Select Comfort Corp. (SCSS) Lowered 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 report 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. “
Several other analysts also recently commented on SCSS. 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. SunTrust Banks Inc. reaffirmed a “neutral” rating on shares of Select Comfort Corp. in a research report on Wednesday, August 10th. Wedbush raised their price objective on shares of Select Comfort Corp. from $21.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, August 11th. TheStreet downgraded shares of Select Comfort Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Finally, Bank of America Corp. raised shares of Select Comfort Corp. from an “underperform” rating to a “neutral” rating in a research report on Friday, July 15th. Six investment 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. The stock currently has an average rating of “Buy” and a consensus target price of $28.17.
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Select Comfort Corp. (NASDAQ:SCSS) opened at 20.83 on Wednesday. The company has a market capitalization of $956.70 million, a price-to-earnings ratio of 41.00 and a beta of 1.33. The stock has a 50 day moving average of $24.55 and a 200 day moving average of $22.99. Select Comfort Corp. has a 12 month low of $14.28 and a 12 month high of $28.34.
Select Comfort Corp. (NASDAQ:SCSS) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The company earned $277 million during 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 quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 EPS. Equities analysts anticipate that Select Comfort Corp. will post $1.24 EPS for the current fiscal year.
In other Select Comfort Corp. news, EVP Andrew P. Carlin sold 3,200 shares of Select Comfort Corp. stock in a transaction on Monday, August 15th. The shares were 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 of the company’s stock, valued at approximately $697,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of SCSS. Emerald Acquisition Ltd. purchased a new position in Select Comfort Corp. during the second quarter worth about $3,738,000. Mutual of America Capital Management LLC increased its position in Select Comfort Corp. by 26.4% in the second quarter. Mutual of America Capital Management LLC now owns 536,513 shares of the company’s stock worth $11,471,000 after buying an additional 112,058 shares in the last quarter. Bank of Montreal Can purchased a new position in Select Comfort Corp. during the second quarter worth about $2,475,000. Copper Rock Capital Partners LLC increased its position in Select Comfort Corp. by 1.6% in the second quarter. Copper Rock Capital Partners LLC now owns 1,114,208 shares of the company’s stock worth $23,822,000 after buying an additional 17,348 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Select Comfort Corp. during the second quarter worth about $265,000.
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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