Sleep Number (NASDAQ:SNBR) Shares Down 3.3% – What’s Next?

Sleep Number Corporation (NASDAQ:SNBR) shares traded down 3.3% on Monday . The stock traded as low as $7.87 and last traded at $8.18. 837,468 shares were traded during mid-day trading, a decline of 2% from the average session volume of 857,685 shares. The stock had previously closed at $8.46.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sleep Number in a research note on Tuesday, October 14th. UBS Group reduced their target price on Sleep Number from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $8.00.

Sleep Number Stock Performance

The stock has a market cap of $186.42 million, a P/E ratio of -2.40 and a beta of 1.92. The firm has a 50 day moving average of $5.77 and a two-hundred day moving average of $7.56.

Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.08). The business had revenue of $342.88 million during the quarter, compared to the consensus estimate of $362.48 million. The firm’s revenue for the quarter was down 19.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) earnings per share. On average, sell-side analysts anticipate that Sleep Number Corporation will post -0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC bought a new stake in Sleep Number during the third quarter worth about $70,000. Sei Investments Co. acquired a new position in shares of Sleep Number during the second quarter valued at $73,000. Sherbrooke Park Advisers LLC bought a new position in shares of Sleep Number in the 3rd quarter valued at about $87,000. Inscription Capital LLC bought a new position in Sleep Number in the third quarter valued at approximately $91,000. Finally, First Dallas Securities Inc. bought a new position in shares of Sleep Number in the 3rd quarter worth $91,000. 85.67% of the stock is currently owned by institutional investors and hedge funds.

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.