Zacks Investment Research Downgrades Select Comfort Corp. (SCSS) to Hold
According to Zacks, “SELECT COMFORT is engaged in the manufacture, specialty retailing and direct marketing of premium quality, innovative adjustable-firmness beds and other sleep-related products. “
SCSS has been the topic of several other reports. TheStreet lowered Select Comfort Corp. from a buy rating to a hold rating in a report on Wednesday, July 20th. Piper Jaffray Cos. upgraded Select Comfort Corp. from a neutral rating to an overweight rating and raised their target price for the company from $23.00 to $31.00 in a report on Monday, August 15th. Bank of America Corp. upgraded Select Comfort Corp. from an underperform rating to a neutral rating in a report on Friday, July 15th. Wedbush raised their target price on Select Comfort Corp. from $21.00 to $27.00 and gave the company an outperform rating in a report on Thursday, August 11th. Finally, SunTrust Banks Inc. restated a neutral rating on shares of Select Comfort Corp. in a report on Wednesday, August 10th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Select Comfort Corp. presently has an average rating of Buy and a consensus price target of $28.17.
Select Comfort Corp. (NASDAQ:SCSS) opened at 21.00 on Wednesday. The firm’s 50-day moving average price is $23.88 and its 200-day moving average price is $23.04. Select Comfort Corp. has a 12-month low of $14.28 and a 12-month high of $28.34. The company has a market cap of $964.51 million, a P/E ratio of 41.34 and a beta of 1.33.
Select Comfort Corp. (NASDAQ:SCSS) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm earned $277 million during the quarter, compared to analysts’ expectations of $285.22 million. Select Comfort Corp. had a return on equity of 21.79% and a net margin of 2.06%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 earnings per share. Analysts expect that Select Comfort Corp. will post $1.24 EPS for the current year.
In related news, EVP Andrew P. Carlin sold 3,200 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $28.00, for a total transaction of $89,600.00. Following the transaction, the executive vice president now directly owns 24,910 shares in the company, valued at $697,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Riverhead Capital Management LLC raised its position in shares of Select Comfort Corp. by 25.5% in the second quarter. Riverhead Capital Management LLC now owns 12,804 shares of the company’s stock valued at $139,000 after buying an additional 2,604 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Select Comfort Corp. by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 7,097 shares of the company’s stock worth $152,000 after buying an additional 855 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Select Comfort Corp. by 1.7% in the second quarter. Nisa Investment Advisors LLC now owns 8,950 shares of the company’s stock worth $191,000 after buying an additional 150 shares during the last quarter. Mason Street Advisors LLC bought a new stake in Select Comfort Corp. during the second quarter worth $195,000. Finally, Menta Capital LLC bought a new stake in Select Comfort Corp. during the first quarter worth $202,000.
Select Comfort Corp. Company Profile
Select Comfort Corporation is a designer, manufacturer, marketer, retailer and servicer of a line of Sleep Number beds. The Company’s Sleep Number bed offers SleepIQ technology sensors that work directly with the bed’s DualAir technology to monitor each individual’s sleep. The Company also offers a line of sleep products, including FlextFit adjustable base technology and Sleep Number pillows, sheets and other bedding products.
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