Sleep Number (NASDAQ:SNBR) Given “Neutral” Rating at Wedbush

Wedbush reissued their neutral rating on shares of Sleep Number (NASDAQ:SNBR) in a research note released on Wednesday morning, Benzinga reports. They currently have a $13.50 target price on the stock.

Sleep Number Trading Up 2.4 %

Shares of SNBR stock opened at $13.18 on Wednesday. The company’s 50-day moving average price is $13.90 and its 200-day moving average price is $14.18. 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 $294.31 million, a price-to-earnings ratio of -19.50 and a beta of 1.96.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SNBR. Jacobs Levy Equity Management Inc. lifted its position in shares of Sleep Number by 588.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 239,838 shares of the company’s stock worth $5,898,000 after purchasing an additional 205,015 shares in the last quarter. Stadium Capital Management LLC lifted its position in shares of Sleep Number by 51.2% during the third quarter. Stadium Capital Management LLC now owns 2,002,227 shares of the company’s stock worth $49,235,000 after purchasing an additional 678,001 shares in the last quarter. Swiss National Bank lifted its position in shares of Sleep Number by 2.7% during the third quarter. Swiss National Bank now owns 48,800 shares of the company’s stock worth $1,200,000 after purchasing an additional 1,300 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Sleep Number by 15.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 618,152 shares of the company’s stock worth $15,200,000 after purchasing an additional 84,449 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Sleep Number by 345.5% during the third quarter. Public Employees Retirement System of Ohio now owns 7,124 shares of the company’s stock worth $175,000 after purchasing an additional 5,525 shares in the last quarter. Institutional investors and hedge funds 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.