Zacks Investment Research cut shares of Select Comfort Corp. (NASDAQ:SCSS) from a buy rating to a hold rating in a report released 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 brokerages also recently issued reports on SCSS. Piper Jaffray Cos. raised shares of Select Comfort Corp. from a neutral rating to an overweight rating and raised their price objective for the stock from $23.00 to $31.00 in a research note on Monday, August 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 target price 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. Bank of America Corp. raised shares of Select Comfort Corp. from an underperform rating to a neutral rating in a report on Friday, July 15th. Finally, TheStreet lowered shares of Select Comfort Corp. from a buy rating to a hold rating in a report on Wednesday, July 20th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $28.17.
Select Comfort Corp. (NASDAQ:SCSS) traded down 1.34% during trading on Wednesday, reaching $20.66. The company had a trading volume of 34,153 shares. The stock has a market capitalization of $948.89 million, a P/E ratio of 40.67 and a beta of 1.33. The stock has a 50 day moving average of $24.37 and a 200-day moving average of $22.98. 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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The business 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 firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. On average, 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 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 completion of the sale, the executive vice president now directly 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 available at this link. Insiders own 3.70% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Riverhead Capital Management LLC increased 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 valued at $139,000 after buying an additional 2,604 shares during the last quarter. Teacher Retirement System of Texas increased its stake in 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 during the last quarter. Nisa Investment Advisors LLC increased its stake in 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 during the last quarter. Mason Street Advisors LLC bought a new stake in Select Comfort Corp. during the second quarter valued at approximately $195,000. Finally, Menta Capital LLC bought a new stake in Select Comfort Corp. during the first quarter valued at approximately $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.