Select Comfort Corp. (SCSS) Posts Earnings Results, Misses Estimates By $0.01 EPS
Select Comfort Corp. (NASDAQ:SCSS) issued its earnings results on Wednesday. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by $0.01. Select Comfort Corp. had a return on equity of 21.79% and a net margin of 2.06%. The company earned $368 million during the quarter, compared to analysts’ expectations of $391.02 million. During the same quarter in the previous year, the company earned $0.62 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Select Comfort Corp. updated its FY16 guidance to $1.15-1.25 EPS.
Select Comfort Corp. (NASDAQ:SCSS) traded up 2.13% during trading on Wednesday, hitting $21.58. The stock had a trading volume of 1,505,722 shares. Select Comfort Corp. has a 12-month low of $14.28 and a 12-month high of $28.34. The firm has a market cap of $991.15 million, a P/E ratio of 42.48 and a beta of 1.33. The stock’s 50 day moving average price is $23.73 and its 200 day moving average price is $23.05.
A number of analysts have recently commented on the company. SunTrust Banks Inc. restated a “neutral” rating on shares of Select Comfort Corp. in a research note on Wednesday, August 10th. Piper Jaffray Cos. reiterated a “neutral” rating and set a $23.00 price target on shares of Select Comfort Corp. in a research report on Friday, July 15th. Zacks Investment Research upgraded Select Comfort Corp. from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, July 19th. Wedbush increased their price target on Select Comfort Corp. from $21.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, August 11th. Finally, TheStreet downgraded Select Comfort Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $28.17.
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 value of $89,600.00. Following the transaction, the executive vice president now owns 24,910 shares in the company, valued at approximately $697,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of SCSS. Cubist Systematic Strategies LLC bought a new position in shares of Select Comfort Corp. during the second quarter valued at about $246,000. Paloma Partners Management Co boosted its position in shares of Select Comfort Corp. by 167.3% in the second quarter. Paloma Partners Management Co now owns 31,686 shares of the company’s stock valued at $678,000 after buying an additional 19,830 shares during the period. A.R.T. Advisors LLC bought a new position in shares of Select Comfort Corp. during the second quarter valued at about $3,026,000. Parametric Portfolio Associates LLC boosted its position in shares of Select Comfort Corp. by 4.6% in the second quarter. Parametric Portfolio Associates LLC now owns 241,381 shares of the company’s stock valued at $5,161,000 after buying an additional 10,577 shares during the period. Finally, Riverhead Capital Management LLC boosted 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 during the period.
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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