Zacks Investment Research upgraded shares of Select Comfort Corp. (NASDAQ:SCSS) from a hold rating to a buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $28.00 target price on the stock.
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 have also recently weighed in on SCSS. Bank of America Corp. raised shares of Select Comfort Corp. from an underperform rating to a neutral rating in a research note on Friday, July 15th. Piper Jaffray Cos. reissued a neutral rating and issued a $23.00 price objective on shares of Select Comfort Corp. in a research note on Friday, July 15th. Wedbush reissued an outperform rating and issued a $21.00 price objective on shares of Select Comfort Corp. in a research note on Monday, July 18th. TheStreet cut shares of Select Comfort Corp. from a buy rating to a hold rating in a research note on Wednesday, July 20th. Finally, SunTrust Banks Inc. reissued a neutral rating on shares of Select Comfort Corp. in a research note on Wednesday, August 10th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $28.17.
Select Comfort Corp. (NASDAQ:SCSS) opened at 25.56 on Wednesday. Select Comfort Corp. has a 52 week low of $14.28 and a 52 week high of $28.34. The firm has a 50-day moving average of $26.02 and a 200-day moving average of $22.68. The company has a market capitalization of $1.17 billion, a PE ratio of 50.31 and a beta of 1.33.
Select Comfort Corp. (NASDAQ:SCSS) last posted its earnings results 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. The firm had revenue of $277 million for the quarter, compared to analysts’ expectations 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 was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Equities analysts expect that Select Comfort Corp. will post $1.24 earnings per share for the current fiscal year.
In related news, EVP Andrew P. Carlin sold 3,200 shares of the business’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 transaction, the executive vice president now owns 24,910 shares in the company, valued at $697,480. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in SCSS. Riverhead Capital Management LLC raised its position 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 valued at $139,000 after buying an additional 2,604 shares in 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 valued at $152,000 after buying an additional 855 shares in the last quarter. 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 valued at $191,000 after buying an additional 150 shares in the last quarter. Mason Street Advisors LLC bought a new position in shares of Select Comfort Corp. during the second quarter valued at $195,000. Finally, Menta Capital LLC bought a new position in shares of Select Comfort Corp. during the first quarter valued at $202,000. Institutional investors and hedge funds 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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