Tempur Sealy International, Inc. (TPX) Upgraded to Buy by Zacks Investment Research
Tempur Sealy International, Inc. (NYSE:TPX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $69.00 price objective on the stock. Zacks Investment Research‘s target price points to a potential upside of 11.47% from the stock’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 topic of a number of other research reports. Raymond James Financial, Inc. reiterated a “strong-buy” rating and issued a $55.00 price target on shares of Tempur Sealy International in a research note on Wednesday, June 28th. Tigress Financial downgraded shares of Tempur Sealy International from a “buy” rating to a “neutral” rating in a report on Thursday, May 18th. ValuEngine downgraded shares of Tempur Sealy International from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Stifel Nicolaus raised shares of Tempur Sealy International from a “hold” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $80.00 in a report on Tuesday, August 22nd. Finally, Wedbush set a $45.00 price objective on shares of Tempur Sealy International and gave the company a “hold” rating in a report on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Tempur Sealy International currently has a consensus rating of “Hold” and an average target price of $65.09.
Shares of Tempur Sealy International (NYSE TPX) opened at 61.90 on Friday. The company has a 50 day moving average of $58.98 and a 200 day moving average of $50.09. Tempur Sealy International has a 1-year low of $39.57 and a 1-year high of $82.32. The company has a market cap of $3.34 billion, a PE ratio of 17.46 and a beta of 1.67.
Tempur Sealy International (NYSE:TPX) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.05. Tempur Sealy International had a net margin of 6.69% and a return on equity of 617.75%. The business had revenue of $659.30 million for the quarter, compared to analyst estimates of $661.65 million. During the same quarter in the prior year, the business earned $0.92 EPS. Tempur Sealy International’s quarterly revenue was down 18.0% on a year-over-year basis. Equities analysts expect that Tempur Sealy International will post $3.28 earnings per share for the current fiscal year.
In other Tempur Sealy International news, Director Usman Nabi purchased 100,000 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was purchased at an average cost of $47.37 per share, for a total transaction of $4,737,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Neuberger Berman Group LLC purchased a new stake in Tempur Sealy International during the first quarter valued at $14,268,000. Morgan Stanley boosted its stake in Tempur Sealy International by 99.6% in the first quarter. Morgan Stanley now owns 233,881 shares of the company’s stock valued at $10,866,000 after buying an additional 116,718 shares during the period. BlackRock Inc. boosted its stake 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. ICONIQ Capital LLC boosted its stake in Tempur Sealy International by 26.1% in the first quarter. ICONIQ Capital LLC now owns 108,268 shares of the company’s stock valued at $5,030,000 after buying an additional 22,434 shares during the period. Finally, State Street Corp boosted its stake 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.
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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