Sleep Number Co. (NASDAQ:SNBR) – Equities researchers at Piper Sandler boosted their Q3 2021 earnings per share (EPS) estimates for shares of Sleep Number in a report issued on Wednesday, April 14th. Piper Sandler analyst P. Keith now expects that the company will post earnings per share of $1.87 for the quarter, up from their previous forecast of $1.85. Piper Sandler has a “Overweight” rating and a $165.00 price objective on the stock. Piper Sandler also issued estimates for Sleep Number’s FY2021 earnings at $6.05 EPS, Q1 2022 earnings at $1.94 EPS, Q3 2022 earnings at $2.16 EPS, Q4 2022 earnings at $2.15 EPS and FY2022 earnings at $6.89 EPS.
SNBR has been the topic of several other research reports. Wedbush boosted their price target on shares of Sleep Number from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, February 18th. Bank of America lowered shares of Sleep Number from a “neutral” rating to an “underperform” rating and boosted their price target for the company from $73.00 to $88.00 in a report on Thursday, February 4th. Stifel Nicolaus reissued a “buy” rating on shares of Sleep Number in a report on Tuesday, January 26th. TheStreet lowered shares of Sleep Number from a “b” rating to a “c+” rating in a report on Friday, April 9th. Finally, UBS Group raised shares of Sleep Number from a “sell” rating to a “neutral” rating and upped their target price for the stock from $65.00 to $135.00 in a report on Thursday, February 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $112.20.
Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings results on Tuesday, February 16th. The company reported $2.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.66. The firm had revenue of $567.90 million for the quarter, compared to analyst estimates of $558.55 million. Sleep Number had a net margin of 5.89% and a negative return on equity of 70.15%.
In related news, Director Jean Michel Valette sold 25,000 shares of the company’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $137.70, for a total transaction of $3,442,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Melissa Barra sold 1,274 shares of the company’s stock in a transaction dated Thursday, March 25th. The stock was sold at an average price of $127.42, for a total transaction of $162,333.08. Following the transaction, the executive vice president now owns 41,272 shares in the company, valued at approximately $5,258,878.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,590 shares of company stock worth $6,987,878. 6.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Inspire Advisors LLC acquired a new position in Sleep Number during the 4th quarter worth about $31,000. Optimum Investment Advisors acquired a new position in Sleep Number during the 1st quarter valued at about $43,000. Strs Ohio acquired a new position in Sleep Number during the 4th quarter valued at about $81,000. Veriti Management LLC acquired a new position in Sleep Number during the 4th quarter valued at about $88,000. Finally, Captrust Financial Advisors lifted its position in Sleep Number by 45.9% during the 3rd quarter. Captrust Financial Advisors now owns 3,240 shares of the company’s stock valued at $160,000 after purchasing an additional 1,020 shares during the period. Institutional investors and hedge funds own 94.32% of the company’s stock.
Sleep Number Company Profile
Sleep Number Corporation, together with its subsidiaries, provides 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 offers adjustable bases under the FlextFit name; temperature-balancing products, including DualTemp layer; SleepIQ Kids k2 beds for kids; and smart beds under the Sleep Number 360 and 360 names.
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