Tempur Sealy International’s (TPX) Buy Rating Reaffirmed at Bank of America Corporation
Bank of America Corporation restated their buy rating on shares of Tempur Sealy International, Inc. (NYSE:TPX) in a report published on Wednesday. They currently have a $85.00 price objective on the stock, up from their prior price objective of $75.00.
TPX has been the subject of a number of other research reports. Raymond James Financial, Inc. reissued a strong-buy rating and set a $55.00 price objective on shares of Tempur Sealy International in a research note on Wednesday, June 28th. Tigress Financial lowered Tempur Sealy International from a buy rating to a neutral rating in a research note on Thursday, May 18th. ValuEngine lowered Tempur Sealy International from a buy rating to a hold rating in a research note on Friday, June 2nd. Wedbush set a $45.00 price target on Tempur Sealy International and gave the stock a hold rating in a research note on Wednesday, May 31st. Finally, BidaskClub raised Tempur Sealy International from a hold rating to a buy rating in a research note on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $65.09.
Shares of Tempur Sealy International (NYSE TPX) opened at 61.33 on Wednesday. Tempur Sealy International has a 1-year low of $39.57 and a 1-year high of $82.32. The company’s 50 day moving average is $57.85 and its 200-day moving average is $49.61. The company has a market capitalization of $3.31 billion, a P/E ratio of 17.30 and a beta of 1.67.
Tempur Sealy International (NYSE:TPX) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $659.30 million during 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 business’s quarterly revenue was down 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 earnings per share. On average, equities research analysts forecast that Tempur Sealy International will post $3.30 EPS for the current year.
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In other news, Director Usman Nabi acquired 100,000 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was acquired at an average price of $47.37 per share, for a total transaction of $4,737,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased 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 worth $175,806,000 after buying an additional 3,759,339 shares during the period. Burgundy Asset Management Ltd. purchased a new position in Tempur Sealy International during the first quarter worth about $48,591,000. Prudential Financial Inc. increased 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 worth $29,579,000 after buying an additional 525,190 shares during the period. State Street Corp increased 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 worth $167,372,000 after buying an additional 466,161 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Tempur Sealy International by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,323,574 shares of the company’s stock worth $391,005,000 after buying an additional 373,986 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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