Tempur Sealy International, Inc. (NYSE:TPX) Sees Significant Increase in Short Interest


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Tempur Sealy International, Inc. (NYSE:TPX) was the recipient of a significant growth in short interest in the month of October. As of October 30th, there was short interest totalling 1,590,000 shares, a growth of 13.6% from the October 15th total of 1,400,000 shares. Based on an average daily volume of 628,900 shares, the days-to-cover ratio is presently 2.5 days. Approximately 3.1% of the shares of the company are short sold.

Hedge funds have recently modified their holdings of the stock. Eminence Capital LP increased its position in Tempur Sealy International by 67.2% during the 2nd quarter. Eminence Capital LP now owns 1,905,003 shares of the company’s stock worth $137,065,000 after purchasing an additional 765,718 shares during the period. Think Investments LP acquired a new stake in shares of Tempur Sealy International during the second quarter valued at approximately $21,384,000. Nuveen Asset Management LLC lifted its position in shares of Tempur Sealy International by 33.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,028,512 shares of the company’s stock valued at $74,001,000 after acquiring an additional 256,486 shares in the last quarter. Balyasny Asset Management LLC acquired a new position in Tempur Sealy International in the 2nd quarter worth approximately $18,201,000. Finally, Victory Capital Management Inc. grew its position in Tempur Sealy International by 2,300.5% during the 3rd quarter. Victory Capital Management Inc. now owns 257,427 shares of the company’s stock worth $22,961,000 after purchasing an additional 246,703 shares in the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.

Several brokerages recently weighed in on TPX. Bank of America increased their price target on shares of Tempur Sealy International from $120.00 to $130.00 in a report on Monday, September 14th. Loop Capital raised their price objective on shares of Tempur Sealy International from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. ValuEngine lowered shares of Tempur Sealy International from a “hold” rating to a “sell” rating in a report on Thursday, October 8th. Raymond James increased their price target on shares of Tempur Sealy International from $100.00 to $115.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 16th. Finally, Truist lifted their price objective on shares of Tempur Sealy International from $100.00 to $115.00 in a report on Tuesday, September 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $109.09.

Tempur Sealy International stock traded up $0.30 during trading on Friday, hitting $102.52. The company had a trading volume of 582,121 shares, compared to its average volume of 965,872. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 0.61 and a beta of 2.08. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 6.00. Tempur Sealy International has a 1-year low of $22.00 and a 1-year high of $103.04. The company’s 50 day simple moving average is $91.86 and its 200-day simple moving average is $79.33.

Tempur Sealy International shares are set to split on Tuesday, November 24th. The 4-1 split was announced on Thursday, October 29th. The newly issued shares will be issued to shareholders after the closing bell on Monday, November 23rd.

Tempur Sealy International (NYSE:TPX) last posted its quarterly earnings data on Thursday, October 29th. The company reported $2.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.74. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.07 billion. Tempur Sealy International had a return on equity of 88.49% and a net margin of 6.36%. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 EPS. As a group, analysts forecast that Tempur Sealy International will post 5.85 earnings per share for the current fiscal year.

Tempur Sealy International Company Profile

Tempur Sealy International, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes bedding products in the United States, Canada, and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the TEMPUR, Tempur-Pedic, Sealy, Comfort Revolution, and Stearns & Foster brands.

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