Tempur Sealy International (NYSE:TPX) Reaches New 52-Week High After Analyst Upgrade

Shares of Tempur Sealy International, Inc. (NYSE:TPX) reached a new 52-week high during mid-day trading on Tuesday after UBS Group raised their price target on the stock from $67.00 to $78.00. UBS Group currently has a buy rating on the stock. Tempur Sealy International traded as high as $68.53 and last traded at $66.73, with a volume of 8483001 shares. The stock had previously closed at $63.14.

A number of other equities analysts also recently weighed in on the stock. KeyCorp raised their target price on shares of Tempur Sealy International from $62.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Raymond James cut their price target on shares of Tempur Sealy International from $57.00 to $55.00 and set a “strong-buy” rating on the stock in a report on Friday, November 1st. Piper Sandler increased their price target on shares of Tempur Sealy International from $65.00 to $76.00 and gave the company an “overweight” rating in a report on Monday. Bank of America increased their price target on shares of Tempur Sealy International from $60.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Wedbush reiterated an “outperform” rating and set a $80.00 price target (up previously from $67.00) on shares of Tempur Sealy International in a report on Monday. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $70.75.

Institutional Investors Weigh In On Tempur Sealy International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its position in Tempur Sealy International by 750.9% in the third quarter. UMB Bank n.a. now owns 468 shares of the company’s stock worth $26,000 after acquiring an additional 413 shares during the period. Brooklyn Investment Group bought a new position in Tempur Sealy International in the third quarter worth approximately $27,000. Versant Capital Management Inc raised its position in Tempur Sealy International by 365.2% in the fourth quarter. Versant Capital Management Inc now owns 614 shares of the company’s stock worth $35,000 after acquiring an additional 482 shares during the period. Truvestments Capital LLC bought a new position in Tempur Sealy International in the third quarter worth approximately $48,000. Finally, Global Retirement Partners LLC raised its position in Tempur Sealy International by 123.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $60,000 after acquiring an additional 584 shares during the period. Hedge funds and other institutional investors own 99.86% of the company’s stock.

Tempur Sealy International Stock Up 5.7 %

The company has a debt-to-equity ratio of 3.95, a current ratio of 1.14 and a quick ratio of 0.65. The firm has a market capitalization of $11.59 billion, a P/E ratio of 30.47, a P/E/G ratio of 2.02 and a beta of 1.64. The company’s 50-day simple moving average is $57.34 and its two-hundred day simple moving average is $53.58.

Tempur Sealy International (NYSE:TPX) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. Tempur Sealy International had a net margin of 7.96% and a return on equity of 108.66%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the firm earned $0.77 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, research analysts expect that Tempur Sealy International, Inc. will post 2.52 earnings per share for the current year.

Tempur Sealy International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st were given a dividend of $0.13 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.52 annualized dividend and a dividend yield of 0.78%. Tempur Sealy International’s payout ratio is 23.74%.

About Tempur Sealy International

Tempur Sealy International, Inc, together with its subsidiaries, designs, manufactures, distributes, and retails bedding products in the United States and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the Tempur-Pedic, Sealy, Stearns & Foster, Sealy, and Cocoon by Sealy brand names.