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Downgrade Alert for Select Comfort (SCSS)

By Shiri Gupta

Select Comfort (NASDAQ:SCSS) was downgraded from Neutral to Underperform at BofA/Merrill today. The stock closed yesterday at $18.99 on volume of 8.3 million shares, above average daily volume of 806,000.

Select Comfort (NASDAQ:SCSS) has potential upside of 45.9% based on a current price of $18.99 and analysts' consensus price target of $27.71. The stock should run into initial resistance at its 50-day moving average (MA) of $19.83 and subsequent resistance at its 200-day MA of $21.84.

Select Comfort Corporation designs, manufactures, and markets a line of air bed mattresses with adjustable firmness, as well as foundations and accessories. The Company's products are sold through retail stores located across the United States and through its national direct marketing operations.

In the past 52 weeks, Select Comfort share prices have been bracketed by a low of $14.28 and a high of $32.36 and closed yesterday at $18.99, 33% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.1% while the 200-day MA has slid 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Select Comfort on September 28th, 2016 by issuing a Downtrend alert when the shares were trading at $23.21. Since that call, shares of Select Comfort have fallen 7.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades select comfort

Ticker(s): SCSS