Select Comfort Corporation (SCSS) PT Set at $38.00 by Piper Jaffray Companies

Select Comfort Corporation (NASDAQ:SCSS) has been given a $38.00 price target by equities researchers at Piper Jaffray Companies in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 24.88% from the company’s current price.

SCSS has been the topic of several other reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $36.00 price target (up from $32.00) on shares of Select Comfort Corporation in a research report on Tuesday, July 18th. UBS AG reaffirmed a “sell” rating and set a $17.00 price target (up from $16.00) on shares of Select Comfort Corporation in a research report on Friday, July 21st. Zacks Investment Research lowered shares of Select Comfort Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Raymond James Financial, Inc. raised shares of Select Comfort Corporation from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research report on Monday, October 2nd. Finally, Bank of America Corporation raised shares of Select Comfort Corporation from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $21.50 to $35.00 in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $31.00.

Select Comfort Corporation (NASDAQ:SCSS) last posted its quarterly earnings results on Monday, July 17th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.07). Select Comfort Corporation had a return on equity of 44.91% and a net margin of 4.46%. The firm had revenue of $284.70 million for the quarter, compared to the consensus estimate of $300.21 million. During the same period last year, the company posted $0.03 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year.

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In other Select Comfort Corporation news, Director Brenda J. Lauderback sold 18,500 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $32.65, for a total value of $604,025.00. Following the transaction, the director now directly owns 41,790 shares in the company, valued at $1,364,443.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mark A. Kimball sold 8,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $34.06, for a total transaction of $272,480.00. Following the completion of the transaction, the senior vice president now owns 72,186 shares in the company, valued at $2,458,655.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,600 shares of company stock worth $1,542,589. Corporate insiders own 4.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC increased its holdings in shares of Select Comfort Corporation by 75.7% in the second quarter. Riverhead Capital Management LLC now owns 3,865 shares of the company’s stock valued at $137,000 after purchasing an additional 1,665 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Select Comfort Corporation by 395.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,913 shares of the company’s stock valued at $139,000 after purchasing an additional 3,124 shares during the last quarter. Flinton Capital Management LLC increased its holdings in shares of Select Comfort Corporation by 75.6% in the second quarter. Flinton Capital Management LLC now owns 4,228 shares of the company’s stock valued at $150,000 after purchasing an additional 1,820 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Select Comfort Corporation in the first quarter valued at $107,000. Finally, First Quadrant L P CA acquired a new position in shares of Select Comfort Corporation in the second quarter valued at $205,000.

Select Comfort Corporation Company Profile

Select Comfort Corporation is a designer, manufacturer, marketer, retailer and servicer of a line of Sleep Number beds. The Company offers consumers individualized sleep solutions and services, which include a complete line of Sleep Number beds, bases and bedding accessories. Its Sleep Number bed offers SleepIQ technology sensors that work directly with the bed’s DualAir technology to track each individual’s sleep.

Analyst Recommendations for Select Comfort Corporation (NASDAQ:SCSS)

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