Tempur Sealy International (TPX) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Tempur Sealy International (NYSE:TPX) from a hold rating to a buy rating in a research note issued to investors on Friday morning. They currently have $72.00 price objective 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. “
Other equities research analysts have also recently issued research reports about the stock. TheStreet raised shares of Tempur Sealy International from a c rating to a b rating in a report on Thursday, November 2nd. Stifel Nicolaus reissued a buy rating and set a $80.00 target price on shares of Tempur Sealy International in a report on Friday, November 3rd. ValuEngine raised shares of Tempur Sealy International from a hold rating to a buy rating in a report on Saturday, September 30th. Raymond James Financial reissued a buy rating on shares of Tempur Sealy International in a report on Thursday, December 7th. Finally, Wedbush reissued a hold rating on shares of Tempur Sealy International in a report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $62.67.
Shares of Tempur Sealy International (TPX) traded down $0.51 during mid-day trading on Friday, reaching $62.45. 467,500 shares of the company’s stock were exchanged, compared to its average volume of 577,500. The company has a debt-to-equity ratio of 20.03, a current ratio of 1.08 and a quick ratio of 0.77. Tempur Sealy International has a 1-year low of $39.57 and a 1-year high of $70.09. The company has a market cap of $3,383.58, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.07 and a beta of 1.54.
Tempur Sealy International (NYSE:TPX) last issued its earnings results on Thursday, November 2nd. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Tempur Sealy International had a net margin of 5.79% and a return on equity of 1,042.63%. The business had revenue of $724.80 million for the quarter, compared to analysts’ expectations of $756.10 million. During the same quarter in the previous year, the firm posted $1.32 EPS. The business’s revenue for the quarter was down 12.9% compared to the same quarter last year. analysts forecast that Tempur Sealy International will post 3.25 EPS for the current fiscal year.
In other news, EVP Richard W. Anderson sold 24,345 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $64.99, for a total transaction of $1,582,181.55. Following the completion of the transaction, the executive vice president now directly owns 78,236 shares in the company, valued at approximately $5,084,557.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP H Clifford Buster III bought 18,800 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was bought at an average price of $53.03 per share, with a total value of $996,964.00. Following the completion of the transaction, the executive vice president now directly owns 18,800 shares of the company’s stock, valued at approximately $996,964. The disclosure for this purchase can be found here. 2.10% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Greenlight Capital Inc. grew its position in Tempur Sealy International by 900.0% in the third quarter. Greenlight Capital Inc. now owns 4,000,000 shares of the company’s stock worth $258,080,000 after acquiring an additional 3,600,000 shares in the last quarter. Sterling Capital Management LLC grew its position in Tempur Sealy International by 10.6% in the third quarter. Sterling Capital Management LLC now owns 56,095 shares of the company’s stock worth $3,619,000 after acquiring an additional 5,395 shares in the last quarter. Colony Group LLC purchased a new position in Tempur Sealy International in the third quarter worth $1,592,000. California Public Employees Retirement System grew its position in Tempur Sealy International by 5.7% in the third quarter. California Public Employees Retirement System now owns 135,580 shares of the company’s stock worth $8,748,000 after acquiring an additional 7,280 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Tempur Sealy International by 5,079.0% in the third quarter. Cubist Systematic Strategies LLC now owns 5,438 shares of the company’s stock worth $351,000 after acquiring an additional 5,333 shares in 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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