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 to investors 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 research analysts have also recently issued reports on the company. Piper Jaffray Cos. raised Select Comfort Corp. from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $23.00 to $31.00 in a research note on Monday, August 15th. Wedbush increased their target price on Select Comfort Corp. from $21.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, August 11th. SunTrust Banks Inc. reaffirmed a “neutral” rating on shares of Select Comfort Corp. in a research report on Wednesday, August 10th. TheStreet cut 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 Select Comfort Corp. from an “underperform” rating to a “neutral” rating in a research report on Friday, July 15th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Select Comfort Corp. has a consensus rating of “Buy” and an average price target of $28.17.
Shares of Select Comfort Corp. (NASDAQ:SCSS) opened at 20.83 on Wednesday. The company’s 50-day moving average price is $24.55 and its 200-day moving average price is $22.99. The stock has a market cap of $956.70 million, a PE ratio of 41.00 and a beta of 1.33. 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 announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $277 million for the quarter, compared to analysts’ expectations of $285.22 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Select Comfort Corp.’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts forecast that Select Comfort Corp. will post $1.24 earnings per share for the current fiscal year.
In other news, EVP Andrew P. Carlin sold 3,200 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was 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 of the company’s stock, valued at approximately $697,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of SCSS. Riverhead Capital Management LLC boosted its stake in Select Comfort Corp. by 25.5% in the second quarter. Riverhead Capital Management LLC now owns 12,804 shares of the company’s stock worth $139,000 after buying an additional 2,604 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of 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 period. Nisa Investment Advisors LLC raised its position in shares of 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 period. Mason Street Advisors LLC purchased a new position in shares of Select Comfort Corp. during the second quarter worth about $195,000. Finally, Menta Capital LLC purchased a new position in shares of Select Comfort Corp. during the first quarter worth about $202,000.
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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