Select Comfort Corporation (SCSS) Cut to “Sell” at Zacks Investment Research

Select Comfort Corporation (NASDAQ:SCSS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

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. “

Other equities analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Select Comfort Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Piper Jaffray Companies reiterated a “buy” rating and set a $38.00 price objective on shares of Select Comfort Corporation in a research report on Wednesday, July 19th. Stifel Nicolaus restated a “buy” rating and set a $36.00 price target on shares of Select Comfort Corporation in a report on Thursday, September 7th. Bank of America Corporation set a $33.00 price target on shares of Select Comfort Corporation and gave the company a “hold” rating in a report on Wednesday, October 18th. Finally, KeyCorp restated a “hold” rating on shares of Select Comfort Corporation in a report on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Select Comfort Corporation has an average rating of “Hold” and a consensus target price of $30.67.

Select Comfort Corporation (NASDAQ:SCSS) last posted its quarterly earnings data on Tuesday, October 17th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.06). Select Comfort Corporation had a return on equity of 51.12% and a net margin of 4.34%. The firm had revenue of $402.64 million for the quarter, compared to analysts’ expectations of $413.89 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis.

Select Comfort Corporation announced that its board has initiated a stock repurchase plan on Tuesday, October 17th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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In related news, SVP Joseph Hunter Saklad sold 5,100 shares of Select Comfort Corporation stock in a transaction on Friday, August 11th. The shares were sold at an average price of $33.24, for a total value of $169,524.00. Following the completion of the sale, the senior vice president now owns 39,550 shares of the company’s stock, valued at approximately $1,314,642. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mark A. Kimball sold 8,000 shares of Select Comfort Corporation stock in a transaction on Friday, September 1st. The shares were sold at an average price of $30.00, for a total transaction of $240,000.00. Following the completion of the sale, the senior vice president now directly owns 64,186 shares of the company’s stock, valued at approximately $1,925,580. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,100 shares of company stock valued at $767,484. 4.00% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its stake in shares of Select Comfort Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 19,986 shares of the company’s stock valued at $709,000 after purchasing an additional 52 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Select Comfort Corporation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,062 shares of the company’s stock valued at $180,000 after purchasing an additional 759 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Select Comfort Corporation by 0.3% in the 2nd quarter. Principal Financial Group Inc. now owns 327,327 shares of the company’s stock valued at $11,617,000 after purchasing an additional 874 shares during the last quarter. Capital One National Association lifted its stake in shares of Select Comfort Corporation by 2.7% in the 2nd quarter. Capital One National Association now owns 33,984 shares of the company’s stock valued at $1,206,000 after purchasing an additional 894 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Select Comfort Corporation by 2.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 62,691 shares of the company’s stock valued at $2,225,000 after purchasing an additional 1,523 shares during the last quarter.

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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