Sleep Number Corp (NASDAQ:SNBR) – Stock analysts at SunTrust Banks cut their Q3 2019 earnings per share estimates for shares of Sleep Number in a research report issued to clients and investors on Wednesday, February 13th. SunTrust Banks analyst K. Hughes now expects that the company will post earnings of $0.63 per share for the quarter, down from their previous estimate of $0.65. SunTrust Banks has a “Hold” rating and a $35.00 price objective on the stock.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Wednesday, February 13th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.14). The firm had revenue of $411.80 million for the quarter, compared to the consensus estimate of $407.51 million. Sleep Number had a net margin of 4.54% and a negative return on equity of 508.82%. Sleep Number’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the company posted $0.33 earnings per share.

Several other research firms have also recently issued reports on SNBR. ValuEngine raised Sleep Number from a “hold” rating to a “buy” rating in a research note on Thursday. BidaskClub raised shares of Sleep Number from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 27th. Zacks Investment Research cut shares of Sleep Number from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. TheStreet cut shares of Sleep Number from a “c” rating to a “d-” rating in a research note on Wednesday, October 24th. Finally, Piper Jaffray Companies upped their target price on shares of Sleep Number to $43.00 and gave the company a “neutral” rating in a research report on Thursday. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $37.17.

Shares of SNBR stock opened at $41.13 on Friday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 0.81 and a beta of 1.25. Sleep Number has a 52-week low of $26.22 and a 52-week high of $42.90.

In related news, Director Kathleen L. Nedorostek sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $37.30, for a total value of $186,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew P. Carlin sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $37.10, for a total value of $111,300.00. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Hedge funds have recently modified their holdings of the company. TIAA CREF Investment Management LLC grew its position in Sleep Number by 1.0% in the third quarter. TIAA CREF Investment Management LLC now owns 214,985 shares of the company’s stock valued at $7,907,000 after acquiring an additional 2,204 shares during the period. MetLife Investment Advisors LLC acquired a new position in Sleep Number in the third quarter valued at about $816,000. Fox Run Management L.L.C. acquired a new stake in shares of Sleep Number during the fourth quarter worth about $318,000. U S Global Investors Inc raised its position in shares of Sleep Number by 29.5% during the third quarter. U S Global Investors Inc now owns 35,480 shares of the company’s stock worth $1,305,000 after purchasing an additional 8,080 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Sleep Number by 3.2% during the third quarter. Legal & General Group Plc now owns 81,334 shares of the company’s stock worth $2,984,000 after buying an additional 2,522 shares in the last quarter.

About Sleep Number

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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Earnings History and Estimates for Sleep Number (NASDAQ:SNBR)

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