Tempur Sealy International (NYSE:TPX) Raised to Buy at Zacks Investment Research

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Tempur Sealy International (NYSE:TPX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The brokerage currently has a $87.00 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.37% 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. “

Several other brokerages also recently issued reports on TPX. Piper Jaffray Companies set a $92.00 price target on shares of Tempur Sealy International and gave the company a “buy” rating in a report on Friday, July 26th. KeyCorp lifted their price target on shares of Tempur Sealy International from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, July 26th. UBS Group set a $85.00 price target on shares of Tempur Sealy International and gave the company a “hold” rating in a report on Friday, July 26th. Wedbush reissued an “outperform” rating and set a $83.00 price target on shares of Tempur Sealy International in a report on Thursday, July 18th. Finally, Loop Capital raised shares of Tempur Sealy International from a “sell” rating to a “hold” rating and set a $70.00 price target for the company in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Tempur Sealy International currently has a consensus rating of “Buy” and a consensus target price of $83.42.

TPX stock traded up $0.50 during trading on Tuesday, hitting $78.83. 286,454 shares of the stock traded hands, compared to its average volume of 674,772. Tempur Sealy International has a one year low of $38.90 and a one year high of $81.85. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 26.63 and a beta of 1.67. The company has a 50 day simple moving average of $76.08 and a 200 day simple moving average of $70.75. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 5.79.

Tempur Sealy International (NYSE:TPX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.11. Tempur Sealy International had a net margin of 4.42% and a return on equity of 72.95%. The firm had revenue of $722.80 million during the quarter, compared to the consensus estimate of $723.28 million. During the same period last year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, analysts predict that Tempur Sealy International will post 3.49 earnings per share for the current fiscal year.

In other news, EVP David Montgomery sold 36,082 shares of Tempur Sealy International stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $80.31, for a total transaction of $2,897,745.42. Following the completion of the sale, the executive vice president now owns 324,731 shares in the company, valued at approximately $26,079,146.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Evelyn S. Dilsaver sold 397 shares of Tempur Sealy International stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $77.32, for a total transaction of $30,696.04. Following the sale, the director now owns 24,666 shares of the company’s stock, valued at approximately $1,907,175.12. The disclosure for this sale can be found here. Insiders sold a total of 93,791 shares of company stock valued at $7,438,205 in the last 90 days. Corporate insiders own 3.23% of the company’s stock.

Large investors have recently modified their holdings of the company. Shine Investment Advisory Services Inc. grew its position in shares of Tempur Sealy International by 26.6% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 913 shares of the company’s stock worth $67,000 after buying an additional 192 shares during the period. NEXT Financial Group Inc boosted its stake in Tempur Sealy International by 1,356.1% during the 2nd quarter. NEXT Financial Group Inc now owns 961 shares of the company’s stock worth $71,000 after acquiring an additional 895 shares during the last quarter. Ropes Wealth Advisors LLC bought a new position in Tempur Sealy International during the 2nd quarter worth approximately $73,000. Advisory Services Network LLC bought a new position in Tempur Sealy International during the 2nd quarter worth approximately $163,000. Finally, USA Financial Portformulas Corp boosted its stake in Tempur Sealy International by 50.4% during the 2nd quarter. USA Financial Portformulas Corp now owns 3,177 shares of the company’s stock worth $183,000 after acquiring an additional 1,065 shares during the last quarter.

Tempur Sealy International Company Profile

Tempur Sealy International, Inc develops, manufactures, markets and distributes bedding products. It operates through North America and International segments. The North America segment consists of Tempur and Sealy manufacturing and distribution subsidiaries, joint ventures and licensees located in the U.S.

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Analyst Recommendations for Tempur Sealy International (NYSE:TPX)

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