KeyCorp Increases Tempur Sealy International (NYSE:TPX) Price Target to $100.00

Tempur Sealy International (NYSE:TPX) had its price target hoisted by investment analysts at KeyCorp from $90.00 to $100.00 in a research report issued on Friday, MarketBeat.com reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective would suggest a potential upside of 23.53% from the company’s previous close.

A number of other brokerages have also issued reports on TPX. SunTrust Banks upgraded shares of Tempur Sealy International from a “hold” rating to a “buy” rating and increased their target price for the stock from $75.00 to $100.00 in a research report on Friday. Raymond James increased their target price on shares of Tempur Sealy International from $65.00 to $90.00 and gave the stock a “strong-buy” rating in a research report on Thursday, June 18th. Wedbush increased their target price on shares of Tempur Sealy International from $55.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Loop Capital increased their target price on shares of Tempur Sealy International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Finally, Zacks Investment Research upgraded shares of Tempur Sealy International from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, June 17th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $96.70.

Shares of TPX opened at $80.95 on Friday. Tempur Sealy International has a 52 week low of $22.00 and a 52 week high of $100.39. The firm has a market cap of $4.17 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.46 and a beta of 2.11. The firm’s 50-day simple moving average is $72.27 and its 200 day simple moving average is $67.10. The company has a debt-to-equity ratio of 6.95, a quick ratio of 1.03 and a current ratio of 0.94.

Tempur Sealy International (NYSE:TPX) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.67. Tempur Sealy International had a net margin of 6.36% and a return on equity of 88.49%. The business had revenue of $665.20 million for the quarter, compared to analyst estimates of $615.27 million. During the same quarter in the prior year, the business earned $0.79 EPS. Tempur Sealy International’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, equities analysts forecast that Tempur Sealy International will post 3.59 earnings per share for the current year.

In related news, Director Arik W. Ruchim sold 106,893 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $54.98, for a total value of $5,876,977.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arik W. Ruchim sold 205,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $53.46, for a total transaction of $10,959,300.00. The disclosure for this sale can be found here. 3.14% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. State of Michigan Retirement System lifted its stake in Tempur Sealy International by 25.3% in the 2nd quarter. State of Michigan Retirement System now owns 15,782 shares of the company’s stock valued at $1,136,000 after purchasing an additional 3,182 shares during the last quarter. Sciencast Management LP raised its stake in shares of Tempur Sealy International by 187.9% during the second quarter. Sciencast Management LP now owns 21,306 shares of the company’s stock valued at $1,567,000 after acquiring an additional 13,906 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tempur Sealy International by 31.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,677 shares of the company’s stock valued at $408,000 after acquiring an additional 1,372 shares during the last quarter. JustInvest LLC bought a new position in shares of Tempur Sealy International during the second quarter valued at $254,000. Finally, Meritage Portfolio Management bought a new position in shares of Tempur Sealy International during the second quarter valued at $13,213,000. 95.55% of the stock is owned by institutional investors and hedge funds.

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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