Select Comfort Corp. (SCSS) Upgraded by Zacks Investment Research to Buy
Select Comfort Corp. (NASDAQ:SCSS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $28.00 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 12.99% from the stock’s current price.
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. “
Other research analysts also recently issued research reports about the stock. Piper Jaffray Cos. reiterated a “neutral” rating and set a $23.00 target price on shares of Select Comfort Corp. in a research report on Friday, July 15th. SunTrust Banks Inc. reiterated a “neutral” rating on shares of Select Comfort Corp. in a research report on Wednesday, August 10th. Wedbush reiterated an “outperform” rating and set a $21.00 target price on shares of Select Comfort Corp. in a research report on Monday, July 18th. Bank of America Corp. upgraded shares of Select Comfort Corp. from an “underperform” rating to a “neutral” rating in a research report on Friday, July 15th. Finally, TheStreet downgraded shares of Select Comfort Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $28.17.
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Shares of Select Comfort Corp. (NASDAQ:SCSS) opened at 24.78 on Wednesday. The firm has a market cap of $1.14 billion, a PE ratio of 48.78 and a beta of 1.33. The firm has a 50-day moving average of $25.86 and a 200-day moving average of $22.60. Select Comfort Corp. has a 52 week low of $14.28 and a 52 week high of $28.34.
Select Comfort Corp. (NASDAQ:SCSS) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The firm had revenue of $277 million for the quarter, compared to the consensus estimate of $285.22 million. Select Comfort Corp. had a net margin of 2.06% and a return on equity of 21.79%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 EPS. On average, analysts expect that Select Comfort Corp. will post $1.24 EPS for the current year.
In other news, EVP Andrew P. Carlin sold 3,200 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $28.00, for a total value of $89,600.00. Following the completion of the sale, the executive vice president now owns 24,910 shares in the company, valued at approximately $697,480. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of SCSS. Norges Bank purchased a new stake in Select Comfort Corp. during the fourth quarter valued at about $9,109,000. Royce & Associates LP purchased a new stake in Select Comfort Corp. during the first quarter valued at about $475,000. Menta Capital LLC purchased a new stake in Select Comfort Corp. during the first quarter valued at about $202,000. NWQ Investment Management Company LLC purchased a new stake in Select Comfort Corp. during the first quarter valued at about $14,383,000. Finally, Kempen Capital Management N.V. raised its stake in Select Comfort Corp. by 158.8% in the first quarter. Kempen Capital Management N.V. now owns 32,323 shares of the company’s stock valued at $627,000 after buying an additional 19,835 shares during the last quarter. Hedge funds and other institutional investors own 98.77% of the company’s stock.
About Select Comfort Corp.
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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