Consumers like Sleep Number‘s (SNBR) adjustable beds, demonstrated by four quarters of year-over-year double-digit sales growth, and a 296% leap in profit last quarter. And on Thursday, Sleep Number stock’s Relative Strength Rating improved from to 78 from 68 on Wednesday. However, big money investors still aren’t showing much love for its stock.
The 78 RS Rating puts Minneapolis-based Sleep Number stock in the top 22% in terms of share price strength over the past year. It’s just a shade below the 80 or better RS Rating top companies have as they begin their biggest climbs. See if Sleep Number can continue to show renewed price strength and hit that benchmark.
Sleep Number Stock Lifted By Higher Sales, Profits
Among other key ratings, Sleep Number boasts a 98 EPS Rating, of a best-possible 99. Sleep Number stock’s Composite Rating is 65, putting it in the top 35% overall. One yellow flag is its D Accumulation/Distribution Rating, on an A+ to E scale. That means more institutional investors are selling than buying.
Top and bottom line growth moved higher last quarter. Earnings were up 296%, to 88 cents per share, compared to 85% in the prior report. Revenue growth increased from 20% the previous quarter to 70%, or $484.3 million. The next quarterly numbers are expected on or around Oct. 14. Its stock climbed 5.4% Thursday, to 100.29.
Sleep Number stock has moved more than 5% past a 54.93 entry in a first-stage consolidation, meaning it’s now out of a proper buy zone. Look for the stock to create a new chance to get in like a three-weeks-tight or pullback to the 50-day or 10-week moving average.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
The unique Relative Strength Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock’s price performance over the last 52 weeks compares to the rest of the market.
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