Zacks Investment Research Lowers Tempur Sealy International (TPX) to Hold

Tempur Sealy International (NYSE:TPX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday.

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 analysts have also recently issued reports about the stock. TheStreet raised shares of Tempur Sealy International from a “c” rating to a “b” rating in a research note on Thursday, November 2nd. Stifel Nicolaus reissued a “buy” rating and set a $80.00 price target on shares of Tempur Sealy International in a research note on Friday, November 3rd. ValuEngine raised shares of Tempur Sealy International from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Raymond James Financial reissued a “buy” rating on shares of Tempur Sealy International in a research note on Thursday, December 7th. Finally, Wedbush reissued a “hold” rating on shares of Tempur Sealy International in a research note on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $62.67.

Shares of Tempur Sealy International (TPX) opened at $62.45 on Friday. Tempur Sealy International has a 52 week low of $39.57 and a 52 week high of $70.09. The company has a debt-to-equity ratio of 20.03, a quick ratio of 0.77 and a current ratio of 1.08. The company has a market cap of $3,380.00, a P/E ratio of 20.82, a PEG ratio of 1.09 and a beta of 1.54.

Tempur Sealy International (NYSE:TPX) last released its quarterly earnings results on Thursday, November 2nd. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.03. Tempur Sealy International had a net margin of 5.79% and a return on equity of 1,042.63%. The business had revenue of $724.80 million for the quarter, compared to analysts’ expectations of $756.10 million. During the same period in the prior year, the firm earned $1.32 earnings per share. Tempur Sealy International’s revenue was down 12.9% compared to the same quarter last year. analysts anticipate that Tempur Sealy International will post 3.25 EPS for the current fiscal year.

In other Tempur Sealy International news, CEO Scott L. Thompson acquired 19,565 shares of Tempur Sealy International stock in a transaction on Tuesday, November 7th. The shares were purchased at an average cost of $51.19 per share, with a total value of $1,001,532.35. Following the completion of the purchase, the chief executive officer now owns 245,019 shares in the company, valued at $12,542,522.61. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Richard W. Anderson sold 24,345 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $64.99, for a total transaction of $1,582,181.55. Following the completion of the transaction, the executive vice president now directly owns 78,236 shares in the company, valued at $5,084,557.64. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in TPX. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tempur Sealy International by 12.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,165 shares of the company’s stock valued at $116,000 after acquiring an additional 234 shares during the last quarter. Sei Investments Co. boosted its position in shares of Tempur Sealy International by 23.1% during the second quarter. Sei Investments Co. now owns 2,247 shares of the company’s stock worth $120,000 after purchasing an additional 421 shares in the last quarter. Capital Guardian Trust Co. bought a new position in shares of Tempur Sealy International during the third quarter worth $132,000. Shelton Capital Management bought a new position in shares of Tempur Sealy International during the second quarter worth $201,000. Finally, World Asset Management Inc bought a new position in shares of Tempur Sealy International during the third quarter worth $202,000.

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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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