Tempur Sealy International, Inc. (TPX) Raised to “Buy” at Zacks Investment Research
Tempur Sealy International, Inc. (NYSE:TPX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $69.00 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 13.00% from the stock’s previous close.
According to Zacks, “Tempur Sealy International, Inc. is involved in the development, manufacturing and marketing of bedding products primarily in North America and internationally. It provides mattresses, adjustable bases, pillows and other sleep and relaxation products. The company’s brand portfolio includes Tempur(R), Tempur-Pedic(R), Sealy(R), Sealy Posturepedic(R), Optimum(TM) and Stearns & Foster(R). Tempur Sealy International, Inc., formerly known as Tempur-Pedic International Inc., is headquartered in Lexington, Kentucky. “
Other research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Tempur Sealy International from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. KeyCorp restated an “equal weight” rating on shares of Tempur Sealy International in a report on Thursday, April 20th. SunTrust Banks, Inc. upgraded shares of Tempur Sealy International from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Stifel Nicolaus restated a “hold” rating and set a $60.00 price objective (up previously from $47.00) on shares of Tempur Sealy International in a report on Sunday, July 30th. Finally, Piper Jaffray Companies set a $61.00 price objective on shares of Tempur Sealy International and gave the company a “hold” rating in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. Tempur Sealy International presently has a consensus rating of “Hold” and an average target price of $61.10.
Shares of Tempur Sealy International (NYSE TPX) opened at 61.06 on Friday. The stock has a market cap of $3.30 billion, a P/E ratio of 17.22 and a beta of 1.67. Tempur Sealy International has a 12 month low of $39.57 and a 12 month high of $82.32. The company has a 50 day moving average of $56.54 and a 200 day moving average of $48.87.
Tempur Sealy International (NYSE:TPX) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.05. The firm had revenue of $659.30 million during the quarter, compared to analysts’ expectations of $661.65 million. Tempur Sealy International had a net margin of 6.69% and a return on equity of 617.75%. The business’s revenue for the quarter was down 18.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 earnings per share. Equities research analysts expect that Tempur Sealy International will post $3.29 earnings per share for the current fiscal year.
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In related news, Director Usman Nabi purchased 100,000 shares of the business’s stock in a transaction on Monday, June 5th. The shares were purchased at an average price of $47.37 per share, with a total value of $4,737,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Tempur Sealy International by 15,212.6% in the first quarter. BlackRock Inc. now owns 3,784,051 shares of the company’s stock worth $175,806,000 after buying an additional 3,759,339 shares during the last quarter. Burgundy Asset Management Ltd. bought a new position in shares of Tempur Sealy International during the first quarter worth $48,591,000. Prudential Financial Inc. raised its position in shares of Tempur Sealy International by 1,821.2% in the second quarter. Prudential Financial Inc. now owns 554,027 shares of the company’s stock worth $29,579,000 after buying an additional 525,190 shares during the last quarter. State Street Corp raised its position in shares of Tempur Sealy International by 14.9% in the first quarter. State Street Corp now owns 3,602,464 shares of the company’s stock worth $167,372,000 after buying an additional 466,161 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Tempur Sealy International by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,323,574 shares of the company’s stock worth $391,005,000 after buying an additional 373,986 shares during the last quarter.
About Tempur Sealy International
Tempur Sealy International, Inc is a bedding manufacturer. The Company develops, manufactures, markets and distributes bedding products. The Company operates in two segments: North America and International. The North America segment consists of Tempur and Sealy manufacturing and distribution subsidiaries, joint ventures and licensees located in the United States and Canada.
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