Tempur Sealy International, Inc. (TPX) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Tempur Sealy International, Inc. (NYSE:TPX) from a hold rating to a buy rating in a research report sent to investors on Friday. Zacks Investment Research currently has $70.00 price target 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 equities research analysts have also issued reports on the stock. Bank of America Corporation restated a buy rating and issued a $85.00 target price (up previously from $75.00) on shares of Tempur Sealy International in a report on Wednesday, August 30th. Stifel Nicolaus upgraded shares of Tempur Sealy International from a hold rating to a buy rating and raised their target price for the stock from $60.00 to $80.00 in a report on Tuesday, August 22nd. Piper Jaffray Companies upgraded shares of Tempur Sealy International from a neutral rating to an overweight rating and raised their target price for the stock from $61.00 to $80.00 in a report on Monday, August 14th. BidaskClub upgraded shares of Tempur Sealy International from a buy rating to a strong-buy rating in a report on Monday, July 31st. Finally, Raymond James Financial, Inc. restated 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 equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Tempur Sealy International currently has a consensus rating of Hold and an average price target of $65.18.
Tempur Sealy International (NYSE TPX) opened at 63.76 on Friday. The company has a 50-day moving average of $60.83 and a 200-day moving average of $51.40. The stock has a market cap of $3.44 billion, a PE ratio of 17.98 and a beta of 1.64. Tempur Sealy International has a 12 month low of $39.57 and a 12 month high of $77.60.
Tempur Sealy International (NYSE:TPX) last released its earnings results on Thursday, July 27th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 net margin of 6.69% and a return on equity of 617.75%. The business’s revenue was down 18.0% on a year-over-year basis. During the same quarter last year, the business earned $0.92 EPS. On average, equities analysts forecast that Tempur Sealy International will post $3.29 EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of TPX. BlackRock Inc. increased its stake in Tempur Sealy International by 15,212.6% in the 1st 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. Prudential Financial Inc. increased its stake in Tempur Sealy International by 1,821.2% in the 2nd 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 stake in Tempur Sealy International by 14.9% in the 1st 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. The Manufacturers Life Insurance Company increased its stake in Tempur Sealy International by 5.4% in the 2nd 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. Finally, Neuberger Berman Group LLC purchased a new position in Tempur Sealy International in the 1st quarter worth about $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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