Select Comfort Corp. (SCSS) Lifted to Buy at Zacks Investment Research

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Select Comfort Corp. (NASDAQ:SCSS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $28.00 price target on the stock. Zacks Investment Research’s price target suggests a potential upside of 12.99% from the stock’s current price.
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 have also recently issued reports on SCSS. Piper Jaffray Cos. upgraded Select Comfort Corp. from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $23.00 to $31.00 in a research note on Monday, August 15th. SunTrust Banks Inc. reiterated a “neutral” rating on shares of Select Comfort Corp. in a research note on Wednesday, August 10th. Wedbush increased their price objective 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. Bank of America Corp. upgraded Select Comfort Corp. from an “underperform” rating to a “neutral” rating in a research note on Friday, July 15th. Finally, TheStreet cut Select Comfort Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $28.17.

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Shares of Select Comfort Corp. (NASDAQ:SCSS) opened at 24.78 on Wednesday. Select Comfort Corp. has a 12 month low of $14.28 and a 12 month high of $28.34. The firm’s 50-day moving average price is $25.86 and its 200-day moving average price is $22.60. The firm has a market cap of $1.14 billion, a PE ratio of 48.78 and a beta of 1.33.
Select Comfort Corp. (NASDAQ:SCSS) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm earned $0.21 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Analysts expect that Select Comfort Corp. will post $1.24 earnings per share for the current year.
In related news, EVP Andrew P. Carlin sold 3,200 shares of the 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 transaction, the executive vice president now owns 24,910 shares of the company’s stock, valued at $697,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its position in shares of Select Comfort Corp. by 11.6% in the first quarter. Legal & General Group Plc now owns 12,569 shares of the company’s stock valued at $245,000 after buying an additional 1,306 shares during the last quarter. Royce & Associates LP purchased a new position in shares of Select Comfort Corp. during the first quarter valued at about $475,000. Menta Capital LLC purchased a new position in shares of Select Comfort Corp. during the first quarter valued at about $202,000. Balter Liquid Alternatives LLC raised its position in shares of Select Comfort Corp. by 109.9% in the first quarter. Balter Liquid Alternatives LLC now owns 124,930 shares of the company’s stock valued at $2,422,000 after buying an additional 65,411 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Select Comfort Corp. during the fourth quarter valued at about $9,109,000. 98.77% of the stock is currently owned by hedge funds and other institutional investors.
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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