Select Comfort Corporation (NASDAQ:SCSS) Upgraded at Bank of America Corporation

Bank of America Corporation upgraded shares of Select Comfort Corporation (NASDAQ:SCSS) from an underperform rating to a neutral rating in a report released on Wednesday morning, Marketbeat.com reports. They currently have $35.00 price objective on the stock, up from their prior price objective of $21.50.

Other analysts have also issued research reports about the stock. Stifel Nicolaus reaffirmed a buy rating and set a $36.00 price objective (up previously from $32.00) on shares of Select Comfort Corporation in a report on Tuesday. BidaskClub raised shares of Select Comfort Corporation from a hold rating to a buy rating in a report on Tuesday, June 13th. Piper Jaffray Companies set a $37.00 price target on shares of Select Comfort Corporation and gave the company a buy rating in a report on Saturday, June 10th. Zacks Investment Research raised shares of Select Comfort Corporation from a hold rating to a buy rating and set a $37.00 price target for the company in a report on Saturday, April 22nd. Finally, Raymond James Financial, Inc. lowered shares of Select Comfort Corporation from a strong-buy rating to a market perform rating in a report on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Select Comfort Corporation presently has a consensus rating of Hold and an average target price of $31.33.

Shares of Select Comfort Corporation (NASDAQ SCSS) traded down 1.11% during trading on Wednesday, hitting $32.15. The stock had a trading volume of 893,786 shares. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 23.47 and a beta of 0.69. Select Comfort Corporation has a one year low of $17.95 and a one year high of $36.74. The stock’s 50-day moving average price is $31.95 and its 200 day moving average price is $26.74.

Select Comfort Corporation (NASDAQ:SCSS) last posted its quarterly earnings data on Monday, July 17th. The company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.07. The firm had revenue of $284.70 million for the quarter, compared to analyst estimates of $300.21 million. Select Comfort Corporation had a return on equity of 44.91% and a net margin of 4.46%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. On average, equities analysts forecast that Select Comfort Corporation will post $1.38 EPS for the current year.

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In related news, insider Shelly Radue Ibach sold 79,844 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $31.13, for a total value of $2,485,543.72. Following the completion of the sale, the insider now owns 14,000 shares of the company’s stock, valued at $435,820. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew P. Carlin sold 14,500 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $31.63, for a total transaction of $458,635.00. Following the completion of the sale, the executive vice president now directly owns 43,546 shares of the company’s stock, valued at approximately $1,377,359.98. The disclosure for this sale can be found here. In the last three months, insiders sold 181,076 shares of company stock valued at $5,690,607. 4.00% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. Legato Capital Management LLC raised its stake in shares of Select Comfort Corporation by 890.2% in the second quarter. Legato Capital Management LLC now owns 40,143 shares of the company’s stock worth $1,425,000 after buying an additional 36,089 shares in the last quarter. First Quadrant L P CA bought a new stake in shares of Select Comfort Corporation during the second quarter worth $205,000. Aperio Group LLC raised its stake in shares of Select Comfort Corporation by 20.3% in the second quarter. Aperio Group LLC now owns 12,094 shares of the company’s stock worth $429,000 after buying an additional 2,039 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Select Comfort Corporation by 1,196.5% in the second quarter. Meeder Asset Management Inc. now owns 6,288 shares of the company’s stock worth $223,000 after buying an additional 5,803 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Select Comfort Corporation by 73.5% in the second quarter. State of Alaska Department of Revenue now owns 8,225 shares of the company’s stock worth $291,000 after buying an additional 3,485 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

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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