Zacks Investment Research Upgrades Tempur Sealy International (TPX) to “Buy”

Tempur Sealy International (NYSE:TPX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage currently has a $70.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.46% from the stock’s previous close.

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 recently commented on the company. Raymond James Financial reaffirmed a “buy” rating on shares of Tempur Sealy International in a research report on Thursday, December 7th. SunTrust Banks reaffirmed a “hold” rating and set a $55.00 price objective on shares of Tempur Sealy International in a research report on Friday, November 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $80.00 price objective on shares of Tempur Sealy International in a research report on Friday, November 3rd. ValuEngine cut Tempur Sealy International from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, TheStreet raised Tempur Sealy International from a “c” rating to a “b” rating in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $62.44.

Tempur Sealy International (NYSE:TPX) traded up $0.62 during trading on Thursday, hitting $63.95. The company had a trading volume of 769,189 shares, compared to its average volume of 742,507. 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 12 month low of $39.57 and a 12 month high of $68.05. The stock has a market capitalization of $3,460.00, a PE ratio of 21.32, a PEG ratio of 1.00 and a beta of 1.54.

Tempur Sealy International (NYSE:TPX) last released its quarterly earnings data on Thursday, November 2nd. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. Tempur Sealy International had a return on equity of 1,042.63% and a net margin of 5.79%. The company had revenue of $724.80 million for the quarter, compared to analysts’ expectations of $756.10 million. During the same period last year, the firm posted $1.32 earnings per share. Tempur Sealy International’s revenue was down 12.9% compared to the same quarter last year. research analysts anticipate that Tempur Sealy International will post 3.25 earnings per share for the current fiscal year.

In other news, CEO Scott L. Thompson bought 19,565 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were acquired at an average cost of $51.19 per share, with a total value of $1,001,532.35. Following the completion of the transaction, the chief executive officer now owns 245,019 shares of the company’s stock, valued at approximately $12,542,522.61. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP H Clifford Buster III bought 18,800 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was purchased at an average cost of $53.03 per share, for a total transaction 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. Company insiders own 2.10% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Greenlight Capital Inc. raised its stake in shares of 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 buying an additional 3,600,000 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of 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. Davidson Kempner Capital Management LP bought a new position in shares of Tempur Sealy International in the second quarter worth about $16,017,000. Dimensional Fund Advisors LP raised its stake in shares of Tempur Sealy International by 66.6% in the third quarter. Dimensional Fund Advisors LP now owns 686,566 shares of the company’s stock worth $44,296,000 after buying an additional 274,500 shares during the period. Finally, Balyasny Asset Management LLC raised its stake in shares of Tempur Sealy International by 1,176.6% in the second quarter. Balyasny Asset Management LLC now owns 211,563 shares of the company’s stock worth $11,295,000 after buying an additional 194,991 shares during the period.

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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.

Analyst Recommendations for Tempur Sealy International (NYSE:TPX)

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