Sleep Number (NASDAQ:SNBR) Upgraded to Buy at ValuEngine

Sleep Number (NASDAQ:SNBR) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday, February 2nd.

SNBR has been the subject of a number of other reports. Piper Jaffray Companies set a $38.00 price target on Sleep Number and gave the company a “buy” rating in a report on Wednesday, October 11th. Bank of America set a $33.00 price objective on Sleep Number and gave the company a “hold” rating in a research note on Wednesday, October 18th. Finally, Zacks Investment Research cut Sleep Number from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Sleep Number has a consensus rating of “Hold” and a consensus price target of $32.43.

Shares of Sleep Number (NASDAQ:SNBR) traded up $0.65 during trading hours on Friday, reaching $35.82. 922,500 shares of the company’s stock were exchanged, compared to its average volume of 529,413. The stock has a market capitalization of $1,400.43, a price-to-earnings ratio of 22.99, a PEG ratio of 1.01 and a beta of 0.74. Sleep Number has a one year low of $20.93 and a one year high of $40.72.

In other Sleep Number news, SVP Patricia Ann Dirks sold 8,560 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $33.90, for a total value of $290,184.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark A. Kimball sold 8,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $37.26, for a total value of $298,080.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,560 shares of company stock worth $1,174,984. Corporate insiders own 4.00% of the company’s stock.

Several large investors have recently made changes to their positions in SNBR. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Sleep Number during the 4th quarter valued at about $114,000. PNC Financial Services Group Inc. grew its stake in Sleep Number by 395.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,913 shares of the company’s stock valued at $139,000 after purchasing an additional 3,124 shares in the last quarter. Flinton Capital Management LLC grew its stake in Sleep Number by 75.6% during the 2nd quarter. Flinton Capital Management LLC now owns 4,228 shares of the company’s stock valued at $150,000 after purchasing an additional 1,820 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Sleep Number in the 4th quarter worth approximately $184,000. Finally, LS Investment Advisors LLC acquired a new position in shares of Sleep Number in the 4th quarter worth approximately $201,000.

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About Sleep Number

Sleep Number Corporation, formerly Select Comfort Corporation, is a designer, manufacturer, marketer, retailer and servicer of a line of Sleep Number beds. The Company offers consumers individualized sleep solutions and services, which include a complete line of Sleep Number beds, bases and bedding accessories.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sleep Number (NASDAQ:SNBR)

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