Wedbush Reiterates “Neutral” Rating for Sleep Number (NASDAQ:SNBR)

Sleep Number (NASDAQ:SNBR)‘s stock had its “neutral” rating restated by stock analysts at Wedbush in a research report issued on Wednesday, Benzinga reports. They currently have a $13.50 target price on the stock. Wedbush’s price objective suggests a potential upside of 1.81% from the company’s previous close.

Sleep Number Trading Up 3.0 %

Shares of SNBR stock traded up $0.39 during trading hours on Wednesday, reaching $13.26. 216,756 shares of the company’s stock were exchanged, compared to its average volume of 573,165. Sleep Number has a fifty-two week low of $9.00 and a fifty-two week high of $39.98. The stock’s 50 day moving average is $13.90 and its 200-day moving average is $14.18. The company has a market cap of $296.10 million, a price-to-earnings ratio of -19.50 and a beta of 1.96.

Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.32. Sleep Number had a negative return on equity of 1.05% and a negative net margin of 0.81%. The business had revenue of $429.52 million during the quarter, compared to the consensus estimate of $415.70 million. Equities analysts anticipate that Sleep Number will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Sleep Number

Large investors have recently bought and sold shares of the company. Hodges Capital Management Inc. increased its stake in shares of Sleep Number by 4.7% in the first quarter. Hodges Capital Management Inc. now owns 171,900 shares of the company’s stock worth $2,755,000 after acquiring an additional 7,700 shares during the period. GAMMA Investing LLC boosted its holdings in Sleep Number by 250.6% in the first quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock valued at $68,000 after purchasing an additional 3,027 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Sleep Number during the 1st quarter worth about $434,000. GSA Capital Partners LLP raised its stake in shares of Sleep Number by 61.3% during the 4th quarter. GSA Capital Partners LLP now owns 125,992 shares of the company’s stock valued at $1,868,000 after buying an additional 47,893 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Sleep Number by 334.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 30,921 shares of the company’s stock valued at $459,000 after buying an additional 23,797 shares during the period. Hedge funds and other institutional investors own 85.67% of the company’s stock.

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.