Select Comfort Corp. (SCSS) Cut to “Hold” at Zacks Investment Research
Select Comfort Corp. (NASDAQ:SCSS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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 a number of other research reports. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $23.00 price objective on shares of Select Comfort Corp. in a research report on Friday, July 15th. TheStreet downgraded shares of Select Comfort Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Wedbush reiterated an “outperform” rating and set a $21.00 target price on shares of Select Comfort Corp. in a research note on Monday, July 18th. SunTrust Banks Inc. reiterated a “neutral” rating on shares of Select Comfort Corp. in a research note on Wednesday, August 10th. Finally, Bank of America Corp. upgraded shares of Select Comfort Corp. from an “underperform” rating to a “neutral” rating in a research note on Friday, July 15th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Select Comfort Corp. currently has an average rating of “Buy” and a consensus price target of $28.17.
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Select Comfort Corp. (NASDAQ:SCSS) opened at 20.83 on Wednesday. The stock has a market cap of $956.70 million, a price-to-earnings ratio of 41.00 and a beta of 1.33. The firm’s 50 day moving average price is $24.55 and its 200-day moving average price is $22.99. Select Comfort Corp. has a 1-year low of $14.28 and a 1-year high of $28.34.
Select Comfort Corp. (NASDAQ:SCSS) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Select Comfort Corp. had a return on equity of 21.79% and a net margin of 2.06%. The business had revenue of $277 million for the quarter, compared to analyst estimates of $285.22 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, equities analysts anticipate that Select Comfort Corp. will post $1.24 earnings per share for the current year.
In other Select Comfort Corp. 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 transaction, the executive vice president now owns 24,910 shares in the company, valued at $697,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in SCSS. Vulcan Value Partners LLC acquired a new stake in shares of Select Comfort Corp. during the second quarter worth approximately $88,019,000. NWQ Investment Management Company LLC acquired a new stake in shares of Select Comfort Corp. during the first quarter worth approximately $14,383,000. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Select Comfort Corp. during the second quarter worth approximately $14,871,000. Alliancebernstein L.P. boosted its stake in shares of Select Comfort Corp. by 15.4% in the second quarter. Alliancebernstein L.P. now owns 2,984,022 shares of the company’s stock worth $63,798,000 after buying an additional 397,774 shares during the last quarter. Finally, Oxford Asset Management boosted its stake in shares of Select Comfort Corp. by 178.0% in the second quarter. Oxford Asset Management now owns 439,947 shares of the company’s stock worth $9,406,000 after buying an additional 281,718 shares during the last quarter.
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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