Tempur Sealy International (NYSE:TPX) Shares Gap Up Following Analyst Upgrade

Tempur Sealy International, Inc. (NYSE:TPX)’s share price gapped up before the market opened on Monday after UBS Group raised their price target on the stock from $67.00 to $78.00. The stock had previously closed at $63.14, but opened at $65.63. UBS Group currently has a buy rating on the stock. Tempur Sealy International shares last traded at $66.07, with a volume of 2,205,919 shares trading hands.

A number of other research firms have also recently issued reports on TPX. Raymond James decreased their target price on Tempur Sealy International from $57.00 to $55.00 and set a “strong-buy” rating for the company in a research note on Friday, November 1st. KeyCorp boosted their price objective on Tempur Sealy International from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wedbush restated an “outperform” rating and set a $80.00 target price (up from $67.00) on shares of Tempur Sealy International in a report on Monday. Bank of America upped 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, Truist Financial raised their price objective on shares of Tempur Sealy International from $63.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $70.75.

Institutional Investors Weigh In On Tempur Sealy International

A number of hedge funds have recently added to or reduced their stakes in TPX. FMR LLC raised its holdings in shares of Tempur Sealy International by 2.0% during the third quarter. FMR LLC now owns 8,678,359 shares of the company’s stock valued at $473,838,000 after purchasing an additional 169,848 shares during the period. State Street Corp raised its stake in Tempur Sealy International by 0.6% during the 3rd quarter. State Street Corp now owns 5,025,440 shares of the company’s stock worth $274,389,000 after buying an additional 28,991 shares during the period. Linonia Partnership LP boosted its holdings in Tempur Sealy International by 9.2% in the third quarter. Linonia Partnership LP now owns 4,095,179 shares of the company’s stock worth $223,597,000 after acquiring an additional 345,745 shares in the last quarter. Geode Capital Management LLC grew its stake in Tempur Sealy International by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,959,570 shares of the company’s stock valued at $161,634,000 after acquiring an additional 57,138 shares during the period. Finally, Wellington Management Group LLP bought a new stake in shares of Tempur Sealy International during the third quarter valued at approximately $73,981,000. 99.86% of the stock is currently owned by institutional investors.

Tempur Sealy International Price Performance

The business has a 50-day moving average price of $57.34 and a two-hundred day moving average price of $53.58. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 3.95. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 2.02 and a beta of 1.64.

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

Tempur Sealy International Dividend Announcement

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

Tempur Sealy International Company Profile

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.