Tempur Sealy International, Inc. (TPX) Upgraded by Zacks Investment Research to Buy
Tempur Sealy International, Inc. (NYSE:TPX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm presently has a $70.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 9.79% from the company’s current price.
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. “
TPX has been the subject of several other reports. Raymond James Financial, Inc. reaffirmed a “strong-buy” rating and issued a $55.00 target price on shares of Tempur Sealy International in a report on Wednesday, June 28th. Bank of America Corporation reaffirmed a “buy” rating and issued a $85.00 target price (up from $75.00) on shares of Tempur Sealy International in a report on Wednesday, August 30th. ValuEngine lowered Tempur Sealy International from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised Tempur Sealy International from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Wedbush set a $45.00 price objective on Tempur Sealy International and gave the company a “hold” rating in a report on Wednesday, May 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Tempur Sealy International has a consensus rating of “Hold” and an average target price of $65.18.
Shares of Tempur Sealy International (NYSE TPX) traded up 1.42% on Friday, hitting $63.76. The stock had a trading volume of 414,270 shares. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 17.98 and a beta of 1.64. Tempur Sealy International has a 52 week low of $39.57 and a 52 week high of $78.19. The company has a 50-day moving average of $60.83 and a 200 day moving average of $51.40.
Tempur Sealy International (NYSE:TPX) last released its earnings results on Thursday, July 27th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The company had revenue of $659.30 million during the quarter, compared to analyst estimates of $661.65 million. Tempur Sealy International had a return on equity of 617.75% and a net margin of 6.69%. Tempur Sealy International’s quarterly revenue was down 18.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. On average, equities research analysts predict that Tempur Sealy International will post $3.29 EPS for the current year.
Several large investors have recently bought and sold shares of TPX. BlackRock Inc. lifted its position in shares of Tempur Sealy International by 15,212.6% during the first quarter. BlackRock Inc. now owns 3,784,051 shares of the company’s stock worth $175,806,000 after acquiring an additional 3,759,339 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Tempur Sealy International by 1,821.2% during the second quarter. Prudential Financial Inc. now owns 554,027 shares of the company’s stock worth $29,579,000 after acquiring an additional 525,190 shares in the last quarter. State Street Corp lifted its position in shares of Tempur Sealy International by 14.9% during the first quarter. State Street Corp now owns 3,602,464 shares of the company’s stock worth $167,372,000 after acquiring an additional 466,161 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Tempur Sealy International by 5.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,323,574 shares of the company’s stock worth $391,005,000 after acquiring an additional 373,986 shares in the last quarter. Finally, Neuberger Berman Group LLC purchased a new stake in shares of Tempur Sealy International during the first quarter worth $14,268,000.
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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