th. Finally, BidaskClub downgraded shares of Sleep Number from a strong-buy rating to a buy rating in a research note on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Sleep Number has an average rating of Hold and an average price target of $35.25.

SNBR opened at $33.79 on Thursday. The company has a market cap of $1.16 billion, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 0.79 and a beta of 1.35. Sleep Number has a fifty-two week low of $26.22 and a fifty-two week high of $41.05.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings results on Wednesday, October 24th. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.19). The business had revenue of $438.78 million for the quarter, compared to the consensus estimate of $410.90 million. Sleep Number had a return on equity of 490.11% and a net margin of 3.93%. On average, analysts predict that Sleep Number will post 1.77 EPS for the current year.

In other Sleep Number news, Director Kathleen L. Nedorostek sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $37.30, for a total value of $186,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shelly Radue Ibach sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,006 shares of company stock valued at $891,350. 4.30% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of SNBR. Cubist Systematic Strategies LLC bought a new stake in Sleep Number in the second quarter valued at approximately $178,000. Hsbc Holdings PLC bought a new stake in Sleep Number in the third quarter valued at approximately $206,000. Point72 Asset Management L.P. bought a new stake in Sleep Number in the second quarter valued at approximately $226,000. Flinton Capital Management LLC increased its stake in Sleep Number by 37.6% in the second quarter. Flinton Capital Management LLC now owns 8,466 shares of the company’s stock valued at $246,000 after purchasing an additional 2,312 shares in the last quarter. Finally, AMP Capital Investors Ltd bought a new stake in Sleep Number in the second quarter valued at approximately $249,000.

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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