Tempur Sealy International, Inc. (TPX) Bonds Trading 2% Lower
An issue of Tempur Sealy International, Inc. (NYSE:TPX) debt fell 2% as a percentage of its face value during trading on Friday. The debt issue has a 5.5% coupon and is set to mature on June 15, 2026. The debt is now trading at $103.00 and was trading at $103.50 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.
Several equities research analysts recently commented on TPX shares. Raymond James Financial, Inc. raised shares of Tempur Sealy International from an “outperform” rating to a “strong-buy” rating and set a $53.00 price target for the company in a report on Wednesday, April 19th. Zacks Investment Research raised shares of Tempur Sealy International from a “hold” rating to a “strong-buy” rating and set a $47.00 price target for the company in a report on Wednesday, April 19th. Stifel Nicolaus reissued a “hold” rating and issued a $47.00 price target on shares of Tempur Sealy International in a report on Wednesday, April 19th. KeyCorp reissued an “equal weight” rating on shares of Tempur Sealy International in a report on Thursday, April 20th. Finally, SunTrust Banks, Inc. raised shares of Tempur Sealy International from a “sell” rating to a “hold” rating and set a $43.00 target price on the stock in a research note on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $58.80.
Tempur Sealy International, Inc. (NYSE TPX) traded up 1.55% during mid-day trading on Friday, hitting $60.14. 486,658 shares of the company were exchanged. The firm has a 50 day moving average price of $55.03 and a 200 day moving average price of $49.01. Tempur Sealy International, Inc. has a 12 month low of $39.57 and a 12 month high of $82.32. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 16.96 and a beta of 1.67.
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 firm 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%. Tempur Sealy International’s revenue for the quarter was down 18.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 EPS. Analysts anticipate that Tempur Sealy International, Inc. will post $3.29 EPS for the current fiscal year.
In related news, Director Usman Nabi purchased 100,000 shares of Tempur Sealy International stock in a transaction that occurred on Monday, June 5th. The shares were purchased at an average cost of $47.37 per share, with a total value of $4,737,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Rehan Jaffer purchased 640,000 shares of Tempur Sealy International stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average cost of $47.68 per share, for a total transaction of $30,515,200.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 892,750 shares of company stock worth $42,285,438 over the last three months. 2.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Tempur Sealy International by 15,212.6% in the first quarter. BlackRock Inc. now owns 3,784,051 shares of the company’s stock valued at $175,806,000 after buying an additional 3,759,339 shares during the period. Burgundy Asset Management Ltd. bought a new position in Tempur Sealy International during the first quarter valued at approximately $48,591,000. Prudential Financial Inc. raised its position in Tempur Sealy International by 1,821.2% in the second quarter. Prudential Financial Inc. now owns 554,027 shares of the company’s stock valued at $29,579,000 after buying an additional 525,190 shares during the period. State Street Corp raised its position in Tempur Sealy International by 14.9% in the first quarter. State Street Corp now owns 3,602,464 shares of the company’s stock valued at $167,372,000 after buying an additional 466,161 shares during the period. Finally, Neuberger Berman Group LLC bought a new position in Tempur Sealy International during the first quarter valued at approximately $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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