Select Comfort Corp. (SCSS) Posts Earnings Results, Misses Estimates By $0.01 EPS
Select Comfort Corp. (NASDAQ:SCSS) posted its quarterly earnings data on Wednesday. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. Select Comfort Corp. had a net margin of 2.06% and a return on equity of 21.79%. The company had revenue of $368 million for the quarter, compared to analysts’ expectations of $391.02 million. During the same period in the previous year, the firm earned $0.62 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Select Comfort Corp. updated its FY16 guidance to $1.15-1.25 EPS.
Select Comfort Corp. (NASDAQ:SCSS) traded up 2.13% during mid-day trading on Wednesday, reaching $21.58. The company’s stock had a trading volume of 1,505,722 shares. The firm’s 50 day moving average is $23.73 and its 200-day moving average is $23.05. The company has a market cap of $991.15 million, a PE ratio of 42.48 and a beta of 1.33. Select Comfort Corp. has a 12-month low of $14.28 and a 12-month high of $28.34.
In other news, EVP Andrew P. Carlin sold 3,200 shares of the company’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 sale, the executive vice president now owns 24,910 shares in the company, valued at $697,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Profund Advisors LLC bought a new stake in shares of Select Comfort Corp. during the second quarter worth approximately $202,000. Cubist Systematic Strategies LLC bought a new stake in shares of Select Comfort Corp. during the second quarter worth approximately $246,000. Pacad Investment Ltd. bought a new stake in shares of Select Comfort Corp. during the second quarter worth approximately $250,000. Riverhead Capital Management LLC increased its stake 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 worth $139,000 after buying an additional 2,604 shares during the last quarter. Finally, Deere & Co. bought a new stake in shares of Select Comfort Corp. during the second quarter worth approximately $435,000.
A number of research analysts have recently weighed in on SCSS shares. Zacks Investment Research raised Select Comfort Corp. from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Wednesday, September 21st. TheStreet downgraded Select Comfort Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Piper Jaffray Cos. raised Select Comfort Corp. from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $23.00 to $31.00 in a research note on Monday, August 15th. Bank of America Corp. raised Select Comfort Corp. from an “underperform” rating to a “neutral” rating in a research note on Friday, July 15th. Finally, Wedbush lifted their target price on Select Comfort Corp. from $21.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, August 11th. 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 company currently has a consensus rating of “Buy” and an average price target of $28.17.
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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