SunTrust Banks Comments on Sleep Number Corp’s Q2 2020 Earnings (NASDAQ:SNBR)

Sleep Number Corp (NASDAQ:SNBR) – Investment analysts at SunTrust Banks cut their Q2 2020 earnings per share estimates for Sleep Number in a research note issued on Wednesday, October 16th. SunTrust Banks analyst K. Hughes now expects that the company will earn $0.16 per share for the quarter, down from their prior estimate of $0.19. SunTrust Banks has a “Hold” rating and a $43.00 price objective on the stock.

Sleep Number (NASDAQ:SNBR) last released its quarterly earnings results on Tuesday, October 15th. The company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.15. The firm had revenue of $474.78 million for the quarter, compared to analyst estimates of $462.06 million. Sleep Number had a net margin of 5.08% and a negative return on equity of 60.10%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share.

A number of other research firms also recently weighed in on SNBR. TheStreet raised shares of Sleep Number from a “c+” rating to a “b-” rating in a research note on Wednesday, October 16th. Zacks Investment Research upgraded shares of Sleep Number from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Friday. Wedbush upped their price target on shares of Sleep Number from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. BidaskClub raised shares of Sleep Number from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Piper Jaffray Companies increased their price objective on shares of Sleep Number from $43.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Sleep Number has a consensus rating of “Hold” and an average target price of $41.75.

Shares of NASDAQ SNBR opened at $48.73 on Monday. Sleep Number has a 1-year low of $30.44 and a 1-year high of $52.08. The company has a market cap of $1.42 billion, a PE ratio of 25.38, a P/E/G ratio of 1.56 and a beta of 1.14. The company has a 50-day moving average of $42.39 and a two-hundred day moving average of $40.99.

Large investors have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC acquired a new stake in Sleep Number during the second quarter worth about $24,372,000. Canada Pension Plan Investment Board grew its stake in Sleep Number by 1,345.7% during the second quarter. Canada Pension Plan Investment Board now owns 488,720 shares of the company’s stock worth $19,739,000 after buying an additional 454,914 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Sleep Number during the second quarter worth about $6,999,000. APG Asset Management N.V. grew its stake in Sleep Number by 110.2% during the second quarter. APG Asset Management N.V. now owns 222,000 shares of the company’s stock worth $7,874,000 after buying an additional 116,400 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Sleep Number during the second quarter worth about $4,242,000.

In related news, Director Jean Michel Valette sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $51.50, for a total transaction of $1,287,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Shelly Radue Ibach sold 40,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $48.87, for a total transaction of $1,954,800.00. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

About Sleep Number

Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, retails, and services beds, bases, and bedding accessories under the Sleep Number name. The company also offers adjustable bases under the FlextFit name; and pillows, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.

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Earnings History and Estimates for Sleep Number (NASDAQ:SNBR)

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