Kempen Capital Management NV recently announced the acquisition of new stake in Sleep Number Corporation (NASDAQ:SNBR). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.44% to 1.26 million shares with purchase of 5561.0 shares. This fresh investment now brings its stake to 5.71% valued currently at $36.75 million. In addition, Mairs & Power, Inc. raised its holdings by 0.21 million to 0.84 million shares. And Dimensional Fund Advisors LP has lifted its position by 0.79% or 5341.0 shares – to 0.69 million shares.
With over 0.35 million Sleep Number Corporation (SNBR) shares trading Tuesday and a closing price of $31.07 on the day, the dollar volume was approximately $10.96 million. The shares have shown a negative half year performance of -4.75% and its price on 01/10/23 gained nearly 5.50%. Currently, there are 22.22M common shares owned by the public and among those 20.96M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for SNBR have a consensus price objective of $27.33. The analysts have set the share’s price value over the next 12 months at a high of $29.00 and a low of $26.00. The average price target is -10.96% below its recent price level and a downside to the estimated low will see the stock lose -19.5% over that period. But a downside of -7.14% will see the stock hit the forecast high price target while median target price for the stock is $27.00.
Insiders at the company have transacted a total of 73 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 43 of these insider trades were purchases, accounting for 323,583 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 189,072 shares.
The top 3 mutual fund holders in Sleep Number Corporation are iShares Core S&P Small Cap ETF, Kempen Intl. Funds – Global Small, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 1.64 million shares of the company’s stock, all valued at over $48.03 million. The company bought an additional 624.0 shares recently to bring their total holdings to about 7.46% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.88% of the shares outstanding.
Shares of Sleep Number Corporation (NASDAQ: SNBR) opened at $29.28, down -$0.17 from a prior closing price of $29.45. However, the script later moved the day high at 31.22, up 5.50%. The company’s stock has a 5-day price change of 17.11% and -16.48% over the past three months. SNBR shares are trading 19.59% year to date (YTD), with the 12-month market performance down to -59.66% lower. It has a 12-month low price of $23.60 and touched a high of $78.75 over the same period. SNBR has an average intraday trading volume of 466.88K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 15.24%, 9.57%, and -18.04% respectively.
Institutional ownership of Sleep Number Corporation (NASDAQ: SNBR) 22.22M shares outstanding. Mutual fund holders own 58.36%, while other institutional holders and individual stakeholders account for 6.47% and 46.48% respectively.
It has a market capitalization of $666.76M and a beta (3y monthly) value of 1.84. The stock’s trailing 12-month PE ratio is 13.41, while the earnings-per-share (ttm) stands at $2.32. The company has a PEG of 1.97 and a Quick Ratio of 0.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.06% over the week and 4.85% over the month.
Analysts forecast that Sleep Number Corporation (SNBR) will achieve an EPS of $1.09 for the current quarter, $0.68 for the next quarter and $3.08 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.21 while analysts give the company a high EPS estimate of $1.64. Comparatively, EPS for the current quarter was $0.47 a year ago. Earnings per share for the fiscal year are expected to increase by 25.90%, and 21.22% over the next financial year. EPS should shrink at an annualized rate of 6.80% over the next five years, compared to 41.20% over the past 5-year period.
Looking at the support for the SNBR, a number of firms have released research notes about the stock. Piper Sandler stated their Neutral rating for the stock in a research note on April 21, 2022, with the firm’s price target at $62-$49. Wedbush coverage for the Sleep Number Corporation (SNBR) stock in a research note released on March 28, 2022 offered a Neutral rating with a price target of $54. Wedbush was of a view on February 04, 2022 that the stock is Outperform, while UBS gave the stock Neutral rating on February 18, 2021, issuing a price target of $65- $135. BofA Securities on their part issued Underperform rating on February 04, 2021.
