Select Comfort Corporation (SNBR) Cut to Sell at Zacks Investment Research

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.

Shares of Select Comfort Corporation (SNBR) traded up $0.37 on Thursday, hitting $34.90. 526,979 shares of the company were exchanged, compared to its average volume of 999,799. Select Comfort Corporation has a 12-month low of $18.89 and a 12-month high of $36.74. The stock has a market capitalization of $1,370.00, a price-to-earnings ratio of 22.42, a P/E/G ratio of 1.39 and a beta of 0.59.

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.

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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.

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