Tempur Sealy International, Inc. (TPX) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Tempur Sealy International, Inc. (NYSE:TPX) from a hold rating to a buy rating in a report released on Friday morning. The firm currently has $69.00 target price on the stock.
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. “
Several other research firms have also commented on TPX. Stifel Nicolaus raised Tempur Sealy International from a hold rating to a buy rating and lifted their price target for the stock from $60.00 to $80.00 in a research report on Tuesday, August 22nd. Piper Jaffray Companies set a $61.00 price target on Tempur Sealy International and gave the stock a hold rating in a research report on Thursday, July 27th. Bank of America Corporation reaffirmed a buy rating and set a $85.00 price target (up previously from $75.00) on shares of Tempur Sealy International in a research report on Wednesday, August 30th. BidaskClub raised Tempur Sealy International from a buy rating to a strong-buy rating in a research report on Monday, July 31st. Finally, Raymond James Financial, Inc. reissued a strong-buy rating and issued a $55.00 target price on shares of Tempur Sealy International in a report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $65.09.
Tempur Sealy International (NYSE:TPX) traded up 0.35% during trading on Friday, hitting $60.60. 1,252,173 shares of the stock traded hands. The company has a market cap of $3.27 billion, a P/E ratio of 17.09 and a beta of 1.64. Tempur Sealy International has a 12 month low of $39.57 and a 12 month high of $78.19. The company’s 50 day moving average price is $60.62 and its 200 day moving average price is $51.12.
Tempur Sealy International (NYSE:TPX) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. The company had revenue of $659.30 million for 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%. The firm’s revenue was down 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. On average, equities research analysts anticipate that Tempur Sealy International will post $3.29 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IHT Wealth Management LLC acquired a new position in shares of Tempur Sealy International in the second quarter worth $446,000. PNC Financial Services Group Inc. raised its holdings in shares of Tempur Sealy International by 14.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,131 shares of the company’s stock worth $100,000 after acquiring an additional 273 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tempur Sealy International by 12.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,165 shares of the company’s stock worth $116,000 after acquiring an additional 234 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Tempur Sealy International by 23.1% in the second quarter. Sei Investments Co. now owns 2,247 shares of the company’s stock worth $120,000 after acquiring an additional 421 shares during the last quarter. Finally, NEXT Financial Group Inc raised its holdings in shares of Tempur Sealy International by 9,500.0% in the second quarter. NEXT Financial Group Inc now owns 2,400 shares of the company’s stock worth $128,000 after acquiring an additional 2,375 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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