Sleep Number (NASDAQ:SNBR) Earns “Neutral” Rating from Wedbush

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

Sleep Number Stock Performance

NASDAQ:SNBR traded up $0.39 during mid-day trading on Wednesday, hitting $13.26. The stock had a trading volume of 216,756 shares, compared to its average volume of 573,165. Sleep Number has a twelve month low of $9.00 and a twelve month high of $39.98. The stock has a market cap of $296.10 million, a price-to-earnings ratio of -19.50 and a beta of 1.96. The company’s 50 day simple moving average is $13.90 and its 200 day simple moving average is $14.18.

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

Institutional Trading of Sleep Number

Large investors have recently modified their holdings of the stock. Rice Hall James & Associates LLC raised its position in shares of Sleep Number by 1.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 272,926 shares of the company’s stock valued at $13,840,000 after buying an additional 4,545 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Sleep Number by 2.7% during the 1st quarter. JPMorgan Chase & Co. now owns 165,053 shares of the company’s stock valued at $8,371,000 after acquiring an additional 4,368 shares in the last quarter. Raymond James & Associates increased its holdings in Sleep Number by 287.9% in the 1st quarter. Raymond James & Associates now owns 43,507 shares of the company’s stock worth $2,206,000 after purchasing an additional 32,291 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Sleep Number by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 269,570 shares of the company’s stock valued at $13,671,000 after purchasing an additional 4,901 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Sleep Number by 4.8% during the first quarter. Citigroup Inc. now owns 22,230 shares of the company’s stock worth $1,127,000 after purchasing an additional 1,015 shares during the last quarter. 85.67% of the stock is owned by institutional investors and hedge funds.

About Sleep Number

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.