Tempur Sealy International (NYSE:TPX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Tempur Sealy International (NYSE:TPX) from a buy rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

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. ValuEngine raised shares of Tempur Sealy International from a sell rating to a hold rating in a report on Thursday. 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. KeyCorp upped 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. Wedbush reaffirmed an outperform rating and issued a $83.00 price target on shares of Tempur Sealy International in a report on Thursday, July 18th. Finally, Raymond James set a $95.00 price target on shares of Tempur Sealy International and gave the company a buy rating in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Tempur Sealy International has a consensus rating of Buy and an average price target of $83.42.

Shares of TPX opened at $82.70 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 5.79. The firm’s 50-day moving average is $76.48 and its two-hundred day moving average is $71.21. Tempur Sealy International has a twelve month low of $38.90 and a twelve month high of $84.38. The firm has a market capitalization of $4.53 billion, a P/E ratio of 27.94 and a beta of 1.67.

Tempur Sealy International (NYSE:TPX) last issued its earnings results on Thursday, July 25th. The company reported $0.79 earnings per share for the quarter, topping 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 company had revenue of $722.80 million for the quarter, compared to analyst estimates of $723.28 million. During the same period in the prior year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts predict that Tempur Sealy International will post 3.49 EPS for the current year.

In related news, CFO Bhaskar Rao sold 2,215 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $76.73, for a total transaction of $169,956.95. Following the transaction, the chief financial officer now owns 21,216 shares of the company’s stock, valued at $1,627,903.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Montgomery sold 36,082 shares of the company’s 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 transaction, the executive vice president now directly owns 324,731 shares in the company, valued at approximately $26,079,146.61. The disclosure for this sale can be found here. Insiders have sold 103,931 shares of company stock worth $8,239,148 in the last three months. Insiders own 3.23% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. purchased a new position in shares of Tempur Sealy International during the third quarter valued at approximately $63,000. Shine Investment Advisory Services Inc. lifted its stake in shares of Tempur Sealy International by 26.6% during the second quarter. Shine Investment Advisory Services Inc. now owns 913 shares of the company’s stock valued at $67,000 after buying an additional 192 shares during the period. NEXT Financial Group Inc lifted its stake in shares of Tempur Sealy International by 1,356.1% during the second quarter. NEXT Financial Group Inc now owns 961 shares of the company’s stock valued at $71,000 after buying an additional 895 shares during the period. Ropes Wealth Advisors LLC purchased a new position in shares of Tempur Sealy International during the second quarter valued at approximately $73,000. Finally, Advisory Services Network LLC purchased a new position in shares of Tempur Sealy International during the second quarter valued at approximately $163,000.

About Tempur Sealy International

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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