Select Comfort Corporation (NASDAQ:SNBR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, November 2nd.
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 analysts have also recently issued research reports about the stock. BidaskClub raised shares of Select Comfort Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $38.00 target price on shares of Select Comfort Corporation in a report on Wednesday, July 19th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $36.00 target price on shares of Select Comfort Corporation in a report on Thursday, September 7th. Bank of America Corporation set a $33.00 price objective on shares of Select Comfort Corporation and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, KeyCorp reissued 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 stock. The stock presently has an average rating of “Hold” and an average price target of $30.67.
Select Comfort Corporation (NASDAQ:SNBR) last announced its earnings results on Tuesday, October 17th. The company reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.06). The company had revenue of $402.64 million for the quarter, compared to analysts’ expectations of $413.89 million. Select Comfort Corporation had a return on equity of 51.12% and a net margin of 4.34%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $0.56 EPS. sell-side analysts expect that Select Comfort Corporation will post 1.37 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This report was first posted by BBNS and is the property of of BBNS. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://baseballnewssource.com/markets/select-comfort-corporation-scss-downgraded-by-zacks-investment-research-to-sell/1750650.html.
In other Select Comfort Corporation news, SVP Patricia Ann Dirks sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $34.75, for a total transaction of $34,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark A. Kimball sold 8,000 shares of Select Comfort Corporation stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $32.07, for a total value of $256,560.00. Following the transaction, the senior vice president now directly owns 56,186 shares of the company’s stock, valued at approximately $1,801,885.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,560 shares of company stock worth $1,184,414. 4.00% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new position in shares of Select Comfort Corporation during the 1st quarter worth $107,000. Riverhead Capital Management LLC raised its stake in Select Comfort Corporation by 75.7% in the 2nd 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. raised its stake in Select Comfort Corporation by 395.9% in the 2nd 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 raised its stake in Select Comfort Corporation by 75.6% in the 2nd 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. Finally, First Quadrant L P CA acquired a new position in Select Comfort Corporation in the 2nd quarter valued at about $205,000.
About Select Comfort Corporation
Sleep Number Corporation, formerly 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Select Comfort Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Select Comfort Corporation and related companies with our FREE daily email newsletter.