Select Comfort Corporation Shares Pop On Excellent Q1 Results

Select Comfort Corporation (SCSS), a company that designs, manufactures, markets, retails sleep number beds yesterday reported their first quarter 2017 financial results.

Select Comfort reported first-quarter earnings of $0.56 per share which beat analyst expectations of $0.46 per share. Select Comfort reported first quarter revenues of $393.9 million which beat analyst expectations of $370.2 million.  

Select Comfort Corporation CEO’s Comments

“Consumers are responding enthusiastically to our brand and differentiated products. Our investments over the past few years have made us a stronger competitor and this is evident in our first quarter results,” said Shelly Ibach, President and CEO of Select Comfort. “In the second quarter, we will begin the phased introduction of the revolutionary Sleep Number 360 smart beds. This innovation will set a new standard for what people should expect from their bed.”  Business Wire

SCSS Technical Analysis

(Click on image to enlarge)

Select Comfort Corporation

SCSS opened trading yesterday at $25.01 which was down from the previous day’s trading close of $25.03. SCSS closed trading yesterday at $25.87 and spiked up after-market to $29.29, equivalent to a 13% increase from the closing price. Taking a look at the daily chart we can see that the last time SCSS traded above these levels we have to go back to July 16th, 2015 when it traded at $30.35.

Taking a closer look at the daily chart we can see that before the spike up SCSS had already been in an overall upward trend dating back to February 7th when it traded at $19.53. SCSS has a float of 42 million shares and traded 1.85 times the normal daily trading volume on Wednesday.

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