Tempur Sealy International, Inc. (TPX) Downgraded by Zacks Investment Research to Hold

Tempur Sealy International, Inc. (NYSE:TPX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

TPX has been the topic of a number of other reports. Raymond James Financial, Inc. reissued a “strong-buy” rating and set a $55.00 target price on shares of Tempur Sealy International in a report on Wednesday, June 28th. Bank of America Corporation reaffirmed a “buy” rating and issued a $85.00 price objective (up from $75.00) on shares of Tempur Sealy International in a research note on Wednesday, August 30th. BidaskClub raised shares of Tempur Sealy International from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Piper Jaffray Companies raised shares of Tempur Sealy International from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $61.00 to $80.00 in a research note on Monday, August 14th. Finally, Stifel Nicolaus raised shares of Tempur Sealy International from a “hold” rating to a “buy” rating and upped their price objective for the company from $60.00 to $80.00 in a research note on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $65.00.

Shares of Tempur Sealy International (TPX) opened at 61.94 on Wednesday. The firm’s 50 day moving average price is $60.22 and its 200-day moving average price is $50.76. The company has a market capitalization of $3.34 billion, a P/E ratio of 17.47 and a beta of 1.64. Tempur Sealy International has a 1-year low of $39.57 and a 1-year high of $78.19.

Tempur Sealy International (NYSE:TPX) last posted its earnings results on Thursday, July 27th. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.05. Tempur Sealy International had a net margin of 6.69% and a return on equity of 617.75%. The firm had revenue of $659.30 million for the quarter, compared to analyst estimates of $661.65 million. During the same period in the previous year, the firm posted $0.92 EPS. The company’s revenue for the quarter was down 18.0% compared to the same quarter last year. Analysts expect that Tempur Sealy International will post $3.29 EPS for the current year.

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Institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC acquired a new position in shares of Tempur Sealy International during the 1st quarter valued at $14,268,000. Morgan Stanley lifted its position in shares of Tempur Sealy International by 99.6% during the 1st quarter. Morgan Stanley now owns 233,881 shares of the company’s stock valued at $10,866,000 after acquiring an additional 116,718 shares during the period. BlackRock Inc. lifted its position in shares of Tempur Sealy International by 15,212.6% during the 1st quarter. BlackRock Inc. now owns 3,784,051 shares of the company’s stock valued at $175,806,000 after acquiring an additional 3,759,339 shares during the period. ICONIQ Capital LLC lifted its position in shares of Tempur Sealy International by 26.1% during the 1st quarter. ICONIQ Capital LLC now owns 108,268 shares of the company’s stock valued at $5,030,000 after acquiring an additional 22,434 shares during the period. Finally, State Street Corp lifted its position in shares of Tempur Sealy International by 14.9% during the 1st quarter. State Street Corp now owns 3,602,464 shares of the company’s stock valued at $167,372,000 after acquiring an additional 466,161 shares during the period.

Tempur Sealy International Company Profile

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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